Thursday, July 7, 2011

Hints & Tips: Change of Info for Property Taxes

If you've recently bought a condo - be it for residential or investment purposes - you'll want to ensure that your contact information is up-to-date with the municipal government so that your property tax bills are sent to the right place.

Check with your lawyer to see whether this was already done on closing.  If not, you can request the update yourself, as outlined on the City of Toronto's website.

Keep in mind too, that you'd also need to update the City in the event that your contact info changes during the time you own the property.

Remember, it's your responsibility to notify the city of any change to your ownership information, just as it is to pay your property taxes!  It's a quick and simple process that will save you from a bigger headache down the road.