Residential Properties

Residential properties include those in small and large urban areas, as well as rural and waterfront locations. Together, MPAC values 4.6 million residential properties across Ontario.

In 2016, MPAC updated the assessed values of every property in Ontario. Our assessors are trained experts in the field of valuation and apply appraisal industry standards and best practices.

How your property is assessed

We look at sales and compare your property to similar properties that have sold in your area. This approach is called Current Value Assessment, and is used by most assessment jurisdictions in North America.

While over 200 factors are considered when assessing a property, these five factors account for 85% of your home’s value:

  1. Age of the property, adjusted for any major renovations or additions
  2. Living Area
  3. Location
  4. Lot Dimensions
  5. Quality of Construction

Some other key features may also affect the value.

We look at land title documents as well as building permits and often conduct on-site property inspections to ensure we have the most up-to-date and accurate information on your property.

The relationship between your assessment and your taxes

MPAC provides your property’s assessment information to your municipality/local taxing authority. The assessed value and classification of your property is used as the basis for calculating your property taxes. The new value on the Notice you received in 2016 is used by your municipality/local taxing authority to calculate your taxes for the 2017-2020 property tax years.

Under the phase-in provision in the Assessment Act, an increase in assessed value is introduced gradually over four years. A decrease in assessed value is introduced immediately.

Learn more about the relationship between assessment and taxation:

Learn more about how taxes are calculated video

Classification

In addition to valuing properties, we also classify every property in Ontario. There are seven major property classes: residential, multi-residential, commercial, industrial, pipeline, farm and managed forests.

Some properties may belong to more than one class. For example, if a building has an apartment on the top floor and a retail store on the main floor it would fall into two classes - residential for the apartment and commercial for the store.

Questions about your assessment?

Visit aboutmyproperty.ca to learn more about how your property was assessed, see the information we have on file, as well as compare it to others in your neighbourhood. Look for your Roll Number and Access Key on your Property Assessment Notice to register.

If you still disagree with your property’s assessed value or classification, we will review your assessment free of charge through a Request for Reconsideration (RfR). Your deadline to file an RfR with MPAC is included on your Property Assessment Notice. Learn more about your assessment.

Learn more:

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.