The following is being distributed 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 175,000 property assessment notices for the 2004 annual assessment. This is a reassessment year and most property owners will see some change in their assessed values from last year. The assessments are, as required by the Assessment Act, based on market value as of January 2002.

Information is provided on the back of each assessment notice 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 Web site www.maa.nf.ca. The Web site 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 31- November 21).

The Municipal Assessment Agency provides real property assessment services to 233 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 2004 tax year, assessment notices were mailed on October 31, 2003 and the deadline for filing an appeal is November 21, 2003.

Media contact: Sean Martin, Executive Director, (709) 724-1532, (709) 685-3981

2003 11 03                                        9:05 a.m.