Chatham-Kent's overall residential property values saw an average increase of 1.8% this year, but that's well under the provincial average.
The Municipal Property Assessment Corporation (MPAC) has mailed out its notices to Ontario residents, with the province seeing an average value uptick of 4.5%.
"There are a lot of different market forces in the province, the City of Toronto for example is within that 4.5%," says MPAC Regional Manager Amanda MacDougall. "There are certain pockets in the province that are seeing much higher increases than Chatham-Kent."
MacDougall adds 85% of property assessment values are based on five factors: location, lot size, living area, age of the property, and quality of construction.
Any residents who feel their property was undervalued can ask for a reassessment by August. For more on that process, and to see local value trends, click here.
