Equitable Value participates in Ontario Ministry of Finance SPBAR stakeholder sessions – pre-roll consultations coming soon!
Ontario Property Tax & Assessment Update on the Provincial “Special Purpose Business Properties Assessment Review (SPBPAR)”
The SPBAR review by the Ministry of Finance is well underway. The focus group is reviewing MPAC’s methodology of assessment for certain “Special Purpose” properties, with the stated objective of agreeing on methodology for valuation and ideally limiting the size and scope of potential appeals.
Equitable Value attended the stakeholder sessions for nearly all the affected properties which occurred January 26, 27, 29 and 30th, 2015 – and can advise the following:
Owners and designated representatives of affected properties have been invited to participate in discussions as it prepares new methodology guidelines for the valuation of these properties. This is a prime opportunity to:
– Hear about MPAC’s plan for future valuations of your property;
– Provide feedback to MPAC with direction on factors that affect property values in your industry; and
– Engage assessors early on to explain why certain information is either not relevant or is confidential.
If your property is impacted by this review, EVI would be pleased to participate in these discussions on your behalf or alongside your team. We believe it’s important to collaborate with the MPAC assessors in this process. It not only allows you to prepare more accurate budgets and accruals, but it’s also a mechanism to attempt to have more accurate returned assessments up front, with fewer resulting costly appeals.
We can help! EVI can assist with:
- Representation and/or collaboration with in-house personnel for participation in industry meetings
- Commencement and continuation of dialogue with MPAC regarding valuation issues specific to your property
- Preparation of responses to information requests
- Participating in pre-roll discussions regarding your property values
Upcoming MPAC Information Requests
MPAC is developing new information requests which are quite in-depth and onerous for property owners and occupants. Property owners can anticipate penalties for non-compliance. We can assist by ensuring that appropriate action is taken in response to these requests.
We can guide you during any pre-roll negotiations to avoid unduly high assessments relative to your peers, while protecting your appeal rights and ensuring that your tax burden is only your “fair share”.
If you would like EVI to represent you in these discussions, or would like to discuss this further, please email us at info(at)equitablevalue.com