Understanding Your Property Taxes

Mudit Buying

When dealing with Real Estate Residential the question which frequently comes across is How are Property Taxes are calculated for a home. In this article I will try to address that.   There are two prime factors which are involved in calculation of property tax, before we go into specifics of each one of these: Phased-In Current Value Assessment (CVA) Total Tax Rate [further broken down into City + Province (Education) + Regional] Property Tax = Phased-In Value x Total Tax Rate Municipal Property Assessment Corporation (MPAC) is a not-for-profit organization that was created by Province of Ontario in 1997. This organization’s job …