2024 Revised new assessment capture delivered to municipalities
As part of our January new assessment reporting to municipalities, we recently delivered three customized reports in support of annual new assessment forecasting: the New Assessment Report, the Supplementary and Omitted Assessment Report and the Revised Preliminary New Assessment Forecast.
The Revised Preliminary New Assessment Forecast for 2024 identifies $38.8 billion in anticipated growth – up by more than $3 billion over the Preliminary New Assessment Forecast delivered in October. This increase is based on expected new construction, additions, and renovations. It was determined through the analysis of building permits for residential, condo, commercial and industrial projects.
We recognize the important role that revenue from new assessment plays in helping municipalities expertly manage their annual planning and budgeting activities.
Each municipality can access the customized reports along with other assessment data and insights via MyProducts on Municipal Connect.
Your Municipal and Stakeholder Relations Account Manager is here to provide additional help when navigating the platform. Reach out any time with questions.
Our next quarterly forecast will be delivered at the end of April. To learn more about how MPAC assesses properties, see our Property Assessment and Taxation Toolkit on our Municipal Sector Resource Page on mpac.ca.
