Supplemental Taxes / Assessments

Supplemental Taxes

Annual Tax/Assessment notices are issued in June and are tHome Under Constructionhe 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.

  • 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.