If you own a multifamily, you should always examine your municipal property tax assessment bill closely every year and consider appealing the assessed value.

In this interview, I discuss with Gary Smith, property tax consultant with the Canadian Valuation Group (CVG) (https://tinyurl.com/2d789an2) the process for appealing municipal property assessment valuations.

As you can imagine, if the municipality overestimates the value of your apartment building, this means you'll get a fat property tax assessment bill, which in turn will reduce your net operating income (NOI) which in turn will lower the value of your multifamily property and reduce your cashflow.

Gary says most people don't realize they can do something about their assessment and ask for detail regarding he city's rationale for the assessed value.

You can reach Gary be at: Canadian Valuation Group

Although CVG is a mostly a Western-based firm, they can serve people across Canada.

In the meantime, go out there and love and be the master of your fate and captain of your soul.

Cheers!

Pierre-Paul