provincial land tax plt ministry of finance information sessions august 2008
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Provincial Land Tax (PLT) Ministry of Finance Information Sessions August 2008

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Provincial Land Tax (PLT) Ministry of Finance Information Sessions August 2008. Key Information on PLT Reform. No new revenue from PLT About ½ of properties will see tax decreases Of those with increases, 90% up less than $150. Today’s Agenda. Opening Remarks (5 minutes)

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Presentation Transcript
key information on plt reform
Key Information on PLT Reform
  • No new revenue from PLT
  • About ½ of properties will see tax decreases
  • Of those with increases, 90% up less than $150

Ministry of FInance

today s agenda
Today’s Agenda
  • Opening Remarks (5 minutes)
  • Explain PLT reform (15 minutes)
  • Answer questions, receive feedback (100 minutes)

Ministry of FInance

context
Context
  • PLT properties last assessed in 1940s
  • Antiquated assessment appeal process
  • No enumeration in Unincorporated Territory
    • Unfair apportionment of DSSAB costs
  • Inefficient billing practices

Ministry of FInance

assessment reform
Assessment Reform
  • PLT based on Current Value Assessment (CVA)
    • 2009
  • Assessment notices – Fall 2008
  • Reformed appeal process
  • Large increases in assessment do not mean large increases in taxes
    • Reform will not increase provincial revenues

Ministry of FInance

tax reform
Tax Reform
  • Standard property classes for PLT
  • Multi-residential rate = residential rate
    • Farm/Managed Forest = 0.25 residential rate
  • Interim-PLT combined with PLT in school boards
  • Minimum tax remains $6.00 per year
  • Average residential tax -- $130
  • Of those with tax increases, 90% up less than $150

Ministry of FInance

maximum plt rates 2009 2012 current plt rate 1 5 per cent
Maximum PLT Rates 2009-2012 Current PLT Rate 1.5 per cent

Ministry of FInance

estimating plt
Estimating PLT

Ministry of FInance

examples
Examples

Ministry of FInance

impacts of reform
Impacts of Reform
  • About ½ of properties will see tax decreases
  • About ½ of properties will see tax increases
  • Of those with increases, 90% up less than $150

Ministry of FInance

local roads and services boards
Local Roads and Services Boards
  • Some LRBs / LSBs use PLT tax base
    • Will use CVA from 2009 on
  • Option to join “one-bill” system
    • With PLT and Education taxes
  • More information and tools this Fall

Ministry of FInance

as further information becomes available
As further information becomes available….
  • Ministry of Finance Website
    • www.fin.gov.on.ca
  • Ministry of Revenue Website
    • www.rev.gov.on.ca
  • Ministry of Revenue Call Centre
    • 1-866-668-8297

Ministry of FInance

questions comments
Questions?Comments?

Ministry of FInance

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