The following is being released at the request of the Municipal Assessment Agency:

Assessment Notices Mailed

The Board of Directors of the Municipal Assessment Agency is pleased to announce the Agency has mailed some 170,000 property assessment notices for the 2003 annual assessment. In prior years each of the 231 municipalities served by the Agency individually mailed the notices.

"The Agency has undertaken this project as a pilot. The Board believes there is an opportunity to use economies of scale and technology to reduce the cost and effort required to deliver the assessment notices," said Board Chairman Walwin Blackmore. "It is hoped that municipalities will see a cost saving."

This is not a reassessment year and most property owners will not see any change in their assessed values from last year. The assessments are, as required by the Assessment Act, based on market value as of January 1999.

An insert is provided with each mailing directing property owners to contact the Agency with any questions on their assessed values. Property or business owners are encouraged to contact the Agency toll-free at 1-877-777-2807 or to visit the Agency�s website, www.maa.nf.ca. For the first time, the website contains a searchable database of assessed values for the province (excluding the City of St. John�s) to assist property owners in comparing assessed values. This service will be available without charge throughout the appeal period (October 11- November 1).

The Municipal Assessment Agency provides real property assessment services to 231 municipalities across the province. Property assessments are prepared annually and are the basis for the property and business taxes levied by municipalities. An assessment notice is delivered to each property owner and business operator subject to a municipal property-based levy. For the 2003 tax year, assessment notices were mailed on October 11, 2002, and the deadline for filing an appeal is November 1, 2002.

Media contact: Sean Martin, Executive Director

Municipal Assessment Agency (709) 724-1532 or (709) 685-3981.

2002 10 15                                     12:15 p.m.