Industrial Fact Sheet

November 09, 2020

What you need to know: the basics

  • The Municipal Property Assessment Corporation (MPAC) values over 79,500 industrial properties in Ontario.
  • When we classify a property as industrial, it typically means the property is currently being used to manufacture, store, produce or process something. As a result, the property taxes will be based on an industrial tax rate that is determined by the municipality. 

General-purpose industrial properties in Ontario have the following characteristics:

  • uses may include warehousing, light manufacturing or other general industrial uses
  • multi-purpose buildings that typically include office space
  • special purpose features are limited
  • can usually be converted to another use without extensive alterations.

How we assess industrial properties

  • We use the cost approach to value most general-purpose industrial properties.This approach determines the assessed value by estimating the replacement cost of the buildings and structures, adjusting that cost for any depreciation and then adding the value of the land. 
  • Learn more about our approaches to value.

About MPAC

The Municipal Property Assessment Corporation (MPAC) is an independent, not-for-profit corporation funded by all Ontario municipalities, and is accountable to the Province, municipalities and property owners. Our role is to value and classify all properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario.

  • We are the largest assessment jurisdiction in North America, assessing more than five million properties in Ontario, representing $3 trillion in property value.
  • Our assessments provide the foundation that municipalities use to calculate the property taxes needed to pay for community services.
  • Our assessors are trained experts in the field of valuation and apply appraisal industry standards and best practices.
  • Our assessments and data have met international standards of accuracy and are relied upon by banks, insurance companies and the real estate industry.

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