Industrial Property Assessments
Reading your industrial Property Assessment Notice
As a property owner in Ontario, you'll receive a Property Assessment Notice for your property every four years unless there is a change to your property. Learn how to read your Property Assessment Notice.
How your industrial property is assessed
General-purpose industrial properties have the following characteristics:
- They may be used for warehousing, light manufacturing or other general industrial purposes.
- They may be multi-purpose buildings that include office space.
- Their special-purpose features are limited which often allows them to be converted to another use without extensive alterations.
We use what's called the "cost approach" to assess the value of most general-purpose industrial properties.
We do this by:
- Estimating the replacement cost of your buildings and structures
- Adjusting that cost for any depreciation in the actual property being valued (which includes physical deterioration and obsolescence)
- Adding the value of your land.
More details on how your industrial property is assessed
If you'd like to learn more about how we assess industrial properties, our Methodology Guide for Industrial Properties provides greater detail.
Filing your Property Income and Expense Return
By filing your Property Income and Expense Return, you help us ensure that your property values are based on up-to-date and accurate information.