{"id":23866,"date":"2023-08-17T16:19:41","date_gmt":"2023-08-17T16:19:41","guid":{"rendered":"https:\/\/leyton.com\/ca\/?post_type=news&#038;p=23866"},"modified":"2023-08-17T16:19:44","modified_gmt":"2023-08-17T16:19:44","slug":"just-announced-ontario-property-tax-reassessment-postponed-for-the-year-2024","status":"publish","type":"news","link":"https:\/\/leyton.com\/ca\/en\/news\/just-announced-ontario-property-tax-reassessment-postponed-for-the-year-2024\/","title":{"rendered":"Just Announced: Ontario Property Tax Reassessment Postponed for the Year 2024"},"content":{"rendered":"\n<p><em><strong>Ontario Property Tax News<\/strong>\u2014The Minister of Finance has <strong>officially postponed the Ontario Reassessment for the 2024 year<\/strong>, published in Ontario Regulation 261\/23, amending Ontario Regulation 282\/98 to include 2024 as a non-reassessment year.<\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Included in the announcement are details that a review of the property assessment and taxation system that will focus on fairness, affordability and business competitiveness, to balance the need to support people during a time of high cost of living and ensuring property assessment information is up-to-date. <strong>This could mean drastic changes to the assessment system in Ontario to provide more transparency and equity in the assessment and taxation system.<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>With all Ontario Municipalities having to bear the burden of a lack of an increase in the assessment base for their budgets, <strong>this burden will be placed on property owners to make up this lack of revenue with increased property tax rates<\/strong>, most likely resulting in <strong>higher tax rate increases than seen in 2023.<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>As more details are released, better clarity into the timing of this review and potential changes will be achieved.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>With the uncertainty in the existing assessment process and what the future of property taxation will look like in Ontario, <strong>it is crucial to address any errors or inequities in the assessed value, before a potential revamp of the entire system takes place, potentially compounding an already incorrect assessment.<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>At Leyton, our <strong><a href=\"https:\/\/leyton.com\/ca\/en\/contact-us\/\">property tax consultants<\/a><\/strong> are experts in reducing your property tax burden. <strong><a href=\"https:\/\/leyton.com\/ca\/en\/contact-us\/\">Schedule a free consultation to reduce your property tax liability<\/a><\/strong>.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/leyton.com\/ca\/en\/contact-us\/\"><em>Request a review of your property(ies) assessment now<\/em><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ontario Property Tax News\u2014The Minister of Finance has officially postponed the Ontario Reassessment for the 2024 year, published in Ontario Regulation 261\/23, amending Ontario Regulation 282\/98 to include 2024 as a non-reassessment year. Included in the announcement are details that a review of the property assessment and taxation system that will focus on fairness, affordability [&hellip;]<\/p>\n","protected":false},"featured_media":23868,"template":"","meta":{"_acf_changed":false},"categories":[1340,437],"tags":[1150,441,1460],"class_list":["post-23866","news","type-news","status-publish","has-post-thumbnail","hentry","category-ontario","category-property-tax","tag-ontario-en","tag-property-tax","tag-property-valuation-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ontario Property Tax Reassessment Postponed for 2024 - Canada<\/title>\n<meta name=\"description\" content=\"Just announced: Property owners should brace themselves for the coming year as property tax may be on the rise.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leyton.com\/ca\/en\/news\/just-announced-ontario-property-tax-reassessment-postponed-for-the-year-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ontario Property Tax Reassessment Postponed for 2024 - 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