Newly Built Home Property Assessments
When your home is built, the permit process may prompt an MPAC property inspector to visit and confirm the details. After you move in, you'll receive a Property Assessment Change Notice.
Factors that affect your newly built home's assessed property value
To assess your newly built home, we analyze property sales in your area. Based on the sales information, there are five key factors that generally account for your home’s value. They are:
- lot size
- living area
- age of the property
- quality of construction
We also look at land title documents and building permits, and often conduct on-site property inspections to ensure we have the most up-to-date and accurate information about your property.
Learn more about your property's assessment
You can find more information about the factors used to assess your own property and similar properties on AboutMyProperty.