Property owners of newly constructed homes will receive a tax bill for the value of the vacant lot only until the home is assessed by the Municipal Property Assessment Corporation (MPAC). A supplementary tax bill will then be issued for taxes on the value of the house only. This process can take up to two years and the tax bills will be retroactive to the date that you purchased the home. You may receive multiple bills; one for each year since the purchase date.
To plan for these supplementary tax bills, please contact Taxation Services who will calculate an estimated value based on the purchase price of your home. Alternatively, you can join the pre-authorized payment plan to have payments automatically deducted from your bank account.
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