Most Grey Bruce residents will have recently received property tax assessment notices in the mail.
The Municipal Property Assessment Corporation will mail out almost 5 million of them this fall based on January 2008 values and good for the next four years.
Because of changes made since the last assessments in 2005… the increases will be phased in over the 4 years.
Residential property values in Grey County have increased by 22.7 percent which means an average increase of 5.5 percent over the next four years starting next year.
In Bruce County …. property values have increase almost 30 percent since 2005 which means an average increase of 7.2 percent in each of the next four years.
Owen Sound’s average property value increase is 25 percent ..which equals just over 6 percent in each of the next four years.
The city’s Director of Financial Services, Wayne Ritchie admits it can be a stressful time for home owners and he says his office takes a number of calls after the notices are mailed out.
While he says they’re always glad to answer questions… they should be directed to the MPAC office on 10th Street West in Owen Sound or by calling 1-866-296-MPAC (6722).
We’re also reminded that if the assessed value of our property has increased by the same amount or less than the average throughout the rest of the municipality… property taxes may not increase.
