MPAC mails a Property Assessment Notice to property owners in Ontario every four years. The Notice you received in 2016 is MPAC’s assessed value of your property as of January 1, 2016.
What if I make changes to my property during the four year cycle?
We continue to update property information during non-Assessment Update years. New homes are built, owners renovate, structures are removed or demolished and properties change use. We are legislatively responsible for updating this information, even when a province-wide Assessment Update is not taking place. Notices are mailed each fall to reflect these types of changes.
MPAC’s 2016 assessed value of your property is also included on your Notice. Your 2016 value, as shown on your amended Notice, may not necessarily be the same value that appeared on your 2016 Notice, if your property underwent a change that affected its value.
How does my municipality use MPAC’s property assessment?
The assessed value and classification of your property is used as the basis for calculating your property taxes. To help provide an additional level of property tax stability and predictability, the Ontario Government has introduced a phase-in program for market increases and decreases. An increase in assessed value is introduced gradually, while a decrease in assessed value is introduced immediately.
Log on to aboutmyproperty.ca to learn more about how your property was assessed, see the information we have on file and compare it to others in your neighbourhood.
If you need additional assistance, contact us and one of our customer service representatives will be happy to help.