MPAC mails nearly 877,000 Property Assessment Notices across Ontario

PICKERING, ON, Nov. 15, 2021 /CNW/ - The Municipal Property Assessment Corporation (MPAC) has begun mailing nearly 877,000 Property Assessment Notices to property owners across Ontario. If you recently moved or made changes to your property, your notice is on its way.

"We continue to work every day to ensure our records reflect the current state of all properties in Ontario," says Nicole McNeill, MPAC's President and Chief Administrative Officer. "Our work never stops to ensure we can provide municipalities with an up-to-date and accurate assessment roll each year."

For property owners receiving a notice, the reason for the updated assessment will be printed on the notice and will refer them to mpac.ca/notice for more information.

These changes can include:

• a new property
• an update to ownership
• change in assessed value
• change to the tax classification

Due to the COVID-19 pandemic, the Ontario government has postponed MPAC's province-wide Assessment Update, which means Property Assessment Notices going out this year will reflect a January 1, 2016 valuation date. These assessments will be used by municipalities for the 2022 and 2023 tax years.

Property assessments are the foundation on which municipalities base the property taxes that pay for services we use every day. Property taxes are calculated using the assessed value of a property and multiplying it by the combined municipal and education tax rates for the property class.

"The assessed value ensures a level playing field, with all municipalities working from the same baseline," explains Carmelo Lipsi, Vice-President and Chief Operating Officer. "This is different from market value ? the selling price for a property today, which is impacted by ongoing marketplace fluctuations. Assessed value, determined on a fixed date, provides a stable input specifically for municipal budget decisions."

MPAC provides all Ontario property owners with access to AboutMyProperty, an easy-to-use tool for comparing their property to others in their neighbourhood, and reviewing the information and criteria MPAC used to assess their home. If a property owner disagrees with a property's assessment, they can file a Request for Reconsideration (RfR) with MPAC online through AboutMyProperty, free of charge.

The deadline to file an RfR for the 2022 property tax year is March 31, 2022.

More information on the 2021 Property Assessment Notices is available at mpac.ca. 

Quick Facts

• In 2016, every property owner in Ontario received a Property Assessment Notice as the result of a province-wide Assessment Update, reflecting a January 1, 2016 valuation date. 
• The Ontario government postponed the province-wide Assessment Update due to the pandemic.
• Property assessments for the 2022 and 2023 property tax years will continue to be based on the fully phased-in January 1, 2016 assessed values. 
• 876,818 properties will receive a Property Assessment Notice
• Primary reason for receiving a Property Assessment Notice
• Update to ownership - 57.88%
• Update to assessed value, classification and/or tax liability - 18.31%
• Update to mailing address - 11.15%
• New property or updated roll number (property severance/consolidation) - 9.21%
• Update to legal description/property location - 2.57%
• Other ? 0.88%

About MPAC

MPAC is an independent, not-for-profit corporation funded by all Ontario municipalities, accountable to the Province, municipalities and property taxpayers through a 13-member Board of Directors.

Our role is to accurately assess and classify all properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario. We are the largest assessment jurisdiction in North America, assessing and classifying more than five million properties with an estimated total value of $3 trillion.

For additional information, visit www.mpac.ca.

SOURCE Municipal Property Assessment Corporation