Property Severances and Mergers of Title: Assessment Roll Adjustments
Background
MPAC assesses land at its current value, based on a legislated valuation date established by the Ontario Assessment Act. “Current value” means that MPAC assesses the value of a property based on the amount of money the land would sell for, if sold at arm’s length by a willing seller to a willing buyer.
MPAC assigns a separate assessment roll number for each property.