FACTOR METHODOLOGY
This is the total number of factor methodologies in use.
What is 3?
Once an______, always an _______.
What is an OMIT?
Under Section 32 of the Assessment Act, this notice allows the correction of errors in assessment or classification caused by incorrect factual information, not a change in opinion of current value.
What is Post Roll Amended Notice (PRAN)?
This authority code is used to adjust a property’s assessed value for physical changes, such as construction, renovations, or demolitions, that are not yet reflected in the assessment roll.
What is YEA?
This term refers to a secondary structure providing additional living accommodation, often located in the rear yard of a Detached House.
What is an Additional Dwelling Unit (ADU)?
This factor is applied when a property owner renovates and adds an addition to their existing home.
What is the Property Specific Adjustment Factor (PSDF)?
An assessment omitted from the roll falls under which section of the Assessment Act?
What is Section 33?
This notice reports revised phase-in values resulting from a decision that changes the starting point or destination value and is used when no other method exists to report the revised values.
What is Advisory Notice of Adjustment (ANA)?
Alteration, addition, improvement, or demolition of a structure; change in use, severance or consolidation of land, are examples of this type of nature of change.
What is physical change?
This letter is sent to property owners, requesting them to confirm property information.
What is Property Information Contact Us Letter or Letter H?
This factor is applied when a property's CVA is revised due to a missing 'abuts hydro corridor' variable.
What is the Reset?
This type of assessment is governed by Section 34 of the Assessment Act.
What is Supplementary Assessment?
This process involves dividing a single property into two or more separate properties.
What is severance?
A house is assessed $50,000 higher than a neighboring property due to an incorrect proximity variable. What authority code and factor methodology are applied to correct the value and reflect the adjustment in the next tax year?
What are YEE and RESET?
This free online tool allows property owners to review their property information, compare it with others in their area, and file a Request for Reconsideration.
What is AboutMyProperty (AMP)?
This factor is applied when a RU RT property owner renovates a property to accommodate a senior disabled person, and an exemption is granted on part of the house.
What is the Municipal Discount Factor (MDF)?
A new structure completed in a taxation year but not used for any purpose during that year becomes liable for this assessment effective January 1 of the next taxation year.
What is Omitted Assessment?
This notice is issued when changes under the Assessment Act, its regulations, or the Education Act impact your property assessment.
What is a Special Amended Notice (SAN)?
Changes in valuation approach, judgment on subjective data, or the correction of an error not tied to a physical change are categorized as this type of nature of change.
What is equity change?
All properties with an Additional Dwelling Unit (ADU) will have their existing Property Code updated to this PC.
What is PC 302?
What is the length of the current phase-in cycle for property assessments in Ontario?
What is four years?
This notice is issued for the construction, alteration, enlargement, or improvement of any building or structure.
What is Property Assessment Change Notice (PACN)?
This form, whose full name must be provided, is used to supply details about the severance or consolidation of a property.
What is Severance Consolidation Information Form (SCIF)?
Following a property inspection, a discrepancy in the applied quality class is identified, requiring an update to the CVA. Which authority code is used?
What is YEE?
This request addresses exemption, classification and is used for matters like valuation inquiries, RFRs, Appeals, and Tax Applications.
What is a Legislation Interpretation Request (LIR)?