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ARTICLE · 01 AUGUST 2023

Ontario's Next Property Reassessment Remains Uncertain

Aird & Berlis LLP
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In November of 2021, the Ontario Government released its Fall Economic Statement. In the section entitled "Property Tax Stability and Competitiveness," the government stated...

CanadaTax
Melissa A. Muskat
Melissa A. Muskat
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In November of 2021, the Ontario Government released its Fall Economic Statement. In the section entitled "Property Tax Stability and Competitiveness," the government stated that its priority was "maintaining stability for taxpayers and municipalities at this time." Having already postponed the Province-wide reassessment twice (from 2021 to 2022 and then from 2022 to 2023), the government announced that it would once again push the next reassessment to 2024, leaving all property assessment values frozen as of January 1, 2016.

Will the reassessment happen in 2024?

Earlier this month, a group of industry and municipal organizations wrote to Premier Doug Ford, urging his government to move forward with the long overdue reassessment. The organizations behind the July 14, 2023 letter included the Association of Municipalities of Ontario, the Canadian Federation of Independent Business, the Ontario Chamber of Commerce and six other organizations. The group warned that

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