Tune into our Essex Ontario YouTube Channel Monday at 4:30 for our first 2022 budget walk through. The following road projects in Ward 1 are carry overs- Victor, Viscount Parkway and the Maidstone-Gosfield- Arthur intersection.
Proposed Property Tax Increase:
“The unapproved change to the Municipality’s general mill rate for the 2022 Budget is 1.8%. To establish a property’s assessed value, the Municipal Property Assessment Corporation (MPAC) analyzes sales of comparable properties in a property’s area. This method, called Current Value Assessment (CVA), is used by most assessment jurisdictions in North America. In addition, MPAC looks at all of the key features that affect market value (up to 200 factors are considered). The assessed value and classification of a property is used as the basis for calculating property taxes. To help provide an additional level of property tax stability and predictability, the Ontario Government introduced a phase-in program for market increases and decreases. An increase in assessed value is introduced gradually, while a decrease in assessed value is introduced immediately. A property that experiences an increase in assessment would have that increase phased in over a four-year period. This four-year period is called an ‘Assessment Cycle’. The Assessment Cycle for the period beginning in 2021 through to the end of 2023 has been postponed. At the time of printing a new date for the next Assessment Cycle has not
been released. The year-over-year growth as a result of construction experienced in Essex (new residential, industrial, commercial) is estimated to contribute an additional $370,000 to revenue from Property Taxation.”
The first two pictures are the roads being proposed
Council Projects Outside of Budget- NOT Included
