How to go about securing the best policy for your insurance in Canada.
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Here’s when you might be able to apply for lower property taxes
– moneysense.ca
Owning a home comes with a long list of expenses that go beyond a monthly mortgage, whether that’s replacing an old roof, paying for home insurance, or keeping up with climbing property taxes. While many costs are fixed, experts say there might be some wiggle room on property taxes to get the amount lowered or a potential refund. But first, you need to know if there is merit for an appeal.
“Taxes are one of the biggest expenses associated with owning property,” said Raymond Williams, vice-chair for the Ontario chapter of the Canadian Property Tax Association. But he said: “It’s important to know that it can change, you can reduce them, and it’s just being aware of all the programs and options available.”
Watch for property assessment errors
Williams said every homeowner should periodically check their property taxes for any factual errors, such as the wrong lot size that their home was assessed on, or surprise tax increases. “If suddenly there’s a large jump in your taxes, chances are something changed on the assessment,” Williams said…
