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ndrosenAnd now, moving on to the afternoon of Friday, July 28, 2017, we had a talk on "Market-Value Property Tax in Ontario: Overall Success, with Caveats," by Erich Jacoby-Hawkins, with respondent Ted Gwartney. Erich Jacoby-Hawkins is with the Henry George Foundation of Canada, as well as the Green Party of Ontario; he was wearing a Canada tie, and began by saying that our northern neighbors are celebrating 150 years of Canada. They're especially glad not to be part of the U.S.A. in view of last year's election.
There is something called the Municipal Property Assessment Corporation, or MPAC.
In Canada, there are municipal-level property taxes, as well as development charges, user fees, etc., but no income or sales taxes. They have these at the federal and provincial levels. At the municipal level, the property tax is the main source of revenue.
Assessments lead to changes. As the assessment of all the property in a town goes up, the tax rate goes down, so total property tax revenue does not change. Different classes of property are taxed at different rates, with commercial property, for example, taxed more than residential. Municipalities are asking for more "revenue tools," like income and sales tax, billboard tax, and Land Value Capture. Currently, only Toronto is allowed other revenue tools.
Different provinces have different rules for who assesses the property. Ontario's solution is the MPAC.
To be continued.
There is something called the Municipal Property Assessment Corporation, or MPAC.
In Canada, there are municipal-level property taxes, as well as development charges, user fees, etc., but no income or sales taxes. They have these at the federal and provincial levels. At the municipal level, the property tax is the main source of revenue.
Assessments lead to changes. As the assessment of all the property in a town goes up, the tax rate goes down, so total property tax revenue does not change. Different classes of property are taxed at different rates, with commercial property, for example, taxed more than residential. Municipalities are asking for more "revenue tools," like income and sales tax, billboard tax, and Land Value Capture. Currently, only Toronto is allowed other revenue tools.
Different provinces have different rules for who assesses the property. Ontario's solution is the MPAC.
To be continued.
