Residential property owners in Brantford can expect an average assessment increase of 1.7 per cent next year, according to the local Municipal Property Assessment Corporation office.
That increase will be repeated annually for the next four years as a 7.9 per cent increase in urban property values comes into force. Decreases in assessment are applied immediately.
Residential property values in the County of Brant are up by 8.3 to 10.8 per cent, meaning taxpayers will see an annual increase of 1.7 to 2.4 per cent during the four-year phase-in period.
Seasonal waterfront property in the county has increased in value by 14 to 21 per cent and farmland has seen a 64 per cent increase.
A higher assessment does not automatically result in a property tax increase.
MPAC has mailed out 93,000 notices to local landowners, who can verify their assessment by comparing their property to others in their community at www.aboutmyproperty.ca. MPAC will review problematic assessments free of charge.