Fight City Hall on property taxes—and win
Home prices in many Canadian neighbourhoods have soared lately, which could eventually lead to higher tax bills. But if you choose to fight your assessment, there’s a good chance you’ll be successful.
If you're among those who are wondering if a recent property assessment will lead to a property tax hike, you're not alone. Increased property values in many Canadian cities could potentially lead to higher tax bills. However, if you believe your assessment was too high and you choose to appeal it, there is a chance it can be lowered.
As a general rule, if the value of your assessment has increased by less than the average in your municipality, your taxes won't go up. The possibility of a property tax increase is only really prevalent for those who are assessed at a higher increase than is typical for their municipality. In this case, not only may property taxes rise, but it could lead to issues when selling, as the property taxes for said property will be higher than neighbours with similar homes.
It is reported that 50% of those who have appealed in Ontario and B.C. were able to have their assessments decreased.