Q: What value do I put in the Assessment field of the Residential Property Information Form?
A: When you enter information in the Assessment section of the Residential Property Information Form, please ensure you use the Assessed Value appearing on the GeoWarehouse Overview – NOT the amount on the Property Inquiry report from the City of Hamilton, or any phased-in value.
Assessed value is determined every four years, and the increase is phased in over the following four-year period. Assessed value is what the City determines the property to actually be worth (usually less than what it sells for), while the phased-in value is what is used to determine property taxes for that year. It is done this way so that homeowners don’t get a big spike in property tax every four years.