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Tax Forms - Business
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| Download all Taxes and Assessment related forms. Every form is in PDF format and requires Adobe Acrobat Reader to be installed on your computer. This software is free and available from the Adobe Website. | ||
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Your Tax Bill For the purpose of calculating your taxes, a phased-in assessment amount is used. Where your assessment has increased from previous valuation date, your assessment increase is phased-in over four years (for example, 25% adjustment in each of 2009, 2010, 2011, and 2012). Reassessment related tax increases on commercial, industrial, and multi-residential properties are no longer limited through a cap unless they were capped in 2010 and continue to be capped in 2011 or clawed back in 2010 and continue to be clawed back in 2011. Properties which would move from capping to claw back or vice versa are billed at CVA taxes. For those properties that are capped, the cap is calculated as follows: The greater of
The cap is funded through a claw back of assessment related tax decreases. The 2011 claw back rates are as follows:
If the property is within $250 of CVA taxes after the claw back is applied, the property will pay taxes at CVA and receive the full amount of their assessment related decrease. If your property is capped, your bill contains an "Explanation of Multi-Residential, Commercial and Industrial Property Tax Calculations" section which highlights the capping calculation and the various tax increases for your property. |
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Residential Tax Information
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| Residential Tax Information - find out more information, download forms and review tax rates online by visiting our residential tax & assessment page. | ||
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