2-The Canadian Champion, Tuesday, December 30, 2003 *Sp 'Halton property values jump 14.9 per cent fI! 11 I k 1/11 (90..)-ý,ý Ïae kýùù i ÀLo luci b4 ill. Ludg- )c-Mik 1Id 11L 11 1 1î4 ifiei0. Ll. completed and Halton residential proper- necessarily correspond with property tax ets set by Halton Region, the Town of mncrease, but merely set the stage for S tses bave jumped in value 14.9 per cent. mncreases. Milton and the Province for education, Halton's 2004 property tax budget process. Th.23 . 'at compares to thse average provincial Taxes could go up by the difference next spring. This montis, the Municipal Property mncrease of 11.2 per cent. between the provincial and local averages. 'Me arrivai of final assessment roils Assessment Corporation (MPAC) released final assessment rolîs that will be used to detennane property taxes in Halton Region for next year. Based on the reassessment delivered to bomneowners in November, the assesament reflecta an updated appralsal of properties over the two-year period of 2001lto 2003. The average two-year increase experi- enced by ail properties in Halton was 14.9 per cent, compared to a provincial average Ay A6. pe et oprdt provincial average increase of 13.2 per cent. Commercial and industrial property ancreases in Halton experienced a more moderate increaae, averaging; 6.8 per cent and 10 per cent respectively, compared to s ~ average provincial increases of 5 per cent "Residents often conclude that an increase in their asseasment translates into, a correponding increase to their taxes, however, thia is not thse caae," said David Birkett, Haltos Region's director of finan- ciai policy and internai. audit. -'fle imnpact is not determnined by thse overall increase in property value, but wbether an individual's property increaaed more or less than tie average increase wstbmn the mumicipahity," said Wr Birkett. Receipt of tse assesament will trigger Use beginning of a detailed analysis of taxes by a teamn of financial experta from, Halton Region and Halton's four local municipali- ties: Milton, Burlington, Oakville and SHalton Hilas. The teamn wiil measure Use impact of tax increases resulting from ail Sapproved 2004 budgets, and test Use impact of how Usese taxes are distributed. Tbe Province requires Usat assesament- related property tax increases for non-resi- j dentuai properties be capped at 5 per cent, wbicb resulta in a sbifting of costs onto -111 w ilUTI IVIoUser propesties in Use Region. However, Use Province bas given munic- ipaities discretiona-y tools to adjust the impact of taxation on certain properties or pmoperty classes. Halton regional counicil will review rec- omminendations from Use tax tesan in Use spring of 2004, and establisb final tax rates for inclusion in bilas issued to property owners in Use second baif of 2004. Mr. Birkett said Usat, alUsougb Use Region wiIl base residenta' tax bilas on Usis fina assesamnena moll, pmoperty owners wbo 2004 F-I150 2004 Freeàstar SE, bebieve Usey have experienced an inappro- praeincrease will bave Use opportuniay t WHEN IT COMES TO RIDE AND HANDLING... ACCOMMODATING... pursue appeals of Use appraisal of Useir Plcta mma hav long espete ts tude csrdsrtsand essrsio tsr load-caung aarebty asd capcily. FAU, , DEM. TE LN1 &FM 7111111 peL, property Usroughout 2004. Weil, Urose trade-sti wsd with t ail-new 2004 F-150. Freesar sas seser hsstag t aw aseeysse or asythlsg bttrind. WIth cortestale seatias for ses asd plest The assessed value of properties is deter- U-M Il. - F.U s eul 1 - ' ub IN ui"? Tha resrarkatrie quielseusoaithe sew sf ruse fsr eseryiiing dha brlsg aloeg, the sua Froestuas ms larily Ille sile. And Wu a trip ta tia sardies mined by ail Use buildings, improvemnents F-150- tha quiees pica on the pla" - mey lad u long-dua tuc saur ta irink quiet muans matar sr Isaber yard isson ysur sctadse, Fueestar taras nts sue tact of a convenient casg hauler an ust sec and land Usat make up Use pmoperty. uede" ,EUs Blohad, mugruesieg plcksç angines are a thig ai the peuithe sua F-150h 4.6 linsd 5.4 suds. Trb ites aue uscormprumisingly quiet sud caable. The recent assessment is based on Use 4x2 -8 uperabeSE eluePac age"ciarrent value" of Use pmoperty as of June V-B upecabaSE aluePac age30, 2003 - Usat's Use price a willing buyer from in stock from would pay a wiiling seller in an arm's length transaction if Use transaction $2999 0* $2 9499*occun-ed on June 30, 2003. If pmoperay owners disagree wiUs Useir -------- ---assesument, Usere are two stepa to take. Farat, a Request for Reconsideration can Sbe filed with MPAC. This is an informa service Usat's free of cbarge. A Forma and information. are available at 65 M I municipal offices, MPAC offices, on Use STREET EAST. Intemnet at www.mpac.ca or by cailing 1- s MA I~EIE~Ea866-296>6722. M IOTO NIC L ~*I no agreement is reacbed, Use pmoperty Iowner mayUhen file acomplaint withUthe ýivwv .qalirierfordcoi i 1'odiionof alue Trut snce196 ïïAssesument Review Board (ARB). There's 33 a fee to pay and complaints muist be fîled A * 1* *by Marcb 31, 2004. CaU Use ARR at (416) SALE * EASNG -SFR ICF PAR S *COL ISIO CE TRE314-6900 or toil-free at 1-800-263-3237.