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If your property is not located within a municipality, contact the Provincial Land Tax Office in Thunder Bay for questions about your Provincial Land Tax account (s), payment (s), tax certificate (s) or bill (s): email: plt@thunderbay.ca. local calls: 807-625-2122. Toll-free: 1-866-400-2122.
Nov 10, 2021 · To see how tax rates differ across the province, and how they’ve fluctuated from 2020, Zoocasa has compiled 2021 property tax rates for 35 Ontario municipalities. This year’s edition also calculates how much homeowners would pay in taxes in each municipality, based on four sample assessment values: $500,000, $750,000, $1 million, and $1.5 million.
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Estimated taxes on a residential property with an Assessed Value of $698,801. Estimated property tax = Assessed Value x Total Tax Rate. = $698,801 x 0.611013%. = $4,269.76.
Property tax is a levy based on the assessed value of property. Property tax has two components: a municipal portion and an education portion. The rates for the municipal portion of the tax are established by each municipality. In a two-tiered municipality, a component of the rate is set by the upper-tier and a component is set by the lower ...
The Government of Ontario establishes the province's assessment and taxation laws and determines education tax rates. MPAC determines property assessments for all properties in Ontario. Municipalities determine revenue requirements, set municipal tax rates and collect property taxes to pay for municipal services.*
Estimated taxes on a residential property with an assessed property value of $694,381. Estimated property tax = assessed value x total residential tax rate. =$694,381 x 0.715289% (includes education rate) =$4,966.83 (includes education taxes) City Building Fund Levy.
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Sep 5, 2023 · The specific property tax rate for a certain year depends on the budget of the municipality and its total assessment base (their tax base). If more tax revenue is necessary, tax rates will need to go up, and vice-versa. The Education Property Tax rate is set by the province. Ontario sets an education property tax rate for each type of property ...