Ontario Property Assessment Corporation: Individual municipalities in Ontario, Canada were responsible for the provision of assessment services before 1970. However, the introduction of the Ontario Property Assessment Corporation Act resulted in significant changes in tax assessment in the province. The legislation paved way for the establishment of the Ontario Property Assessment Corporation, which has continued to evolve since its inception. One of the main reasons for the creation and introduction of this organization was to enable the province to take over tax assessment, which was traditionally the responsibility of individual municipalities. The province would take over tax assessment in attempts to return the function to the local government after the development of a consistent and province-wide framework of assessment. Moreover, the organization was created following calls for greater control over the management of major elements of local property tax system by individual municipalities.

History of Ontario Property Assessment Corporation:

As a federal country, Canada has three levels of government i.e. federal, provincial, and municipal governments. However, municipalities are only recognized in the country's Constitution on the basis that they are the responsibility of their respective provinces. Due to the nature and levels of government in Canada, policies on property tax can vary across provinces. Generally, property taxes among provinces are levied on commercial, residential, and industrial properties. In the province of Ontario, property tax is regarded as a local tax except in the province's education sector. Ontario has experienced the need for tax assessment reform from time to time due to major issues or factors.

In 1967, Ontario Committee on Taxation discovered inequities in the province's tax assessment system (Slack, p.5). Some of the major inequities that contributed to the need for assessment reform occurred within...

This contributed to some major reform initiatives such as reassessment at local option and provincial takeover of assessment. The need for provincial takeover of assessment was the basis for the creation of the Ontario Property Assessment Corporation and the development of a consistent assessment framework for the province. The reforms resulted in the takeover of tax assessment by the province and the eventual relieving of municipalities from the cost of the function. These measures were geared towards achieving equity between municipalities and between property owners in every individual municipality.
As previously mentioned, the Ontario Property Assessment Corporation was established following the enactment of the Ontario Property Assessment Corporation Act. The corporation was formed in order to return the function of tax assessment to local government based on a province-wide and consistent assessment framework ("Ontario Budget Update," par, 1). The introduction of this organization was also accompanied by the establishment of the Ontario Fair Assessment System, which was part of tax reforms in Ontario. Notably, the Act was introduced after consultations between the local government and representatives of individual municipalities in the province. The other stakeholders involved in the process include municipal staff associations and the Association of Municipalities of Ontario. The consultation led to the establishment of a forum to advice the government and shared its views on tax assessment.

According to the Ontario Property Assessment Corporation Act, Ontario Property Assessment Corporation consists of a 14-member Board of Directors. The board is made up of 12 municipal members, 6 municipal officers or employees, and 6 elected officials. In addition, the other 2 members of the board will be appointed by the Minister of Finance to represent the other stakeholders in tax…