Shoppers MPAC Assessment Drops 26% in Cornwall ON $275K Refund FEB 7, 2017

Shoppers MPAC Assessment Drops 26% in Cornwall ON $275K Refund FEB 7, 2017

CORNWALL ONTARIO – More fiscal hemorrhaging at the hands of the O’Shaugnessy government in Cornwall as they issued a press release stating that they mediated a settlement with Shoppers Realty Inc. that saw the MPAC assessment cut by 26%!   That’s a hard reality that if spread to more properties in the Industrial Park and other commercial properties could lead to devastating fiscal results.

The City just saw a big jump of water rates and tax rates due to a drop in commercial assessment.   This cost the city over a quarter million dollars.

The question is how much more red ink will flow to the ratepayers of Cornwall.

What do you think dear CFN viewers?

You can post your comments below.

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City of Cornwall reaches settlement with MPAC and Shoppers Realty on assessment appeal

The City of Cornwall has reached an agreement with the Municipal Property Assessment Corporation (MPAC) and Shoppers Realty Inc. for the assessment value of its Cornwall distribution centre following an Assessment Review Board mediation session.

Minutes of settlement were recently signed for the assessment of the property at 1330 Optimum Drive for the 2013, 2014, 2015 and 2016 taxation years. As per the settlement, the total assessment value has changed from $55,373,000 to $44,000,000.

The end result will see a municipal property tax refund totalling $274,564.61 for these four taxation years.

“The City of Cornwall anticipated that there would be adjustments to assessment values within this sector and has made contributions to a tax stabilization reserve. This refund will be funded through this reserve,” said Tracey Bailey, General Manager, Financial Services and Treasurer.

“Shoppers is an important corporate citizen that supports our community through employment, property taxes and numerous other economic spin-offs,” added Mark Boileau, General Manager, Planning, Development and Recreation.

There are additional assessment appeals for other properties in the Cornwall Business Park which are working through a discovery process following a mediation session. Additional information will be provided once these matters are finalized.

Assessment values are established by MPAC, a provincial organization which assesses and classifies all properties in Ontario. Property tax bills are calculated by multiplying the assessed value of a property by the total tax rate (municipal and education). All property owners have the ability to appeal the assessed value of their property if they feel it is not accurate.

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8 Comments on "Shoppers MPAC Assessment Drops 26% in Cornwall ON $275K Refund FEB 7, 2017"

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Pete Walbee
Guest

We need to get rid of this council. They don’t know how to reduce taxes. Fire and police budget too costly, sidewalk plows going thru the city when no snow on sidewalks and not sanding either. Complex management paid and NO events happening. 60k for lights in the park. Holiday lights in Le Village and Downtown installed by high priced electrical contractor.

Lassie
Guest

Will the assessment go up when the value of a Shopper’s marijuana distribution centre is considered?

jules
Guest

Businesses in Cornwall cannot pay the huge taxes nor the huge cost of electricity, etc. You will see things get worse and worse as time goes on. You will see tons of homes and businesses up for sale and many people are going to leave Cornwall even by jumping on the freight traines looking for work wherever they can find it. This is going to hit everywhere but Cornwall is going to be hit really

jules
Guest

Jamie I see some store fronts here in Ottawa that have closed their doors as well. The economy is going to plunge badly world wide. People learn to live with a great deal less because very soon maybe this year the economy may crash from what I am reading and listening to.

OurNewMPM
Member

Cornwall will have a new mayor and a new council in 2018 🙂

There will be no more graft, no more scandal, and no more dead wood!

jules
Guest

Jamie you sure are right about draining the swamp and getting rid of dead wood. Cornwall’s taxes are way too high and one man came from Milton Ontario near Toronto and was shocked at Cornwall’s taxes. There is nothing in Cornwall at all for taxes to be so high – do I ever remember the high shocks that came in the mailbox.

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