If you have bought a new home or made any additions or improvements to your property, you should plan for a Supplementary Tax Bill.
You will get a supplementary tax bill if:
- You have received a new house or building assessment
- Your house or structure was recently built and it had only been assessed as vacant land when you bought it
- You have made renovations or improvements that have increased the property’s market value
After occupying a new home, tax bills might only cover the land for the first 12 to 18 months. The Municipal Property Assessment Corporation (MPAC) needs time to assess the structure. The land taxes are usually about one third of the total tax bill, depending on the type of house. It might take a while until you receive a tax bill that includes the structure.
Once your property is assessed, you will get a "Property Assessment Notice". Then, you will get a Supplementary Tax Bill. If your mortgage payment includes taxes, the Supplementary Tax Bill will be sent to the bank dealing with your payments.
The City strongly encourages you to budget for this billing.