For your Information - How is your Property Tax calculated?
Posted 10 February 2015, 1:11 pm NST
How is your Property Tax calculated?
●The Municipal Assessment Agency is an independent corporation established under the "Corporations Act". This corporation is responsible for assessing values of properties in Newfoundland and Labrador including residential and commercial properties for the Town of Makkovik.
For further detail on the assessment process, please visit their website at www.maa.ca
Council's responsiblity
● Each year, the Makkovik Inuit Community Government is responsible for setting the mil rate for property tax which is currently 0.008 mils.
Using the 0.008 mil rate, a taxpayer with a property valued at 35,000.00( EX) would be invoiced the amount of $ 280.00 for property tax by using the following formula:
0.008 mils x $ 35,000.00=$ 280.00
What can I do if I think my property value should be more/ or less?
In October of each year, the Municipal Assessment Agency mails out an assessment notice to property owners. If you are not in agreement with the assessed property value, you can contact MAA directly by calling 1-877-777-2807 to discuss your concerns or questions with an assessor. You can also file an appeal. The appeal form is found on the back of your assessment notice.
●The Municipal Assessment Agency is an independent corporation established under the "Corporations Act". This corporation is responsible for assessing values of properties in Newfoundland and Labrador including residential and commercial properties for the Town of Makkovik.
For further detail on the assessment process, please visit their website at www.maa.ca
Council's responsiblity
● Each year, the Makkovik Inuit Community Government is responsible for setting the mil rate for property tax which is currently 0.008 mils.
Using the 0.008 mil rate, a taxpayer with a property valued at 35,000.00( EX) would be invoiced the amount of $ 280.00 for property tax by using the following formula:
0.008 mils x $ 35,000.00=$ 280.00
What can I do if I think my property value should be more/ or less?
In October of each year, the Municipal Assessment Agency mails out an assessment notice to property owners. If you are not in agreement with the assessed property value, you can contact MAA directly by calling 1-877-777-2807 to discuss your concerns or questions with an assessor. You can also file an appeal. The appeal form is found on the back of your assessment notice.