Keep an eye on your mailbox as you’ll be getting a property assessment dropped off in the coming days.
Municipal Property Assessment Corporation (MPAC) is the body that’s “responsible for delivering property values, insights and services to taxpayers, municipalities, governments and businesses” according to their website.
More than 770,000 Property Assessment Notices will be going out to property owners across Ontario. These notices are issued if a property owner recently moved, changed the school board that their taxes support or had made changes to their property.
Property Assessment Notices going out this year continue to reflect the value of the property as of January 1, 2016. These assessments will be used by municipalities for the 2023 tax year.
“Municipalities use MPAC’s assessments to make informed decisions about their community, including the distribution of property taxes,” explains Carmelo Lipsi, Vice-President and Chief Operating Officer. “It’s important that we help property owners understand the relationship between their assessed values and property taxes. This is why we’ve enhanced the content on our website to better explain that relationship.”
More information about a specific property can be found by looking here, AboutMyProperty, this is a tool for comparing one property to others in their neighbourhood.
More about the 2022 Property Assessment Notices can be read here.
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