New property assessment notices are being mailed by MPAC to home owners in Sault Ste. MArie and Algoma District as of this week. On average, residential properties in the City of Sault Ste. Marie are increasing but less than the provincial average.  The average assessed value of a home in the Sault as of January 1st comes in at 193-thousand dollars—an increase of 18-thousand dollars or just over 11% from 4-years ago.  That compares to a province wide average of 18%.  Those that disagree with their assessment can ask MPAC to review it by filing a request for reconsideration.  Walter Veneruzzo is with MPAC’s customer relations in Thunder Bay and he talks about the time lines for review…

If a homeowner is still not satisfied with the review, the matter can be appealed to the Assessment Review Board.  Four years ago, residential assessments were higher than the provincial average.  Assessments in Sault Ste. Marie increased by 25% while the province wide average was 17%.
Veneruzzo talks about the northern results compared to the province as a whole…

 

North Bay saw a decrease in its values with the average residential assessment dropping 8.8%.  Sudbury increased 5.2% while Timmins was similar to the Sault with an increase of 10% brining the value of a home as of January 1st to 190-thousand dollars.