2022 Roll Return Fact Sheet
Key Facts
- MPAC delivers an assessment roll annually to municipalities and the Province of Ontario to support the calculation of property and education taxes. These assessed values are used by municipalities to distribute taxes, not determine them.
- The assessed value of all properties in Ontario is more than $3 trillion.
- In 2022, MPAC added more than $37.8 billion in new assessment from new construction and improvements to existing properties.
- MPAC assessed more than 48,000 new residential homes with an assessed value of close to $24.7 billion.
- In November, MPAC mailed more than 770,000 Property Assessment Notices to property owners across Ontario, reflecting changes in assessment in support of year-end activities, including the return of the assessment roll on December 13.
- Property assessments for the 2023 property tax year will continue to be based on the fully phased-in January 1, 2016 assessed values.
New Assessment
In 2022, MPAC captured $37.8 billion in new assessment. New assessment refers to new construction and/or additions to existing property that have been recently completed and assessed during the year.
New Assessment by Property Type
New Residential Homes
In 2022, Ontario saw more than 48,000 new residential homes constructed. Here’s the breakdown by type.
New Residential Comparison
More than 44% of the new residential units built were in the top 10 municipalities with the most residential units built. Here’s the breakdown by type of residential unit.
Municipalities with the Highest Growth
Top 10 Municipalities for New Assessment
Municipalities for New Assessment in Residential Condominiums
Municipalities for New Assessment in Seasonal Properties
Municipalities for New Assessment in Farms
Municipalities for New Assessment (Population under 15,000)
