PennypinchMany people who work with condominiums raised an eyebrow after reading a recent Toronto Star story entitled “Maintenance fees take a toll on Toronto condo owners.”

The piece highlights the divergent philosophies about the interplay between common expenses and market values and the growing trend towards gathering, tracking and comparing common expenses data from building to building. Most notably, it cites the example of a local condominium that reduced its common expenses by 30% (probably by slashing contributions to the reserve fund) and is now witnessing a boom in unit resale values compared to nearby condos.

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Here’s a special update on a ruling that should be carefully considered by condo corporations that own any common amenities in the form of units. Those condos should get legal advice about filing a Request for Reconsideration with MPAC by the deadline of March 31, 2001.
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Residential property owners thinking about appealing their 2009 property tax assessment must file a Request for Reconsideration ("RfR") by March 31.  

Don’t wait until the last minute to take steps — Property owners will need to read up on the changes in force this year and may need to get assistance.

For a handy summary