Our Tip: Ensure that your demolition permit is closed when the teardown’s done
There’s a pretty good reason why you want to make sure a demolition permit is closed at the end of a teardown of a cottage rebuild project, and it’s monetary.
Once an inspector determines that the demolition work has been completed, and the permit is closed, the municipality’s building department will notify the tax assessment authority (MPAC) that the primary dwelling has been removed and the property will, in turn, be deemed vacant.
As a result, your taxes for the property will be lowered by up to 50 per cent until such time as the final approval and closing of the building permit occurs.
Keep this in mind to reap the considerable tax savings available during your cottage rebuild.
Discover more design-build considerations with our last Better Way to Build Tip.