Municipal Property Assessment Corporation (MPAC) has been preparing the 2016 assessment update since early in 2014 — two years earlier than previous assessment updates.
The 2016 Assessment Update introduces some of the most significant reforms to Ontario’s property assessment system since 1998. These changes share a common goal – increased transparency, shared understanding of property assessments, and stability and predictability in the municipal tax base.
MPAC updated the assessed value of every property in Ontario (5 million properties) based on a legislated valuation date of January 1, 2016. These values will be used by municipalities as the basis for calculating property taxes for the 2017-2020 property tax years.
MPAC issued Property Assessment Notices (PAN) by mail from April to August reflecting their property’s assessed value and classification.
In preparation for the 2016 Assessment Update, staff conducted more than 2.9 million data checks to ensure the quality and accuracy of data. Reviews included:
- Building permits
- Sales reviews
- Site variable update project
- Farm forestry exemptions reviews
- Requests for Reconsideration
- Severances and consolidations
- Data integrity checks
- MPAC initiated reviews
- Process controls
- Tax and vacancy applications
- Municipal requests
- Appeals
- Property owner enquiries
MPAC completed more sales investigations and data quality checks in preparation for this year’s assessment update than past reassessments.
MPAC staff investigated more than 200,000 sales since 2012, which is more than double the sales reviewed for the 2012 Assessment Update.
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