Pit and Quarry Property Assessments

Reading your Pit and Quarry Property Assessment Notice

As a property owner in Ontario, you'll receive a Property Assessment Notice for your property as part of a province-wide assessment update or when there has been a change to the value or classification of your property. 

The Assessment Review Board (ARB) made a decision impacting the assessment of pit and quarry properties across the province. As a result of this decision, MPAC updated the classification and value of all pit and quarry properties and mailed a Property Assessment Notice to every property owner. 

On September 25, 2024, the Ministry of Finance amended Ontario Regulation 282/92, establishing a new Aggregate Extraction property class. Property owners will receive a Property Assessment Notice from MPAC in November 2024 reflecting this new property class. 

Property Assessment Notices mailed in November of each year continue to reflect the value of the property as of January 1, 2016. The assessments will be used by municipalities for the following year. Learn how to read your Property Assessment Notice.

How your pit and quarry property is assessed

Pit and quarry properties are assessed using the cost approach. This approach separately values improvements and land to produce a current value for the property.

More details on how your property is assessed

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.