Fact Sheet: Pits and Quarries

What you need to know: The basics

  • The Municipal Property Assessment Corporation (MPAC) values more than 3,200 pit and quarry properties in Ontario.
  • A pit or quarry is where aggregate (i.e., sand, stone and gravel) is extracted.

How we assess pit and quarry properties

  • Pit and quarry properties are assessed using the cost approach.
  • In this approach, value is determined by two key components: the replacement cost new less depreciation for any structures and the land value.
  • If you'd like to learn more about how we assess pit and quarry properties, our Methodology Guide for Pit and Quarry Properties provides greater detail.

Pit and Quarry assessments for the 2024 property tax year

  • MPAC has updated the assessments of all pit and quarry properties in Ontario to reflect the methodology established in the Assessment Review Board’s (ARB) Wellington County appeal decision.
  • Property owners will receive a Property Assessment Notice in November updating their property's assessed value and/or classification for the 2024 property tax year. The Notices continue to reflect the value of the property as of January 1, 2016. 
  • The updated assessments move several areas of the pits and quarries from the Residential Tax Class to the Industrial Tax Class and update values to reflect the methodology and approach outlined in the ARB’s decision.
  • We have been working with stakeholders throughout the appeal process and continue to engage with affected property owners, municipalities and other stakeholders to ensure they are aware of the changes.  

About MPAC

The Municipal Property Assessment Corporation (MPAC) is an independent, not-for-profit corporation funded by all Ontario municipalities, and is accountable to the Province, municipalities and property owners. Our role is to value 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 more than five million properties in Ontario, representing $3 trillion in property value.
  • Our assessments provide the foundation that municipalities use to calculate the property taxes needed to pay for community services.
  • Our assessors are trained experts in the field of valuation and apply appraisal industry standards and best practices.
  • Our assessments and data have met international standards of accuracy and are relied upon by banks, insurance companies and the real estate industry.