Cornwall ON – In an article entitled “Call for a reduction” that appeared in the Wednesday February 9th edition of the Standard-Freeholder, Cornwall was grouped with several other Eastern Ontario communities for the purpose of comparing estimated residential property tax bills.
The article included a chart comparing tax bills using the average assessed value of a house in Cornwall. That figure was then used to estimate tax bills in other Eastern Ontario municipalities. Unfortunately, the comparison used in the article is flawed as assessed values differ from community to community based on a number of factors, including market trends.
The following chart displays a more accurate analysis of estimated tax bills for 2010, using average assessed values that are appropriate for each municipality. The figures used in the chart have been compiled by the Municipal Property Assessment Corporation (MPAC), the agency responsible for establishing the assessment for properties in Ontario.
It should be noted that the average assessed home can vary greatly in size, age and quality from one municipality to the next.
“It is a complicated process to effectively compare communities with regards to taxation levels,” said Maureen Adams, General Manager of Financial Services for the City of Cornwall. “Final property tax bills are based upon a multiplication of two factors: the assessed value and the municipal tax rate. Assessed values can vary widely from house to house, and from community to community. Tax rates are also difficult to compare, as the level and range of services is significantly different in each community.”
The City’s budgeting process continues, with the next Budget Steering Committee set for Friday, February 11, 8:45 am at City Hall in the Council Chambers. The meeting is open to the public.