Bancroft MFTIP workshop a success!
Wednesday, August 9th 2006 10:01:32am
(Bancroft, ON, August 9) – Tuesday night, local residents gathered at the Bancroft Legion to learn how to reduce the property taxes on their forested land by up to 75 per cent through Ontario’s Managed Forest Tax Incentive Program (MFTIP).
The Ontario Forestry Association, with the support of the Trees Ontario Foundation, hosted the workshop at the Royal Canadian Legion in Bancroft. This is the first in a series of workshops that will criss-cross the province from now until mid November.
The MFTIP is a voluntary program which provides significant property tax reductions for landowners who satisfy certain basic criteria such as having over 10 acres of forested land and a willingness to prepare and follow a forest management plan. Upon acceptance into the program, the forested portion of the property is re-assessed as managed forest and taxed at one-quarter of the residential tax rate in the following year.
Recent amendments by the McGuinty government in how privately held forested land is assessed has created renewed interest in the Managed Forest Tax Incentive Program. These enhanced changes work toward fulfilling the MFTIP program’s goal of bringing greater fairness to the property tax system by valuing forestland according to its current use, while increasing landowner awareness about forest stewardship.
The evening’s workshop outlined how landowners can apply for MFTIP, set objectives for their property, prepare a forest stewardship plan and identify local resources to assist them in achieving their management goals. Those who attended came away with the knowledge and tools to properly manage their forest whether for recreation, wildlife habitat or forest products. In the end, these landowners will benefit from a reduced property tax rate, while playing a significant role in the stewardship of Ontario's private forests.
Rob Keen, Program Manager for Trees Ontario and one of the professional foresters assisting with the workshop, said the strong turnout was a great way to start.
“We are enthused about the turnout. It shows that Ontario’s landowners are interested in the Managed Forest Tax Incentive Program,” says Keen. “I hope this is indicative of what’s to come.”
Keen emphasized that these workshops are an important opportunity for landowners to not only save money, but to learn how to protect and ensure the long term health of their forests.
“Not only does the MFTIP program represent a simple way to reduce your annual property tax payments, it also ensures the proper stewardship of Ontario’s forests.”
For those who missed the workshop, information about other dates and locations and about the MFTIP program is available at www.oforest.on.ca or by calling the Ontario Forestry Association at 1-800-387-0790.
For more information contact:
e|c|o media relations
Program Manager, Trees Ontario Foundation
416.493.4565 or toll free, 1.800.387.0790 or email firstname.lastname@example.org
The Ontario Forestry Association is a non-profit, registered charity dedicated to raising awareness and
understanding of Ontario’s forests, and to developing stewardship of forest ecosystems. Visit www.oforest.on.ca
The Trees Ontario Foundation (TOF) is a non-profit foundation established in 1994 as an independent arm of the Ontario Forestry Association. TOF was formed with a mandate to promote and support tree planting initiatives in Ontario (www.treesontario.on.ca).