The provincial government is delaying a reassessment of properties until 2024.
Properties are normally reassessed every fours, but this has not happened since 2016.
It is done to determine property values that municipalities use to calculate a property owner’s tax bill.
The pandemic prevented the reassessment from taking place in 2020.
The government has promised a review, but the Association of Municipalities of Ontario worries that will delay assessments even longer.
The association says it compounds uncertainty for residents and businesses, noting that outdated assessments are inaccurate, increase volatility, and are not transparent.
AMO wants a return to a regular assessment cycle and to have the ability to be an engaged partner in the review.
