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Newly Constructed Homes

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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 bill will be retroactive to the date that you purchased the home.

To plan for these supplementary tax bills, we recommend you estimate your annual property taxes, by multiplying the purchase price of your home by one per cent and save this amount. When these multiple bills do arrive, you will have the money saved and they will not be a burden. Alternatively, you can join the pre-authorized payment plan to have payments automatically deducted from your bank account.

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