PROPERTY TAX ALERT
Blue Mountain Ratepayers Assoc.
Aug 19 2005
THE BLUE MOUNTAIN RATEPAYERS’ ASSOCIATION (BMRA) is launching a major
initiative for the benefit of all property owners in the Town of The
Blue Mountains (TBM) and neighbouring municipalities.
Our objective to encourage our municipalities to challenge MPAC
(Municipal Property Assessment Corp.) an independent corporation
created by our Ontario Government. Since its inception, MPAC has
created undue hardship, frustration and financial turmoil for many
ratepayers in Ontario with its Current Value Assessment taxation
policy. (CVA)
CAFTA, a non-profit organization, is the driving force for property
assessment reform in Ontario. (Canadian Advocates for Tax Awareness).
They have contacted over 400 municipalities in Ontario asking them to
challenge CVA.
At BMRA’s request and sponsorship, CAFTA has agreed to make a major
presentation in our area on Saturday, September 17th to help us
understand our taxation system and explain CAFTA’s concerns and the
strategy they propose to initiate change
If you are interested in putting a lid on further property tax
increases, we urge you to attend this very important meeting.
In brief, here are some of the alternatives to current value
assessment (CVA) and CAFTA will suggest:
• The Ontario Government must take back total control of assessment
system from MPAC
• Property Assessments should be frozen at the 200l taxation year
level for a minimum of 5 years.
• Because CVA is equivalent to a “back-door” capital gains tax on
appreciated value of our homes, acquisitions value should be used to
determine the worth of newly purchased properties. Taxes should be
collectable only when gains are realized (i.e. when the property is
sold)
• Assessment increases should be allowed to rise by no more than 2%
per year.
If we are all heard together each of us can MAKE A DIFFERENCE!
Dorothy Healey on behalf of
BMRA Board of Directors. |
... promoting fair tax rates for condominium
owners |