Four-Year Cycle & Phase-in Program
In the fall of 2012, MPAC mailed a Property Assessment Notice to every property owner in Ontario. The 2012 Notices provided the classification and updated assessed value for property in Ontario based on a legislated valuation date of January 1, 2012.
The last province-wide Assessment Update took place in 2008. In each non-assessment update year, we prepare approximately one million Property Assessment Notices for owners of new properties or properties where a change has taken place.
To provide an additional level of property tax stability and predictability, market increases in assessed value between the January 1, 2008 and January 1, 2012 legislated valuation dates will be phased in over four years (2013-2016). The phased-in values for your property are indicated on your Property Assessment Notice. The phase-in program does not apply to decreases in assessed value, which are applied immediately.
To learn more about the 2012 Assessment Update, click here.
Assessment Update Year
January 1, 2008
2009, 2010, 2011, 2012
January 1, 2012
2013, 2014, 2015, 2016
Assessment Phase-In Example