Supplemental Taxes

Annual Tax/Assessment notices are issued in June and are the assessed value of the property as of Dec. 31 of the previous year.

Supplemental Tax/Assessment notices are issued to all new homes, buildings or additions to an existing building or property that have been completed/occupied within the current tax year. This reflects the increase in value of a property throughout the calendar tax year.

A supplementary tax is determined by multiplying the supplementary assessment by the tax rate, and pro-rating this amount based on the period of time the building has been completed or occupied for the current tax year.

A property may have been assessed as vacant land for the current tax year. Therefore, when the construction of the home was fully completed later in the year, a supplemental tax notice is prepared for the months of completion to the end of December.

Example:

• 2019 assessment = 216,920.00 (assessed as vacant land as of Dec.31/18)
• February 2020 - construction on the home began.
• June 2020 Tax notice = $1,623.53 (taxes based on the vacant land assessment)
• September 2020 - house is completed and owners have moved in
• November 2020 - Supplemental Tax notice issued:
• Supplemental Assessment value = 216,140.00 x (0.007484459) =$1,617.69

$1,617.69 /12 months= $134.81 per month x 4 months (September to December) = $539.23


Supplemental assessments ensure that everyone pays their fair share of municipal taxes according to the current value of their property and the municipal services that they are receiving.


Note to New Property Owners Regarding Supplemental Taxes