Condo Fees and Property Taxes
Condo Maintenance fees and property taxes are a negative factor for condo sellers, yet in every condo building, they must be paid. Condo fees are payments made by condo owners to pay for the common expenses of maintenance of the building, grounds, and security. These fees sound like a burden, however if you owned a single family dwelling, you would have to pay for the upkeep yourself. Security, hall cleaning, window cleaning, snow removal, parking, building insurance, operations management (elevators, water/utilties, grounds maintenance and the salaries of condo staff are vital to keeping your home's surroundings safe and pleasant for you to live in. In some buildings, you may have to pay for water, heat, and cable tv separately.
Each neighbourhood in Mississauga and each home and street have a different assessed value for tax purposes. Each condominium complex has its own maintenance fees. They may range from $200 to $500 each month.You may be able to find out about condo fees in specific condo buildings in our condo section.
Condo taxes are separate and must be paid in addition to your condo maintenance fees.
Property Tax Assessment & Market Value
A property tax is a special tax rate applied to residential and commercial real estate in Mississauga. The property owner is responsible for paying the tax. The best way to find out about property tax rates is to send us a message and we can send the info you need. Alternatively, you can try our property tax calculator to give you a rough estimate.
The current Mississauga property tax rate for residential properties is 0.482745%. You can calculate the tax rate yourself by using our land tax calculator. Multiply the rate by your property assessment value.
The Municipal Property Assessment
Corporation (MPAC) is responsible for placing assessment values on all properties in Ontario.
Last fall, you received a Property Assessment
Notice from MPAC which contained an assessed
value for your property and a 2009 phased-in
assessment value. For billing purposes, the
2009 phased-in assessment value is used to
calculate 2010 property taxes.
Property owners wishing to appeal their
assessment must first make application to
MPAC for a Request for Reconsideration (RFR).
Property owners who disagree with the decision
of MPAC at the conclusion of the RFR process
may file an appeal with the Assessment Review
Board (ARB) within 90 days of MPAC’s decision.
The deadline for submitting an RFR application
to MPAC has passed.
When you purchase or transfer title of a property,
you will be charged a fee of $25 to change the
information on the tax roll.
There is also a property transfer tax charged by the province of Ontario.
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