Guys

I got property assessment notice for my home and the assessed value has increased .Does it mean the property tax will go up following year. Should I go in for re-assessment , Any inputs/suggestions will be of great help.

You can certainly raise your concerns with city and dispute home value .
You will need to substantiate your claim with few other e.g of similar properties having lower assessed values . Please don't ask how you can do that .

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Originally posted by MAK3

Guys

I got property assessment notice for my home and the assessed value has increased .Does it mean the property tax will go up following year. Should I go in for re-assessment , Any inputs/suggestions will be of great help.

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Growing Old Is Mandatory ..Growing UP is Optional

Thanks Ashwani G

I guess the question was , does the property taxes go up ? Apart from this , is there any Pros/Cons of the property assessement notice.

Property tax WILL go up . I am not aware of any advantages.

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Originally posted by MAK3

Thanks Ashwani G

I guess the question was , does the property taxes go up ? Apart from this , is there any Pros/Cons of the property assessement notice.

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Growing Old Is Mandatory ..Growing UP is Optional

Hi MAK3,

You can find answers to all your questions here
http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=57d4ff0e43db1410VgnVCM10000071d60f89RCRD#increase

With the rise in assessed value, you may expect a rise in property tax, but not in the same ratio.

Thx lemon925