Municipal Taxation
PROPERTY TAXES
Property taxes in Ontario are collected based on a percentage of your property's current market value assessment (CVA). Each municipality is required to collect property taxes, and set the tax rates for the various property types. Municipal tax rates vary depending on the property type. The tax rates in Minto for selected property types and the portions attributable to the County, School Boards and Town are shown in the following table.
Your annual tax bill is calculated by applying the tax rate against the current market value assessment of your property (Current Market Value Assessment x Tax Rate = Total annual taxes). For example, if your industrial manufacturing property has a current market value assessment of $800,000, the annual taxes for 2011 would be $800,000 X 0.04851843 = $38,814.72.
2011 MINTO TAX RATES
| PROPERTY TYPE |
CODE |
TOWN
PORTION |
COUNTY
PORTION |
SCHOOL
PORTION |
TOTAL |
| Industrial |
IT/LT |
0.01318737 |
0.01676796 |
0.01757956 |
0.04851843 |
| Commercial |
CT |
0.00739849 |
0.00940730 |
0.01122856 |
0.02858614 |
| Residential |
RT |
0.00539581 |
0.00686087 |
0.00231000 |
0.01496911 |
| Multi-Residential |
MT |
0.01079163 |
0.01372174 |
0.00231000 |
0.02762823 |
Source: Town of Minto Treasury Department, Telephone 519-338-2511 ext. 235
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