Your property tax is base on your MPAC assessment with a fixed rate that applies to everyone in the city with the same service, ex. school, fire, garbage pick up, bus.
To reduce your property tax, you need to reduce your MPAC assessment. To argue that your MPAC is overestimated, you need to provide evidence that your house is not worth as much as estimated. Evidence can include past sale history of similar house in your neighborhood, similar house currently for sale in your neigbhorhood, written estimate from the bank for morgtage purpose, written estimate from an real estage agent of how much she could list the house for.
You make the case with MPAC, not the city.
Since the most recent MPAC assessemnt is base on the market price of Jan. 2008, as the market price continue getting lower, you will see more and more people going to reappeal. And you can pass on your experience with others in the future.
Check your neighbour's property tax, select the ones whose houses are of similar market value as your house, but of lower taxes. File the report for reconsideration to MPAC. Normally you should succeed.
Check your neighbour's property tax, select the ones whose houses are of similar market value as your house, but of lower taxes. File the report for reconsideration to MPAC. Normally you should succeed.
Yes, it is usually true. However, I know that one case happened back several years ago. Instead of lowing your value, MPAC increases the value of your neighbor value, which they think that is undervalued.