Assessed property values have gone down a bit in North Bay. The Municipal Property Assessment Corporation says the assessment on a home valued at $222,000 is down about $6,000 from 2012. Waterfront homes are down about $2,000 while there’s virtually no change for condos. The notices reflecting the decreases start going out April 25th.
A point to keep in mind is just because assessments have gone down, doesn’t necessarily mean you’ll pay less in taxes since mill rates determine what taxes you pay. The full decrease in assessed values will be applied immediately. Homeowners have 120 days to ask for a Request for Reconsideration after getting their notices if they disagree with the assessment