The Property Income and Expense Return is an online tool, available through aboutmyproperty.ca, where owners of income producing properties can submit their property rental, income and expense information directly to MPAC.
Introduced in advance of the 2016 Assessment Update, this new online submission process replaces MPAC’s paper-based Tenant Information Program, providing property owners a more convenient, efficient and accurate way to submit their data.
The following property types can submit their income and expense information through the Property Income and Expense Return Portal:
- Mixed use
- Golf Courses
- Gravel Pit and Quarry
- Mobile Homes and Land Lease Properties
- Retirement Homes
No. There are no changes to the information submission process for the following property types in 2018:
- Large Resort
- Long-term Care Facility
- Special Purpose Business Properties
- Speciality Properties
At this time, the PIER portal is not configured to receive submissions from mixed use retirement/long-term care facilities. These property types will continue to submit hard copy returns.
These property types will receive an information request letter from MPAC in spring 2018.
Through independent research and ongoing work with industry associations, MPAC understands property owners want a more efficient and streamlined data submission process. A 2014 survey indicated 75 percent of commercial, industrial and multi-residential property owners would likely use a web-based tool for data submission.
Property owners play a key role in helping MPAC deliver accurate values by providing complete and accurate data. Edit checks and field validations are built into the tool to reduce discrepancies and errors. This will improve the accuracy of commercial, industrial, multi-residential and hospitality property assessments.
The online submission process will make it faster and easier for property owners to submit information, while ensuring MPAC captures the key data required to deliver accurate and consistent property assessments.
Complete and accurate information will also enable MPAC to provide more comprehensive Property Details Reports to property owners. This supports MPAC’s commitment to transparency and sharing information with property owners to enable them to better understand their property assessment.
Other benefits include:
- A more efficient and accurate method than the old paper-based process
- Access to pre-populated forms that will save property owners time and money
- More timely, focused review of information submitted
- A secure online data exchange environment
MPAC is required to exclude any income attributable to third party signs (billboards) located on your property from your assessment. Reporting this information separately ensures that rental income from third party signs (billboards) isn’t included in your total income.
Third party signs (billboards) are assessed using the cost approach (replacement cost new, less depreciation) to determine the contribution made by a billboard to the current value of the property on which it is located. No value is added for any income attributable to the third party sign (billboard) or its placement on the property.
|Mail Out Date||Submission Deadline|
|Hospitality - Golf Courses||
April 5, 2018
May 31, 2018
Yes, your agent may submit information on your behalf through AboutMyProperty™ provided that you expressly authorize them to do so and you receive your agent's prior written agreement to comply with the AboutMyProperty™ Terms and Conditions of Use. Since MPAC does not issue login credentials to agents, they will have to use the login credentials that you received from MPAC.
IMPORTANT: Please be aware that providing your login credentials to your agent allows them access to all information about your property, your lease/tenancy details and all AboutMyProperty™ functions. This includes but is not limited to various financial, property and other reports, filing a Request for Reconsideration, and updating information for your property. MPAC strongly suggests that you change your AboutMyProperty™ password immediately after your agent has submitted your Property Income and Expense Return.
For more information, contact MPAC.
Yes. You can print a draft copy of your submission for review before it has been submitted online.
To print a record of your final submission, go to the My Returns page and click on the printer image in the Status column.
If applicable, you can continue to submit your information through a recognized software provider. Please contact your service provider for information on associated service fees and data transfer instructions.
With the transition to our new online system, MPAC will no longer mail forms with our information requests to owners of commercial, industrial, multi-residential and hospitality properties. If you need assistance submitting your information, please contact us.
In order to provide an accurate assessment for your commercial, industrial, multi-residential or hospitality property, MPAC is required to analyze the income and cost trends for your property over a four-year period. We ask for your assistance in collecting this information each year, since the costs and income for a property can change from year to year.
When in the Property Income and Expense Return system, on the Resources tab you can access a User Guide, as well as Terms and Definitions for the data being requested. If further assistance is required, please contact us.