PICKERING, Ontario, December 12, 2017 — Today, the Municipal Property Assessment Corporation (MPAC) will deliver an Assessment Roll to municipalities across Ontario.
MPAC provides an assessment roll to municipalities and the Province of Ontario annually to support the calculation of property and education taxes. The Assessment Roll delivered today will be in place for the 2018 property tax year and includes the current value assessments for more than five million properties in Ontario - worth an estimated value of $2.4 trillion.
"In 2017, MPAC delivered more than $37 billion in taxable assessment growth to municipalities - a $7 billion increase compared to 2016. This represents the largest assessment growth we've ever seen, which can be attributed to property development in Ontario's residential and business sectors," says Rose McLean, MPAC’s President and Chief Administrative Officer.
Every four years MPAC is legislatively responsible for conducting a province-wide assessment update in Ontario. The last provincial assessment update took place in 2016.
While 2017 is not a province-wide Assessment Update year, MPAC is legislatively responsible for updating property information throughout the four-year cycle to return an accurate Assessment Roll each year. In November, we mailed nearly 900,000 Notices to property owners reflecting changes in assessment that have taken place over the last year.
To learn more about how your property is assessed and to see the information we have on file, please visit aboutmyproperty.ca.