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Property Tax Billing

Interim Tax Billing

Interim property tax billing reflects taxes due for the first six months of the year, billed with two instalment due dates. The Interim Bills are typically sent out in February, with payments due in March/May.

  • Interim taxes are based upon 50 percent of the previous year's annual property taxes; in most cases this will be your previous year assessment times 50 percent of the previous year tax rate.
  • For accounts that did not exist in the previous year, interim taxes are approximately 50 percent of a full year's estimated taxes.

Final Tax Billing

Final property tax billing reflect taxes due for the last six months of the year, with two instalment due dates. Final bills are typically sent out in June, with instalments due in July /September.

Important information

  • Taxes are calculated by multiplying the tax rate by the assessed value of the property.
  • While the city collects and distributes tax dollars on behalf of the Region of Waterloo and the School Boards, the city does not determine their rates.
  • The Municipal Property Assessment Corporation (MPAC) determines the assessment value of a property. Homes are assessed, based on a number of factors including: lot size, square footage, the number of bedrooms and bathrooms

Supplementary Tax Billing

Owners of a newly built/renovated home

  • If you have recently bought a new home or made any additions or improvements to your property, remember to make allowance for a Supplementary Tax Bill in your budget plans.
  • For the first 12 to 18 months after occupying a newly constructed home, or until the Municipal Property Assessment Corporation (MPAC) is able to complete an assessment of the home, your property tax bills may cover the land only, not the building,
  • There may be a considerable delay from your occupancy date until you receive a tax bill that includes the home
  • Once the property is assessed, the new homeowner will receive a Property Assessment Notice from MPAC. A Supplementary Tax Bill will follow with taxes covering the building from the date of occupancy. Residents are strongly encouraged to budget for this billing. If your mortgage payment includes taxes, please forward your supplementary bill to your mortgage company.