Commercial Property Assessments
Reading your commercial Property Assessment Notice
As a property owner in Ontario, you'll receive a Property Assessment Notice for your property every four years. Learn how to read your Property Assessment Notice.
How your commercial property is assessed
If you own a property that meets one or more of the following criteria, we classify it as a commercial property if it:
- Is used for retail, food service, office or other general commercial uses.
- Is a multi-purpose building that typically includes interior finishes, such as finished walls, flooring and lighting.
- Does not have a unique layout or specialized materials that would limit its use or functionality.
- Can usually be converted to another use without extensive alterations.
We use an approach called the cost approach to value many commercial properties.
Factors affecting your commercial property value
Which factors we consider when assessing your commercial property value depends on whether we use the cost approach, the direct comparison approach, or the income approach.
For more information, learn about the factors that impact the assessed value of your commercial property.
More details on how your commercial property is assessed
Filing your Property Income and Expense Return
By filing your Property Income and Expense Return, you help us ensure that your property values are based on up-to-date and accurate information.