Home values in Saugeen Shores are going up.
Many Ontario residents have or will be receiving a notice from the Municipal Property Assessment Corporation on their residential, agricultural, and waterfront property.
Chuck Egner — a Municipal Relations Representative for MPAC — spoke to the Town’s Council last night to talk about some of the changes for this assessment year.
He points out that residential property in Saugeen Shores will be up by 36 percent and agricultural property will increase by 17 percent.
Egner suggests the increase in value is due to the fact that properties were being sold at a higher price as of January 1, 2008 than when it was last assessed in 2005.
He says they assess the value of properties by going to homes and going over their records.
Egner says properties near wind turbines won’t see their value go down.
He says they check all properties including ones with wind turbines on them.
He says he does not have information to indicate that property values will be affected because of nearby wind turbines.
Mayor Mike Smith says nobody likes to see property values go up but what it tells you is that people like to come to Saugeen Shores.
Smith says the increase in the assessment will in all likelihood mean that the Town will be reducing the tax rate.
Any increase in property assessment will be phased in over a 4-year period.
Residents will also have the opportunity to appeal their assessment with MPAC.
