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MPAC still waits for direction

By Randy Thoms Jul 18, 2023 | 5:41 AM

There is still no indication when a reassessment of properties in Ontario will take place.

Current values are still based on 2016 numbers.

A reassessment was scheduled in 2020 but postponed because of the pandemic.

Steven DeRocco, of the Municipal Property Assessment Corporation, speaking recently to Dryden City Council, says they have not yet been given a date when they will start their work.

“We have not been given a date yet. I’ve been asking the CEO even, and she assures me that the Ministry of Finance has not given any indication of when, number one, what the valuation date is going to be, number two, when the assessment update will occur, and number three, what data is set, as in what years of sales will be included in the reassessment,” says DeRocco.

MPAC is still preparing itself.

One of the things it to address the misconceptions about assessments and the property tax bill.

“When a provincewide assessment update occurs, the most important factor is not how much the assessed value of a property has changed, but rather how the assessed value has changed relative to the average change in the class in that community.”

DeRocco says in anticipation of the next province-wide assessment, they have implemented a strategy to address misconceptions about the relationship between assessed value and taxation, including resources for municipalities.

“It can help municipalities, including elected officials, mitigate misinformation and provide support and resources to educate and inform property owners.”

MPAC has also produced a video explaining the taxation policy. It is found on their website.



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