Real Estate

Property Tax Question

  • Last Updated:
  • Feb 8th, 2021 10:01 pm
[OP]
Jr. Member
Dec 16, 2007
196 posts
5 upvotes
Richmond Hill

Property Tax Question

Hi,

If I purchase a property at arm's length, would MPAC automatically do a "current value reassessment" to be equal to the purchase price or will that still happen in cycles (i.e. 2016, 2021, 2025, etc) .

Thank you!
1 reply
Deal Addict
User avatar
Oct 13, 2008
4588 posts
1594 upvotes
dana_2 wrote: Hi,

If I purchase a property at arm's length, would MPAC automatically do a "current value reassessment" to be equal to the purchase price or will that still happen in cycles (i.e. 2016, 2021, 2025, etc) .

Thank you!
Property Tax Assessments ... or reassessments ... are done randomly on purchases.

Nobody will know. It's the luck of the draw.

And you would NOT be stupid to call the City and ask.
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