For municipal governments, property tax is the main source of revenue to support the delivery of community services. Understanding the complexities around property tax and assessment is an important aspect to many municipal finance staff and as such, MFOA's Property Taxation in Ontario: A Guide for Municipalities
provides a high level introduction on property taxation. See below for the Guide as well as other resources.
MFOA believes that when looking at property assessment approaches, a number of key principles should be taken into account such as fairness; accuracy; transparency; predictability and stability; and, timeliness and feasibility. Methodologies should be consistent and produce a current value assessment that reflect the real market value of the property. Likewise, assessment methodologies should be transparent with its data sources and the final assessments should have a degree of stability for the benefit of both ratepayers and governments.