What is MPAC?
The Municipal Property Assessment Corporation (MPAC) is an independent, not-for-profit corporation that assess and classify all properties in Ontario according to the Assessment Act and regulations established by the Ontario Government.
MPAC provided an overview of their services to Council on February 9, 2016.The presentation provides an overview of property assessment and is a great starting point to learn more.
How does this affect my taxes?
Property assessment is a key component of municipal tax systems.
All Ontario properties are reassessed by MPAC based on market value every four years. Notice of the reassessed property values are mailed to the home owner. These values are also provided to each municipality.
The reassessed values will be applied to your home for the following four years after assessment.
Note: Property assessment values may increase or decrease for a variety of reasons including changes in economic conditions, structural alterations and re-zonings.
Details concerning the assessment process and information on the assessed value of your home and neighbouring properties can be accessed at the MPAC website.
Assessment For Newly Built Homes
Assessment on a newly built home does not happen immediately. Once you take occupancy and the land is transferred from the builder to the new home owner it can take up to 36 months for MPAC to assess the property and provide the information to the Town. Once the Town receives the assessment information a supplementary tax bill will be issued. It is important to understand this process to ensure you are prepared when the bill is issued. To learn more visit MPAC's website.
About My Property
MPAC offers an online service About My Property where you can learn how and why your property was assessed the way it was. You can also compare your property assessment with others in your neighbourhood.
Contact the Town at 905-478-4282 or MPAC directly at 1 866 296-MPAC (6722), 1 877 889-MPAC (6722) TTY.