July 2023

La version française

Q1 New Assessment Forecast Identifies More Than $42 Billion

On April 28, MPAC delivered the 2023 Q1 New Assessment Forecast update as mandated under our Service Level Agreement with municipalities. Each municipality can access a customized report via MyProducts on Municipal Connect to view their local numbers.

The Revised 2023 Preliminary New Assessment Forecast that was shared in January has been revised and now indicates an additional $1.1 billion in available new assessment, bringing our new Q1 total to over $42 billion. Much of this added new assessment can be attributed to an increase in new condo development and additional changes identified within our centralized properties stream.

“As of May 23, we have captured over $17 billion in new assessment value in all category streams, of which 91% have been completed within one year of occupancy,” says Dan Devellis, Director, Valuation and Customer Relations. “We are very proud to be ahead of schedule with our commitment to capture the most up-to-date information and share this with municipalities across Ontario to help inform their in-year revenue planning activities.”

Our next quarterly forecast will be delivered to municipalities at the end of July. To learn more about how MPAC assesses properties, see our Property Assessment and Taxation Toolkit located at https://www.mpac.ca/en/OurServices/SupportMPPsandconstituencystaff.

Ontario Residential Building Permits Return to Pre-Pandemic Levels

For the first time in three years, Ontario saw the number of residential building permits drop after reaching all-time highs during the COVID-19 pandemic. In 2022, more than 108,000 building permits were issued across Ontario for new residential development — an approximate 11.6 per cent decrease from the previous year.

“People across Ontario were spending most, if not all, of their time at home during the pandemic and many decided it was an ideal time to take out building permits to update their homes,” explains Carmelo Lipsi, MPAC Vice-President and Chief Operating Officer. “Now that COVID-19 restrictions have been lifted, people are starting to gravitate back to experiences and travel. Coupled with the fact that the cost of borrowing has increased with higher interest rates, we are seeing fewer permits issued, signaling a shift in priorities.” 

Across the province, home improvement permits also decreased by more than nine per cent in Ontario, to just over 63,000. These permits were for home improvements, including renovations, additions, swimming pools, sheds, garages, and decks.

How did the municipalities in your riding rank? Check out our Top 10 Municipalities Insights - Residential Building Permits and Regional Insights to see where they stand, or read the full news release to learn more.

Spotlight on Transparency: MPAC Joins Organizations from Across Ontario as an Exhibitor in the IPC's Transparency Showcase

MPAC is honoured to be featured as an exhibitor in the Transparency Showcase. Curated by the Office of the Information and Privacy Commissioner of Ontario (IPC), this virtual exhibit highlights innovative and impactful projects and programs that modernize and improve government transparency, promote civic engagement, and have a positive impact on Ontarians.



Check out MPAC’s exhibit and explore transparency projects by other Ontario organizations here.

Read more 

As a leader in your community, property owners may come to you with questions about their assessment. We’ve curated some great resources to make it easier than ever for you to provide the answers they need.

Can’t find what you’re looking for? Reach out to us (see the contact details below). As always, we are eager to work with our partners and other stakeholders to provide information on how properties are assessed and the difference between MPAC assessment and property taxes. 

Don’t forget, property owners also have direct access to their property information and our methodology guides through AboutMyProperty on mpac.ca.

Our Customer Contact Centre is also available to help property owners with any of their property assessment needs.

One Point of Contact for MPPs and Their Staff 

Looking for assistance in responding to a constituent’s concerns regarding their assessment? Perhaps your office would like some information to add to your website or newsletter? Please reach out to our Manager of Government Relations, James Harvey at james.harvey@mpac.ca or at 647-484-1555.