Treasury and Taxes
The Treasury Department is responsible for all municipal funds.
Taxes are billed twice per year. Each bill has stubs for two installments.
|2017 Installment Dates|
|Interim bill||February 22, 2017||May 17, 2017|
|Final bill||August 16, 2017||October 18, 2017|
Payments may be made through telephone banking, on-line banking, pre-authorized withdrawal and by debit card. We do not accept credit cards.
Some of our subdivisions are on municipal water systems. Meters are read and billed monthly. Rates are based on a sliding scale.
Unpaid taxes and water bills incur a penalty of 1-¼% a month (15% per annum).
|Select 2016 Tax Rates|
To calculate your property taxes, multiple the tax rate by your assessed value and divide by 100 [assessed value x rate / 100] or use the Property Tax Calculator below. To determine your Assessed Value see What is MAPC below.
» Download the 2016 Tax & Tax Rates Brochure
What is MPAC?
The Municipal Property Assessment Corporation (MPAC) is an independent, not-for-profit corporation funded by all Ontario municipalities. Their role is to accurately assess and classify all properties in Ontario according to the Assessment Act and regulations established by the Ontario Government.
This year, every property owner in Ontario will receive a Property Assessment Notice from MPAC updating the value of their property based on a valuation date of January 1, 2016. The assessment will be applicable to the 2017-2020 property tax years.
2016 updates to your property's assessed value
In 2016, the Municipal Property Assessment Corporation (MPAC) is updating the assessed value of ever property in Ontario. All properties will have a legislated valuation date of January 1, 2016. These values will be used by Mono to calculate property taxes for the 2017-2020 property tax years.
Residential property owners in Mono can expect to receive their Property Assessment Notice starting July 25th, 2016. Notices for business properties and farms will be mailed in the fall of 2016.
When you receive your Property Assessment Notice, review it. No further action is required on your part unless you have questions or you disagree with your assessed value and/or classification.
If you have questions, or would like to learn more about how MPAC assessed your property and compare it to others in your neighbourhood, visit aboutmyproperty.ca. You can also review market trends for your municipality and file a Request for Reconsideration. Your unique Roll Number and Access Key are included on your 2016 Property Assessment Notice.
- 1 866 296-MPAC (6722)
Access for the Deaf, or Hard of Hearing is available by calling 1-877-TTY-MPAC (6722) or through the Bell Relay service
- Fax: 1 866 297-6703
Frequently Asked Questions (FAQs)
The following Q&As will help answer questions that many property owners have about the 2016 Assessment Update.
Every four years, MPAC updates the value of every property in the province as part of Ontario's assessment cycle. The current Assessment Update is taking place in 2016, based on a valuation date of January 1, 2016. These assessments will be applicable to the 2017 - 2020 property tax years.
MPAC's assessments provide the foundation on which municipalities base property taxes. Municipalities use the assessment base to calculate property taxes to pay for local programs and services, such as police and fire protection, roads, parks and facilities.
The cycle for province-wide Assessment Updates is every four years, as required by the Provincial government. The last update was in 2012, meaning the next update is set to occur this year.
The 2016 Assessment Update is based on a legislated valuation date of January 1, 2016.
To ensure consistency, MPAC values each property based on a legislated valuation date. For the 2016 Assessment Update, the valuation date is January 1, 2016. MPAC uses the valuation date as the common date for determining what a property could have reasonable sold for, if purchased by a willing buyer as of January 1, 2016.
To establish a property's assessed value, MPAC analyzes sales of comparable properties in the property owner's area and all the key features that affect market value. This method, called Current Value Assessment (or CVA), is used by most assessment jurisdictions in North America.
For residential properties, there are five major factors that generally account for 85% of a property's value:
- Lot dimensions
- Living Area
- Age of property (adjusted for any major renovations or additions)
- Quality of construction
Values for the 2016 Assessment Update are derived from market analysis, data collection and preparation, and property level reviews.
Residential property owners in Mono will receive their new assessment notice by mail around July 25, 2016.
Non-residential property owners will receive their new assessments beginning October 11, 2016.
MPAC's property assessments provide the foundation upon which municipalities base property taxes. Here is how it works:
- Mono Town Council determines how much it costs to provide all the services offered by the Town including roads, police and fire. Two-third's of Mono's budget goes towards these three services.
- The Town then takes the total assessed value of all properties Town wide and uses that to determine the tax rate for each class of property (residential, farm, commercial & etc.). to ensure that the taxes raised will cover the budget.
- The tax rate is then used to calculate how much tax each property owner will pay.
- In addition to the municipal tax rate, the Province sets the education tax rate and Dufferin County sets the County tax rate. All three combined constitute your total property tax bill.
Please see the Rates Table earlier on this page to see the individual tax rates for the municipal, education and County portion and the overall tax rate. You can use the Property Tax Calculator to determine the taxes paid based on the assessed value and tax class of a property.
If the assessed value of a home increases more than the average increase of other properties in Mono, you will likely end up paying more property tax. If the increase in value is less than the average, you will pay proportionally less property tax.
Under the Assessment Act, assessment increases are introduced gradually over four years for all property classes. As such, market increases in assessed value between the January 1, 2012 and January 1, 2016 legislated valuation dates will be introduced gradually over four years (2017 - 2020). The phase-in program does not apply to decreases in assessed value; decrease are applied immediately.
Residential notices went out in July. Non-residential property owners will receive their new assessments beginning October 11, 2016. Property owners should contact MPAC's Customer Care Centre at 1-866-296-MPAC (6722) if they have not received their Property Assessment Notice by the anticipated date.
Property owners should review their Notice, and determine whether they could have sold their property for the assessed value as of January 1, 2016. The next step is to visit AboutMyProperty.ca to learn more about the way in which the value was derived, and compare their assessment with others in their neighbourhood or area.
If you still have questions, you can call MPAC's Customer Care Centre at 1-866-296-MPAC (6722).
If you disagree with MPAC's assessment or classification of your property, you can file a Request for Reconsideration (RfR) and MPAC will review your assessment. The deadline to file an RfR is indicated on your Notice of Assessment.
There are three ways to file an RfR:
- Using AboutMyProperty.ca, you are able to attach documents, picture and reports to accompany your RfR as well as monitor the status of your request.
- Go to mpac.ca/ContactUs and complete the Contact Us form.
- Submit a request in writing to:
MPAC, Attention GRAD
P.O. Box 9808
Toronto, ON M1S 5T9
Be sure to include your 19-digit Roll Number found on your Property Assessment Notice, the property owner's full name, address and telephone number. Include the reason(s) for your request and any supporting documents.
Beginning in 2016 for the Assessment Update, property owners will have 120 days from the Issue Date of their Proerty Assessment Notice to file an RfR. The Issue Date and the RfR deadline are included on your Property Assessment Notice.
Pre Authorized Payment Plan
Residents may choose one of two options for their pre authorized payment plan for property taxes. They may pay by installment due date or on a monthly payment plan.
Monthly Payment Plan
Your Interim Tax Bill will be divided into six equal installments which will be withdrawn on the 15th of each month from January to June. The Final Tax Bill will be apportioned in the same manner and withdrawn from your bank account on the 15th of each month from July to December.
If you join the plan after there have already been withdrawals for the year we will divide the amount owing by the number of months remaining in which to cover that bill. For example, if you join in March but after the 15th your remaining balance will be divided into three payments and withdrawn from April to June.
You may, optionally, elect to pay the missed installments by cheque in order to lower the subsequent withdrawals.
Supplemental Tax Bills
Should you receive a supplemental tax bill for added assessment, for example a new sunroom, this amount will be factored into the remaining withdrawals. Again, should you wish to pay these amounts outside of the plan you may. If your Supplemental is for multiple years or for an unusually large amount you may contact the Tax Clerk to discuss a payment plan.
A pre authorized payment plan is also available for water billings. The only option available for water customers is to have payments withdrawn on the billing due date.
» Go to Water Rates table
A service charge of $I0.00 will be added to your account for any returned items. The missed payment, plus the charge, will be added to the next withdrawal or may be replaced outside of the plan. Should more than one item be returned, your payment plan will be discontinued.
Should you have any questions concerning preauthorized payment of taxes or water, please contact Cathy Janzen, Tax and Water Clerk at 519.941.3599 ext. 223.