On March 15th, 2013 the Assessment Review Board ruled that a superintendent’s unit in a condominium corporation should be assessed, for taxation purposes, at the nominal rate of nine (9) dollars. As a result, there is effectively no municipal tax payable for the superintendent’s unit. To take maximum advantage of this recent decision, condominium corporations must file a Request for Reconsideration with the Municipal Property Assessment Corporation (“MPAC”).
The deadline for filing a Request for Reconsideration with MPAC for 2013 is April 1st, 2013.
This recent decision of the Assessment Review Board is important because it applies not only to superintendent units, but extends also to other common amenities service units, such as parking, guest suites, mechanical, gatehouse, recreational and other units owned by the condominium corporation providing amenities or services to its unit owners.
The Assessment Review Board concluded that the market value of a superintendents unit was minimal and already reflected in the value of each owner's residential, parking and locker units.
Now the saga is not quite over, MPAC may decide to appeal the Assessment Review Board’s decision. Nevertheless, given the imminent deadline for filing the 2013 Request for Reconsideration, it would be wise for condominium corporations to consider filing a Request for Reconsideration just to preserve their rights. Condominium corporations can file a Request for Reconsideration even if they have already paid their property taxes.
The 2013 Request for Reconsideration form and all required enclosures may be submitted to MPAC, prior to the April 1st, 2013 deadline, by fax to 1.866.297.6703, by email through the “Contact Us” page on MPAC’s website or by mail to MPAC, PO Box 9808, Toronto, ON, M1S 5T9.