TAX & ESTATE LAW
With the downloading of municipal costs and services by provincial and federal governments, the ability of municipal governments to maintain and provide such services has had a dramatic negative effect on all types of landowners and businesses. The substantial assessment increases by MPAC, the provincial corporation created to establish assessments, created hardship at all levels of the community. Significant social and business decisions were affected. The theory of Market Value Assessment is a troubling issue.
In early 2007, the Province released general statements regarding the new assessment policies. They related more to phasing in the increased assessments and increased tax payments rather than dealing with the more fundamental issue of how assessments are calculated. The present system of market value has created widely inflated tax increases unrelated to municipal services. What was hoped for was a more stabilized system, such as one that might be tied to fixed rate increases or inflation rates, rather than artificially inflated real estate prices. This is a consistently evolving problem with ongoing difficulties created by provincial and municipal deficits. Let us provide you with practical assistance to address your needs.