Billboards or third party signs may be freestanding, mounted to buildings or attached to other structures. They include at least one display panel and supporting framework, conform to engineering standards and are commonly constructed of steel or wood. They advertise goods and services not available at the property on which the sign is located. 

Valuation and Classification

In 2014, the Minister of Finance amended Ontario Regulation 282/98 to prescribe how MPAC is to assess third party signs for the 2014 taxation year forward:

  • Rent/income related to the sign or its placement on the land is to be disregarded
  • Signs with a total display area under 25 square feet are to be disregarded
  • The value of third party signs is to be determined on the basis of its replacement cost, with a deduction of 50% to be made to account for all forms of depreciation
  • Third party signs are to be included in the commercial property class
  • The valuation and classification of the land and any other buildings or structures on the land are not affected by the presence of the third party sign

Where third party signs were assessed in another manner for the 2014 to 2016 taxation, MPAC has mailed Special Amended Notices to ensure the prescribed approach is reflected. These notices were mailed to owners in October and November 2016.

Note: The applicable law prevails to the extent there is any conflict between this information and the current law. This information is not intended to provide legal advice and should not be relied upon as such.