Assessments & Appeals
We help you understand the valuation parameters, legislation and tax policy that drive each property’s assessment and tax liability.
We assist clients in reducing their property tax burden by appealing inequitable or erroneous property assessments.
Unlike other taxes, property tax assessments are based on the estimated value of the property, and thus, are subject to varying opinions. Property taxes represent a significant portion of your operating costs. Minimizing this tax liability improves the competitiveness and liquidity of your assets.
Our consultants specializing in the field of Municipal Taxation boast a combined experience of 25 years and are adept at filing tax contestations, negotiating settlements, and working in close cooperation with experts (lawyers-municipal law) to debate all relevant issues before the real estate administrative tribunals.
We strongly recommend that property owners gather all relevant information, such as Notices of Assessment, tax bills and economic data (i.e. rent rolls, statements of income and expenses, and the like) and seek counsel as to whether the subject property should be the object of a tax contestation.
We also assist our clients in the following areas:
Realty tax budgeting and due diligence
Budgeting future taxes on existing properties
Estimated taxes on new developments
Complete due diligence reviews on potential acquisitions
Tax management: real estate tax recoveries consistent with lease tax clauses permitting an accurate allocation of taxes.
THE TAX APPEAL PROCESS
A contestation or assessment appeal is a two (2) stage process. It begins with the filing of an Application for Administrative Review (the “Application”) which is submitted to the assessing authority (for example: Service d’évaluation de la Ville de Montréal), using the prescribed form to urge the grounds which would justify a reassessment of the subject property, the whole accompanied by the appropriate filing fee and postmarked no later than April 30th of the first year of the triennial roll.
Such initial review process allows both the taxpayer and municipal assessor to express their respective opinions in a strictly administrative context, without, however limiting the taxpayer’s recourse.
The municipal assessor has the obligation to respond to the Application by no later than the fall of the first year of the triennial roll.
In the event the municipal assessor disputes the assertions of the taxpayer, the next step requires the filing of a Motion Introductive of Recourse with the Administrative Tribunal of Québec, Real Estate Affairs Division (Tribunal Administratif du Québec, section des affaires immobilières). Such motion must follow the prescribed form (albeit different from that of the administrative process) and must also be accompanied by a filing fee corresponding to the subject property’s assessment.
ABMS Chartered Appraisers are pleased to announce our strategic alliance with Ilookabout / Yeoman & Company Paralegal Professional Corporation. Through our alliance we will be pleased to assist our clients and friends with their property tax needs within the Province of Ontario.
Established in 2000, Ilookabout focus has been on geo-spatial imagery to facilitate the visualization of data. Serving a myriad of markets, iLOOKABOUT’S solutions enable both business and government (appraisers, lenders, brokers, lawyers, property professionals, municipal practitioners, etc.…) to better understand and manage real property.
Most recently their focus has turned to meet the specific needs of the assessment and property tax community. In that capacity and jointly developed with Yeoman and Company iLOOKABOUT’S have created a unique platform that integrates data from a multitude of sources including the Assessment roll, MCP files with sales and GeoViewPort mapping and information. This has created a unique strategic alliance between the two firms.
Yeoman and Company are experienced tax advisors, vast majority of whom were founding members of a leading property tax firm throughout North America. In 2012 they established Yeoman & Company in order to build a unique and comprehensive consulting practice to focus on the data analytics side of the business to affect change in the property tax environment. Yeoman & Company specializes in the review and appeal of property tax assessments.
David P. Gibson, M.I.M.A., PLE
12-17075 Leslie Street, Newmarket, Ontario, L3Y 8E1