An assessment appeal from Home Depot stores in Ontario will have roughly a $120,103.79 impact on the Township of Laurentian Valley.
The Assessment Review Board has been working on appeals for Home Depot stores across the province from 2017 to 2020.
The municipal tax impact in Laurentian Valley is $32,802.77, the sewer portion will have a $21,834.34 impact and the cost of doing business is $65,466.68.
The roughly $120,000 will be paid to Home Depot through $20,000 budgeted for general operating and $30,000 from the wastewater budget.
If required the remaining amount will be paid through an asset account of $114,000 for uncollectible taxes.
Treasurer Charlene Jackson explained to council on November 17th, that there are still outstanding big box store appeals in Laurentian Valley.
Jackson says LV Square and Walmart are still waiting for their assessment reviews to come back, but she adds Canadian Tire had no change from the years 2017 to 2020.
Councillor Allen Wren suggested sending a letter to MPAC (Municipal Property Assessment Corporation) to voice displeasure regarding the length of time it takes to complete these assessments.
Wren says if an assessment is being appealed it’s likely because MPAC didn’t do their job in the first place and the Township shouldn’t be impacted to this magnitude.
Reeve Debbie Robinson also supported the suggestion to send a letter to MPAC.
Robinson says these big box stores have every right to appeal their assessment, but says it’s a devastating impact on the community and she feels there should be an 18-month turn around on these assessments.
Jackson told members of council the full tax impact has been forwarded off to the regional representative for MPAC.
Tax impact regarding the Assessment Appeal of Home Depot in Laurentian Valley for the amount of $120,103.79
