Property taxes are the City's main source of income. Taxes are used to fund the many services provided in Stratford.
Municipal property taxes in Stratford are calculated using 3 variables:
Tax rates are set by Council annually as part of the annual City budget process. Rates for different classes of properties are determined by the tax ratios.
Education tax rates are set by the Province of Ontario. The City collects these taxes and distributes them to the school boards.
The Municipal Property Assessment Corporation (MPAC) is charged with the responsibility of assessing the value of all properties in Ontario. The Province of Ontario sets the policies as it relates to assessment and MPAC administers them. Assessed values are then provided to municipalities, who then use these figures to determine your property taxes.
In 2016, MPAC will update the assessed values of more than five million properties in Ontario based on a legislated valuation date of January 1, 2016.
Residential property owners can expect to receive their Property Assessment Notice starting May 24. Notices for business properties and farms will be mailed in the fall of 2016.
For information on how assessment works, market trends, the Request for Reconsideration process and property assessment and taxation, visit aboutmyproperty.ca. If you would like to see the information MPAC has on file for your property or compare your property to others in your area, you can register and login using the Roll Number and Access Key located on your Property Notice Assessment.
For more information on MPAC, your assessment and property taxes, please visit MPAC's YouTube Channel.