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Residents can appeal property assessments at review board Continued from page 1 3 · Friday, February 8, 2013 OAKVILLE BEAVER · www.insideHALTON.com Property Assessment Corporation) Account Manager for Business Relations Lenny Del Medico talked to those present about what MPAC is and how it works. He described it as a not-for-profit, non-share capital corporation, which has been charged by the Province with carrying out assessments of all Ontario properties every four years. Del Medico explained MPAC determines property value through a number of methods including the direct comparison approach where they look at the sale of similar properties in the area or the surrounding area. He said the Town turns all building permits over to MPAC so if an individual has built a deck or added an addition to their home this will be factored into the new assessment -- this method is used largely for residential properties. MPAC can also look at land value or a property's net income and overall capitalization rate to determine property value. Del Medico said real estate values have increased considerably in Ontario over the last four years. In Oakville, residential property values have increased by 21.4 per cent while the value of farmland has increased by 80.4 per cent, multiresident property values have increased by 32.3 per cent, commercial property values have gone up by 22.9 per cent and industrial property values have increased by 15.2 per cent. In an effort to lessen the impact, the Province has instructed MPAC to phase in these new heightened values evenly over the next four years. During the meeting, those present had the opportunity to ask questions and express issues they had with their assessment. One property owner took issue with his vacant lot being assessed as a restaurant simply because a chip wagon operates there three months of the year. Another property owner asked if tenant vacancies are taken into consideration when the assessment is completed. Del Medico said such vacancies are subtracted from the assessment. He also pointed out anyone who is unhappy with their assessment can visit www.mpac.ca, use the password included on the assessment form that was mailed to them, and see how their assessment was done. If information used in the assessment is incorrect, the individual can undergo a Request for Reconsideration process, which is also available on the website, where the discrepancy is then pointed out to MPAC. If MPAC disagrees, the decision can be appealed to the Assessment Review Board. UP TO At the review board, the onus will be on MPAC to defend the assessment they have put together. Residents should be aware they must pay a fee to appeal to the review board and if the review board determines the assessment is too low they could raise it above what MPAC was originally asking for. With residents now having a better understanding of what MPAC does and how to deal with assessments they don't agree with, Messer said approaching the Town for some kind of tax rate adjustment for Kerr Street businesses is a discussion for another day. For more information, residents can contact the MPAC call centre at 1-866-296-6722 or 1-877-889-6722 TTY. SAVE $1475.00 LENNOX REBATES High Efficiency Furnace Inside Opinion.............................................6 Worship..........................................16 Artscene..........................................17 Sports..............................................19 Classified........................................25 AND NO INTEREST, NO PAYMENTS OAC Cannot be combined with any other offer. Limited Time. 6 MONTHS Full Delivery: Rabba Fine Foods, New Homes, K & B Sushi, Smart Source Partial Delivery: QSI Windows & Doors, Michaels For home delivery & customer service call 905-631-6095, 5300 Harvester Rd., Burlington New subscriptions call 905-631-6095 or subscribe online @ www.oakvillebeaver.com · Call For FREE In-Home Estimate www.atlantisair.com HEATING · AIR CONDITIONING · FIREPLACES 905-845-4009 1235 Trafalgar Road Suite 207, Oakville www.oakvillehearing.com n i e r nt e C g n i r a He T S E Winner of B T: 905.849.5894 ars in a Row! e Y 5 -- e l l i v Oak SOUND YOU COULD ONLY DREAM ABOUT Join THE OAKVILLE HEARING CENTRE for a FREE hearing assessment and demonstration of the latest state-of-the-art hearing aid technology. Because you deserve TRUE-TO-LIFE sound! P R IZ E V A L UE $6650! A PAIR OF H WIN ENTER TO EARING AID * S *Contest rules apply, see store for details. Visit us for all of your hearing healthcare needs: direct billing F E B R U A R Y 1 2 TH & 1 3 TH RSVP Today, Space is Limited! 905.849.5894 *Contest rules apply, see store for details. Audiologist Nicole Clark,