Welcome to Kingmont Consulting, Professional Corporation

Company Location,

18 Regan Road, Unit 29

Brampton, ON L7A 1C2

News

The deadline to file Request for Reconsideration and assessment appeals is April 2, 2024.

Updates

Welcome to Kingmont’s Updates Page! Feel free to check here for any information you might need.

 

February 2024

Barbarine Henry – A Remarkable Life

To celebrate Black History Month, Kingmont wanted to spotlight the life and accomplishments of the late Barbarine Henry (1942-2023), godmother to our very own Raquel Henry. Born in Jamaica, the 6th of 8 children, Barbarine Henry (or Auntie Babs to almost all) left for England in the early 1960s to study nursing. After immigrating to Canada in 1968, Babs worked at two Toronto hospitals; Toronto General and Sick Kids. It was in the 1970’s when army life came on her radar. She enlisted in 1976 (aged 34!) and received her first posting to CFB Comox in BC. In 1981, Babs left for Texas to train as a flight nurse on a C-9A Nightingale military medical transport plane. Later she would work on a Labrador search and rescue helicopter which had been adapted for the Canadian cold weather; it could hover for up to two hours, and land and taxi on water.  In 1986, Barbarine was posted to the Canadian Forces Hospital in Lahr, Germany, and finally retired in 1992 as a Captain.

Babs led a remarkable life; especially as a woman, an immigrant and a woman of colour. May we all live a life as fulfilling and complete as Babs. Women like Barbarine Henry are an inspiration to us all and we thank her for her service.

 

January 2024

2024 is another year of waiting in Ontario. There is no province-wide reassessment (again).

However, the reassessment will come, and the changes required to update assessments from a 2016 base year value will be significant. Property owners need to continue to annually review the accuracy of their assessments, including changes resulting from demolition or fire, change in tenant use, and the effects of recent Court and Assessment Review Board decisions. An annual review and property record update will allow for a more accurate and efficient approach to evaluate the 2024 assessment and prepare for the reassessment

 

November 2023

MPAC’s Property Assessment Notices will have a new look this year.  MPAC aims to implement new updates to increase transparency in an effort to clearly communicate changes to the property’s assessment.  The notices will be mailed shortly.  If you receive a notice, please forward a copy to our office for review. 

 

May 2023

MPAC’s 2023 Property Income and Expense Return (PIER) program will commence with mailings starting May 12th with a due date of July 14th

Property Income and Expense Returns may be sent to the following property types: Commercial/Industrial, Golf Courses, Hotels, Land Lease and Mobile Homes, Large Resorts, Long-term Care Facilities, Mixed Use Properties, Motels, Multi-Residential properties, Retirement Homes

MPAC’s Property Income and Expense (PIER) program is the largest data collection initiative undertaken through the Assessment Information Request Program. The PIER program endeavours to support the accurate valuation of income generating properties. The PIER request is sent to approximately 35,000 properties every year.

If you do not receive a letter but believe you should have, please our office.

 

April 2023

In April, MPAC mailed Property Assessment Change Notices (PACN) to property owners across Ontario. This represents $12 billion in new assessment. If you received a PACN, it should be reviewed for accuracy, and to have an understanding of the potential tax impact.

You may receive a Property Assessment Change Notice for any number of reasons. 

  • There was a change to your property, such as an addition, new construction, or renovation. 
  • A structure on your property was assessed for the first time. 
  • There was a change to your property’s classification. 
  • All or part of your property no longer qualifies as farmland, conservation land or managed forests. 
  • All or part of your property no longer qualifies to be tax-exempt.

 

March 2023

Once again we are letting our clients know that for 2023 there is no province wide reassessment. We continue to work with assessed values based on 2016!  The current prediction remains that new assessments will be issued for 2024 but there has been no confirmation, and no discussion as to the new assessment base year.

 

February 2023

HeLa cells were the first 'immortal' human cell line. The cells come from the cervical cancer of an African American woman named Henrietta Lacks (hence the labeling of the cell culture - HeLa). HeLa cells continue to divide and reproduce making it invaluable for scientists. HeLa cells have been used to make breakthroughs with chromosome counting and genome mapping, the polio vaccine, various cancers, sickle cell anemia to name a few. Henrietta Lacks died October 1951. HeLa cells have helped to save over an estimated 10 million lives. 

 

January 2023

CITY OF TORONTO’S VACANT HOME TAX (VHT)

The City of Toronto has passed a by-law requiring all residential property owners to annually submit a declaration regarding the occupancy status of the property. This is required even if the property is not vacant. Please remember that the declaration must be completed by February 2nd, 2023 and should represent occupancy status for 2022.

Any residential units that have been unoccupied for a minimum of six months during the previous calendar year will be required to pay an additional tax of 1 % of the assessment as returned by the Municipal Property Assessment Corporation.

The City of Toronto by-law 97-2002 also states that property may be considered vacant if an owner does not submit an annual declaration; motivation to seek compliance.

The declaration can be made online at:

https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/vacant-home-tax-declaration-of-occupancy-status/

You will need your assessment roll number and your customer number as it appears on your tax bill.

 

 December 2022

One out of every seven Canadians currently live in poverty.  Those living in vulnerable groups (those with disabilities, the elderly, youth and racialized communities) are more susceptible to food insecurity and poverty.

Hunger isn't always obvious - but it exists all around us.  This holiday season, the Kingmont Team has focused on supporting our community Food Bank. During this festive season, we take a moment to reflect upon the wonderful things we have.

Wishing you all the best in the New Year.

 

Ontario Provincial Budget 2022 

The recently released Ontario provincial budget contains a few brief references to property taxes which may be of interest to some of our clients.

There remains no announcement regarding the date for the next reassessment.

Below are brief “highlights” for property tax and assessment review.

 

Property Tax Stability and Competitiveness

The Province conducted a property assessment and tax review with a focus on three themes.

1. Supporting a Competitive Business Environment
- a new optional small business property subclass for municipalities to offer tax relief
- a tax incentive for Brownfields
- programs to support farm businesses, and expand eligibility for the farm property class

2. Improving Assessment Accuracy and Stability
- postponement of reassessment for 2021, 2022 and 2023
- seek ways to improve the exchange of information between property owners and MPAC

3. Strengthening MPAC Accountability
- support MPAC in modernization, flexibility and digital assessment products

Complete property tax announcements: https://budget.ontario.ca/2022/annex.html#section-7

The complete 2022 budget can be found at https://budget.ontario.ca/2022/index.html

 

November 2021 - No New Reassessment for 2022 or 2023!

The Province has announced that the Ontario assessment roll will continue to be frozen. The government has suggested that postponing the reassessment will enhance stability for both municipalities and taxpayers. Unfortunately, this also means that any disparity in property value impacts due to the pandemic will not be recognized in the assessment roll or taxation.

Assessments for the 2021 tax year will remain in effect for the 2022 and 2023 tax years. These assessments will be based on the valuation date of January 1, 2016 (pre-pandemic values), similar to the government’s approach for the 2021 postponement.

It is the intention of the Municipal Property Assessment Corporation to issue Property Assessment Notices shortly but only to property owners who have made a change to their property; changes may include additions, demolition, tax class or ownership.

Please forward to our office any 2022 Property Assessment Notices that you receive. With the chaos in our present assessment system, we recommend an initial review of any changes to your assessment.

Kingmont will continue to monitor the changes that will affect your property taxes during this dynamic time and will keep you informed. Should you have any questions, please do not hesitate to contact us directly.

June 2021- Property Income and Expense Returns Questionnaire

We wanted to take this opportunity to give you the heads-up that on May 14, 2021 the Municipal Property Assessment Corporation (MPAC) will be mailing their annual Property Income and Expense Returns (PIER) questionnaires to all income producing properties. Due to COVID last year’s data requests were cancelled.

The responses to the income questions will be used by MPAC to determine your property’s valuation for the now delayed next assessment cycle and as such the accuracy of the data submissions is crucial. If we can assist with the completion of these requests, please contact our office.

We are often asked whether filling out these forms is mandatory, as their completion can be onerous. The short answer is yes. There are penalties for non-compliance and for providing false information. In regards to the protection of the sensitive data you provide, MPAC is prohibited from the unauthorized disclosure of your data.

December 2020 → 2020 and 2021 Assessment and Taxation

As we prepare for the end of 2020, we wanted to send out some thoughts on the most common questions that we are receiving from our clients. The reality is that we do not have definitive answers yet as to what will happen in assessment and municipal taxation for 2021, but find following a few comments on what we know so far. As the provincial government has been silent on the province wide reassessment and whether covid related assessment reductions are on the table, the next few months will be busy as more information becomes available.

The 2021 assessment appeal and request for reconsideration deadline is the end of March 2021. Any properties with outstanding appeals before the Assessment Review Board will receive a deemed 2021 appeal similar to previous years. The majority of properties have had appeals for this assessment cycle completed however, and a further 2021 appeal may be necessary. In the New Year, we will reach out to discuss this possibility with you. For the present, we wish you a wonderful holiday, even with the restrictions and safety protocols in place. Please take care, and we look forward to having a Happy New Year. Regards,

November 2020 → Ontario Assessment Update

Is a province wide reassessment still anticipated for the 2021 tax year? The reassessment scheduled to be returned and phased-in beginning in 2021 has been postponed due to Covid. The 2020 taxation year assessment (fully phased in 2016 base current value) will be carried forward for 2021.

What value will be used to calculate 2021 taxes? The value is the same as 2020 subject to “state and condition” changes such as additions, demolitions or changes in use. The definition of changes in the “state and condition” of a property may be an active litigation issue given the Covid market effects in certain sectors. To date, the Municipal Property Assessment Corporation has indicated they have no appetite for recognizing any Covid adjustments for 2021.

Is the next reassessment still to be based on 1 January 2019 date of value? The Province has not yet indicated if they will be changing the effective date of the next reassessment, in fact the Province has been silent on the matter. However, it is our opinion that unless the market rebounds to pre Covid levels in all markets, the Province may need to move that date forwards to at least capture some of the Covid related market adjustments. It is unknown, at this point, how whis will play out.

October 2020 - Thoughts on Taxes

When the next reassessment is returned, will assessment increases be phased in? When a reassessment is returned (likely for 2022-2025), it is anticipated that increases will again be phased-in over the 4 year cycle. We anticipate decreases in valuation will be immediately realized and applied.

What will the 2021 tax rates look like? The reality is that municipalities are experiencing serious budget shortfalls due to delayed tax payment relief programs, bankruptcy and an overall inability to pay. Additionally, they have limited credit financing options available to them, under the Municipal Act. In consideration of these issues, we anticipate that higher levels of government will be providing assistance to the municipalities in some way. That said, we do not anticipate the municipalities to download all of their budgetary shortfalls onto the backs of property owners and tax payers. In fact some municipalities, Markham for example, have publicly stated that tax rates will be frozen for 2020 levels for the next year.

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