Retirement Home Assessments

Retirement homes are facilities that are registered with the Retirement Homes Regulatory Authority, that offer varying levels of care, amenities and services at a cost to residents. 

How your retirement home property is assessed

MPAC primarily uses the income approach to value retirement homes, which is based on the present worth of anticipated future income. 

To establish the current value of a retirement home, we:

1. Estimate the annual revenue that can be generated by the home.
2. Deduct the annual expenses that are necessary to support the revenue stream.
3. Apply a capitalization rate (cap rate) to the retirement home's net income.

To learn more, review the methodology guide.

Assessment Information Requests

Each year, MPAC collects financial and operating expense information from income generating properties as part of our Property Income and Expense Return, the largest data collection campaign under our Assessment Information Request Program. This annual initiative is crucial to our efforts to maintain accurate property records, deliver quality assessments, and inform changes to Ontario’s property landscape.

For general information about Assessment information requests, visit mpac.ca/AIR. For more information, including submission resources, deadlines and compliance requirements, visit mpac.ca/PIER.