CORNWALL, Ontario – The City of Cornwall has dished out $2.1 million in property tax refunds for 2017 and there are currently open appeals on approximately 100 properties for that fiscal year.
“Some of the properties that received refunds as part of the $2.1 million include Cornwall Square, Canadian Tire, Home Depot, Olymel L.P. and Canadian Property Holdings,” said Paul Scrimshaw, Accounting Manager and Deputy Treasurer for the City of Cornwall.
The amount refunded during 2017 does not account for the price tag associated with the properties involved in the Municipal Property Assessment Corporation (MPAC) lawsuit. The City of Cornwall announced on Aug. 1 that it is suing MPAC for damages suffered relating to inaccurate assessments.
The City counters that MPAC inaccurately assessed three large distribution centres, including warehouses used by Shoppers Drug Mart and Walmart. Consequently, the City refunded $392,543 to Shoppers through a settlement and will pay a substantial refund to Walmart.
The City was unable to comment on the projected refund amount for those properties as the process is ongoing and not yet settled.
According to Scrimshaw, the City established a reserve in 2009 to offset the cost of refunds.
The current balance of the reserve is approximately $1.8 million, and at the end of 2017 the reserve sat at $1.3 million. In 2016, $400,000 was contributed to the reserve and $500,000 was contributed in 2017 and 2018.
“The City refunded approximately $2.3 million (in property taxes) in 2016,” said Scrimshaw.
