Property tax management & compliance
Property tax management & compliance
Get peace of mind with ongoing management of your portfolio’s property tax liabilities
Finding the time and resources to stay on top of property tax assessment legislation in each jurisdiction you operate while managing a myriad of tax bills can be challenging. Local and provincial governments continuously update tax policy through legislation, regulation and municipal by-laws. Operating in multiple jurisdictions increases your risk of non-compliance, which may result in additional costs or loss of potential tax savings opportunities.
Our access to national data and knowledge of the property assessment and tax legislation in each jurisdiction ensures you remain compliant where you own or lease property. Through our tax management services, we work closely with you to minimize risks, identify errors and pinpoint areas of concern to help predict and manage your property taxes. This will ensure your compliance with legislated requirements including assessment authority requests for information.
Optimize your bid with proper tax due diligence
Real estate transactions can significantly impact the tax burden of a property. Changes in use, sale price, demolition and construction can all impact the assessed value, classification and ultimately property tax payable.
Comprehensive tax due diligence should be performed for every asset or site purchase to provide greater certainty and mitigate risks that may be assumed during a purchase.
During the acquisition stage, we will:
- Review current property tax assessments
- Evaluate any outstanding appeals
- Ensure future assessment appeal rights are not compromised by the vendors’ inadequate or non-compliance with assessment authority information requests
- Review and analyze property tax recoveries to identify landlord shortfalls and errors in tax clauses, non-compliance issues, tax bill errors and grounds for assessment or tax appeals
- Identify potential risks or exposure to fluctuations in past, current or future years’ tax liability
- Verify tax classifications
- Provide accurate and detailed tax forecasts for pro forma financial modeling
Uncover opportunities for tax savings
Each stage of the development cycle should be closely monitored to ensure access to all available levies and grants. Altus consultants will provide tax forecasts which account for future phase-in programs, as well as anticipated municipal and school board budgetary requirements.
It is important to stay vigilant of legislative and municipal changes and to meet critical deadlines for providing information to the assessment authority.
During the development stage, we will:
- Project estimated taxes due to changes in value & tax classification
- Provide tax forecasts for development budgets and leasing
- Evaluate available levies and grants
- Anticipate future assessment and tax policy changes
Increase operational efficiency and minimize risk
Whether owning or managing property for the short or long term, proper oversight of realty tax obligations and recoveries minimizes the risk of tax shortfalls and maximizes opportunities for tax savings.
We can assist with ongoing tax management tasks for your operation, including:
- Tax bill payment processing
- Tenant tax allocations and recovery
- Third party opinions to facilitate landlord/tenant disputes
- Fulfillment of all compliance deadlines
- Detailed, reasoned forecasts for property tax budget and leasing needs
- Proactive planning for legislated reassessment cycles and mid-year supplementary assessments
Enhance value for resale
Well-managed taxes enhance the value of your asset. Protect your rights to ongoing appeals and/or outstanding refunds.
When selling property, we can provide advice on how the status of appeals and timing of refunds should be addressed in closing documents, then assuring that you protect your rights to ongoing appeals and/or outstanding refunds.
If repositioning assets, manage the risk of tax recovery shortfalls by establishing optimal tax recovery clauses for new developments.
Take advantage of our in-house services by leveraging one of our technical tax experts to manage your portfolio’s property taxes from within your office. An in-house tax professional saves you time in dealing with property assessment and taxation issues and increases your efficiency by allowing your accounting or lease administration staff to focus on other critical business operations. An in-house consultant has access to our extensive data and regional experts, enabling your operations to run seamlessly and ensuring compliance with jurisdictional requirements.
Tenant tax allocations
Take advantage of our comprehensive lease review and tax allocation audit. We will confirm that allocations are conducted in accordance with lease terms, current legislation and the most recent court decisions, thus managing risk and increasing recovery rates. Our services include:
- Reviewing leases to determine appropriate tax allocation methodology
- Preparing and/or auditing allocation schedules for multi-tenant properties
- Advising on the optimal structure of tax clauses to reduce risk of recovery shortfalls and maximize recovery
- Managing landlord/tenant tax allocation disputes
Tax bill payment processing
Don’t risk a missed or late payment. We can manage your property taxes, including all administration and payment, through our customized database. We will ensure all tax bills are received, verified and processed for payment on time, avoiding costly penalties.
Contact a qualified professional
Our multi-disciplinary team of professionals brings a wealth of industry experience and unparalleled data-driven insights, providing the clarity you need to make informed decisions.
Canadian Property Tax Rate Benchmark Report 2020
Oct 20, 2020
An in-depth look at property tax rates, both commercial and residential, in 11 major urban centres across Canada.
Changes to Alberta Assessment and Tax: Regulated Industrial Property Assessment Minister’s Guidelines
Jun 26, 2017
Alberta Announces Shallow Gas Property Tax Relief Program
Jul 3, 2019
Late in the day on July 2, the Alberta Provincial Government announced an immediate 2019 tax relief program for the province’s shallow gas producers who have been negatively affected by low commodity prices and the corresponding high assessment and property tax values.
5 property tax myths vs. facts: appealing your industrial property assessment
Oct 3, 2019
Arm yourself with the facts before you file an appeal on your industrial property assessment. Altus Group dispels five property tax myths about your industrial property.
Q&A | property tax relief during COVID-19
Mar 27, 2020
Frequently asked questions and answers about property tax relief during and following the COVID-19 pandemic
Ontario property tax & COVID-19: Provincial and municipal responses
Mar 27, 2020
COVID-19 response postpones 2021 reassessment, delays appeals & extends deadlines
Alberta property tax & COVID-19: Provincial and municipal responses
Mar 31, 2020
Alberta property tax updates during COVID-19, including: appeal proceeding delays, tax abatement, tax deferrals and the AFRI process
Atlantic Canada property tax & COVID-19: Provincial and municipal responses
Apr 3, 2020
Updates on property tax abatement and deferrals during COVID-19 for Atlantic Canada
Manitoba & COVID-19: Impacts on CRE valuation and property tax assessments
Apr 6, 2020
Property tax and value updates for Manitoba during the COVID-19 response
Québec & COVID-19: Impacts on property tax
Apr 7, 2020
A look at the coronavirus impact on municipal and provincial property tax assessments, payments and assessment rolls in Québec
Alberta & COVID-19: Property Tax updates
May 22, 2020
Provincial and municipal property tax updates including deferrals and rates in Alberta's major markets.
Ontario property tax & COVID-19: 5 property tax actions to take right now
Apr 16, 2020
5 property tax actions you can take right now to address COVID-19 losses - advice from our tax experts at Altus Group
Executive Summary | Virtual property tax power breakfast
Apr 20, 2020
An executive summary of the virtual property tax power breakfast presented by Shawna Burke-Martin and Steven Eady.
British Columbia: Update on school tax rates and property tax deadlines
Apr 20, 2020
During the COVID-19 pandemic, Altus Group continues to monitor the response of Provincial and Municipal Governments across Canada to keep the industry informed of additional deferral programs and any developing rebate or abatement programs which could assist Landlords in supporting their tenant’s sustained operations in this challenging environment.
Guide | Property tax updates for the COVID-19 pandemic
Jul 1, 2020
Provincial and municipal property tax relief programs including deferrals, rebates/abatement programs for commercial real estate owners, landlords, and tenants during COVID-19.
Executive Summary | Property tax power breakfast refill edition
May 20, 2020
An executive summary of the virtual property tax power breakfast presented by Shawna Burke-Martin and Steven Eady on May 14, 2020.
Executive Summary | Alberta Hotel and Lodging Association webinar
Jun 2, 2020
As a hotel owner or manager in Alberta, what do you need to know about managing your property taxes while you face oil prices and the pandemic?
Executive Summary | British Columbia Hotel Association webinar
Jul 6, 2020
As a hotel owner or manager in British Columbia, what do you need to know about managing your property taxes while facing the pandemic?
Manitoba assessment cycle extended for one additional year
Jul 10, 2020
Taxpayers now wait another year before the effects of the pandemic are reflected in assessed values.
What you need to know about Calgary’s 2021 Pre-Roll Consultation Period
Jul 20, 2020
The City of Calgary’s 2021 Pre-Roll Consultation Period will commence on October 1, 2020 and end on November 6, 2020.
Alberta oil & gas producers now able to link wellsite equipment to well production
Aug 6, 2020
With the transition to centralized assessment of oil and gas properties in the province, ratepayers are being invited to link their wellsite equipment packages to the associated Alberta Energy Regulator ("AER") well license.
Property tax timelines in trying times – an Atlantic perspective
Aug 24, 2020
The point of time is an important distinction as the ‘base date of assessment’, or the date in which a value is derived in any given assessment year.
Tax case on Disney resort may have significant implications for future hotel assessments in Florida
Aug 27, 2020
Rushmore approach criticized by District Court of Appeals has impact for similar cases moving forward.
IMPORTANT Québec property tax update: proposed Bill 67 by the Quebec government on September 30, 2020
Oct 2, 2020
Edmonton’s 2021 Pre-Roll Consultation: what you need to know
Oct 14, 2020
The City of Edmonton's 2021 Pre-Roll Consultation Period will commence on November 23, 2020 and end on December 16, 2020.
A Summary of the October 19, 2020 Alberta Rate Review Announcement
Oct 21, 2020
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