Here’s a statement that won’t surprise you: many residents believe they’re getting ripped off by Ontario’s property tax assessment laws.
Here’s another statement that won’t shock anyone: Queen’s Park doesn’t intend to do anything about it. At least not yet.
Finance Minister Greg Sorbara has confirmed the Liberals have heard the complaints about wildly varied and soaring property taxes in cities, but he’s not prepared to remedy the situation until at least after the next municipal election in November.
He admits the policy is under review and taxpayers will hear more about it when the research is done. Until then, they’ll have to remain patient – and be prepared to either pay their bill or appeal the decision.
“What we’re going to do is have a look at ways in which we can improve the system,” he explains. “We use a current market value assessment system that is basically the standard across North America, and you know, I’ve heard a variety of people call for one variety of cap or other. Everyone would like that of course. None of the people that call for that identify where you make up the revenue or who should pay the additional taxes to compensate for the loss of revenue as a result of a cap.”
Sorbara warns any sudden moves could simply shift the burden from one area of a city to another, solving nothing.
But he refused to say whether the problem would be solved by next April – when the next property tax bill arrives in your mail box.