Property values in Bruce County were flat in the latest round of reassessments by the Municipal Property Assessment Corporation.
MPAC has sent out its 2016 property assessment notices to all residential properties in Bruce County, which are used to determine property tax calculations for the next four years.
Regional Manager of Municipal and Stakeholder Relations Rebecca Webb says they found property values are largely the same in Bruce County, with no change in the median assessment since the last round of assessments in 2012.
She says there's many factors that go into determining property value, but says the biggest factor is the real estate market, and the assessments should reflect how the markets are doing in each area.
Webb says properties seeing their values increase will have the increase phased in over the four years of the assessment period, while properties decreasing in value will drop to their new value immediately.
Bruce County Warden Mitch Twolan is a real estate broker in Huron-Kinloss and is not surprised by the results, adding there had been whispers that property values would be flat or dropping in parts of the county.
Agricultural assessments will be released this fall along with the commercial sector and that's where Twolan expects to see the biggest change.
"I think we will see an impact on the agricultural sector probably going up substantially in some communities, I'm assuming," says Twolan. "I haven't seen or heard for sure, but that is our anticipation."
With residential property owners seeing little-to-no change in their assessments, Twolan says it's the first time he can remember that he has not received complaints about the reassessed values.
Saugeen Shores saw the largest increase in the median assessment in Bruce County, with a 0.5% increase, while Kincardine saw the largest decrease in assessments, down 3.3%.
