Theoretically, the property tax revenue is maintained the same, but I believe as a matter of fact, it is not 100% true.
If you understand how slow the government adapt to change, and how many process they need to go through before any change is realized, the mill rate does not reflect immediate change to the property assessment.
So if your property tax go down by 10%, it simply cannot be realzied in the same year's tax system.
Also, if you think about it, if the MPAC have a high assessment value for all the properties, and hence the mill rate go down next year, who benefit most?
It is the politicians. They can tell people how much the property tax goes down and how they are doing a good job. Also, they have more room to increase the property tax because the mill rate is low. It is a scheme.
Interested, I checked the MPAC site, for residential properties, you will have to file the reconsideration form with MPAC before you can go to assessment review board. However, MPAC usually do not give you much consideration if you do not challenge the assessment review board. In other words, if you want them to take you seriously, you will have to go to the assessment review board.
If a property, or a portion of it, is classified as residential, farm or managed forest, the property owner must first complete the Request for Reconsideration (RfR) process before becoming eligible to file an appeal with the Assessment Review Board (ARB).
http://www.mpac.ca/pages_english/pr...he_assessment_review_board_appeal_process.asp
For commercial properties, you can skip the MPAC and go directly to ARB. They started this requirement a few years ago. I think it is bacause too many people know the fact that MPAC will ignore you so they go directly to the ARB.
Interested, one question for you. Do you have much success with the ARB with the one who you hired to deal with the commercial property?
Here is a provincial auditor's report summary from Canadian justice review board.
OTTAWA — December 11, 2010- This week's provincial auditor's report into the Municipal Property Assessment Corporation's management is 18 pages long but it can be summarized in three words: They are incompetent.
http://www.canadianjusticereviewboard.ca/ARCHIVES.htm