Appeals and Requests for Reconsideration
Property owners and tenants in Ontario have until March 31, 2024, to file an appeal or a Request for Reconsideration to challenge their property tax assessments.
There are several reasons taxpayers should consider filing an appeal in this eighth year of the current assessment cycle in Ontario. Given the extended assessment roll, a full review of property assessments should be completed, even if an appeal was previously filed and resolved in an earlier year of the assessment cycle.
Taxpayers should consider filing an appeal if:
- A new property has been acquired in the last 12 months;
- There has been a change in use in all or a portion of a property;
- Physical changes to a property have been experienced, such as demolition, contamination, and additions; or
- There has been a recent appeal decision on a neighbouring property.
At this time, the province has not indicated if 2024 will be the last year of the current assessment cycle or if the assessment cycle will continue to be extended. In any case, property owners and tenants can benefit from lowering an assessment value in the current cycle as this will establish a lower valuation base for the calculation of any phased-in assessment increases in future years.
Property owners are reminded that the deadline for Ontario property tax rebate applications is rapidly approaching. Applications for rebates of municipal property tax paid in 2023 must be filed by the legislated deadline of February 29, 2024.
Property tax rebates may be available if a property has experienced a significant change in value over the course of a year because of specific events, including:
- Demolition – where a property, or any part of it, was demolished during the year;
- Damage resulting from fire or other causes – where a property is damaged by fire, flooding, storm damage, or other causes, in turn rendering the property, or a portion of it, substantially unusable for the purposes for which it was used immediately prior to the damage; and
- Repairs or renovations – where a property was undergoing extensive repairs or renovations for at least three months during the calendar year, which prevented the normal use of the property, or a portion of it, for three months or more.
For repairs and renovations lasting three months or more, note that the term “normal use” can be quite subjective. If any of the events noted above occurred at a property in your portfolio during 2023, please contact Ryan with the pertinent details so that we can determine municipal property tax rebate eligibility.
With more than 850 global professionals in 41 cities, Ryan has the local market expertise and resources to successfully manage your organization’s property tax obligations. Our integrated team, including designated appraisers, former local assessment officials, engineers, attorneys, paralegals, and financial analysts, can maximize potential property tax refunds while ensuring compliance with the regulatory requirements in all Canadian jurisdictions.
For more information or to discuss your current situation, please contact your Ryan account representative.