How is the estimated tax calculated?
The assessment notice includes an estimate of the 2011 property tax levy, excluding any council approved budget changes. The estimated 2011 tax amount reflects the effect of any change in market value of your property if there were no changes in the City’s revenue requirement . This estimate shows the impact of the market value change only. Any change in property tax revenue requirements (municipal or provincial education tax) from last year are not reflected in this estimate.
Related Questions
- Can estimated quarterly tax payments be calculated using current year premiums, rather than the previous years tax liability?
- Can estimated quarterly tax payments be calculated using current year premiums, rather than previous years tax liability?
- How is average tax calculated? How does it differ from the marginal rate?
