2023 Roll Return Fact Sheet

December 14, 2023

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 2023, MPAC added more than $42 billion in new assessment from new construction and improvements to existing properties.
In November, MPAC mailed more than 713,000 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 12.
Property assessments for the 2024 property tax year will continue to be based on January 1, 2016 assessed values.

New Assessment

In 2023, MPAC captured more than $42 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.