Anne Haines, Account Manager with Municipal Property Assessment Corporation (MPAC) was before Huntsville Council on July 25, 2016 to provide an overview of changes to residential property assessment values.
She said he majority of the Town of Huntsville’ residential market went up approximately 1.6 per cent (from 2016 to 2017) or $13,000 (since the last assessment in 2012) with the average price of non-waterfront homes sitting at about $246,000. The value of condominiums, on the other hand, went down by about 2,5 per cent (from 2016 to 2017) or $7,000 since 2012, with a typical assessed value averaging about $235,000. Waterfront properties went up an average of about 2.5 per cent or $38,000 since 2012, with assessed value of a typical residence on water averaging about $474,000. The highest assessment increases were experienced by properties on Lake Waseosa, at an average increase of about four per cent, while Skeleton, Long and Fairy lakes saw average increases of approximately three per cent. Other properties, such as those on Mainhood Lake, remained mostly unchanged, while lakes such as Buck went down one per cent
“So you’ve got quite a range. Again this is based on the sales in these areas,” said Haines.
In some areas across Muskoka/ Parry Sound, we’re actually seeing waterfront flat or going down so your waterfront is very active and still moving upward, typically.MPAC account manager Anne Haines
Increases to be phased in
She explained that in 2008 the Province passed legislation that meant assessment increases would be phased in over four years. MPAC is now cycling through the fourth year and assessments conducted for 2016 will reflect what properties were worth on January 1, 2016, with the next four-year taxation cycle running from 2017 through to 2020. She said residential assessment notices in the past were mailed out in late fall but this time around the notices are out much earlier.
The early engagement is really to help ensure that there’s no surprises. People know about their assessment well in advance of getting a tax bill and that they have that opportunity if they have concerns to talk to MPAC and come and speak with us about the assessment rollAnne Haines, MPAC Account manager
She said Huntsville has 13,638 properties. The assessment for residential properties went out in the mail on July 11. The assessment for properties classified as farms will go out on October 11 and the assessment for multi-residential and commercial properties will go out on October 18.
Huntsville residential property owners have until November 8, 2016 to request a reconsideration of assessment. An MPAC information open house will be hosted by the Town of Huntsville at the library on August 8, 2016. (Get details here.)
You can find a map showing Huntsville’s average assessment changes here.
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Hi Tim, thanks for noting that. The percentage change reflects changes from 2016 to 2017 and the dollar amount reflects changes from the last assessment conducted in 2012. I have added that in parentheses. The 1.6 per cent increase covers the overall residential market as per a follow up conversation with MPAC’s Anne Haines.
Check your percentage calculations. MPAC % increases are average annual increases over the reassessment period. A $13,000 increase on an average cost that must have been $233,000 ($246,000-$13,000) is 5.7 percent not 1.6% as reported. Similarly, the $38,000 increase in waterfront computes to 8.7% not the 2.5% you quoted.