FAQ

Property Values

​​​​​There don’t appear to be any. CRC has taken issue with the findings of the Township consultant’s economic impact analysis which ignores any downward pressure on house and land prices and the accompanying loss of tax assessment, as well as new costs borne by the municipalities related to infrastructure management, emergency services, and so on.  GET Council recognizes that there is nothing ​tangible in this for the community.  So, the only benefits the quarry will have are to JDCL’s bottom line.

Did you find this FAQ helpful?
0
0

​​It is located at the corner of Highway 7 and 6th Line Eramosa, just east of Rockwood and west of Acton. It is only one kilometre from the southern neighbourhoods of Rockwood as the crow flies, and as little as 165 m from homes and buildings on Eramosa 6th and 7th Lines and those at the north end of Nassagaweya 5th line! Nearly half the population of Rockwood lives within 2 kilometers of the site.

Did you find this FAQ helpful?
0
0

​​​​Yes. Just ask yourself, “Would I knowingly purchase a property adjacent to a quarry rather than a similar one somewhere else?” Only if it were cheap enough. MPAC (Municipal Property Assessment Corportation) reduces property values near quarries and studies have been done that demonstrate that property values drop due to proximity to pits and quarries.  The successful fight against JDCL’s Rockfort Quarry in Caledon included analysis showing projected property value losses up to 20%.  Such properties will appreciate in value along with market trends, but along a trend line that remains below where it would have been without the quarry influence.  ​Aggregate proponents argue to the contrary of course, but again ask yourself whether you would knowingly purchase a property adjacent to a quarry rather than a similar one somewhere else. Only if it is cheap enough.

Did you find this FAQ helpful?
0
0

The recent decision by MPAC to lower assessments for gravel pits and quarries was the result of aggregate company appeals dating back to 2009, and a settlement negotiated by MPAC with the Ontario Stone Sand and Gravel Association (OSSGA), the representative of the aggregate producers in Ontario.  It appears that some Ontario municipalities, including Wellington County Township including Guelph Eramosa and Puslinch Townships, will appeal this decision since the impact on what is already nominal tax revenue is substantial.  If it stays in place, the new tax burden resulting from the change would inevitably be transferred to residents.

Category: Property Values
Did you find this FAQ helpful?
0
0

Load More