Level 2 – Market Valuation Reports (MVR)
Large and Special Purpose Properties
MVRs explain how the relevant methodology was applied to a group of properties. They present relevant market data in relation to the legislated valuation date and show how key components were derived for that property type. Any factors associated with the methodology applied by an assessor (i.e., cost rates and economic indicators) are included in these Reports.
Consultations for MVRs began in fall 2015 with participation from large and special purpose property owners, representatives and municipalities.
In January 2016, a special session on Replacement Cost New was held based on industry feedback. This session highlighted the steps taken to derive the 2016 replacement cost new per square foot rates.
As a result of industry feedback and in accordance with the direction issued by the Minister of Finance on April 18, 2015 (subsection 10(1) of the Assessment Act), we have published a MVR for each of the following sectors: