In this edition of Industry Insights | | |
A message from Greg Martino, Chief Assessor and Data Officer
- Highlights from the Ontario budget
Assessment Information Requests
- 2026 Property Income and Expense Return
- New affordable rental housing subclass
- 2026 Aggregate Site Information Request
In the news
- The Business Properties Report: Market Insights
- 2025 Annual and Performance Report
PROfessional highlight
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Amanda Blundell, Manager, Valuation, Research and Advisory Services – Income
MPAC in motion
On social
| | A message from Greg Martino, Chief Assessor and Data Officer | | Highlights from the Ontario budget | | |
Spring is a busy time across Ontario’s property sectors, and I appreciate the continued engagement we see from property owners and industry partners.
In April, the provincial government released the 2026 Ontario Budget: A Plan to Protect Ontario, placing a strong focus on housing, infrastructure, economic growth, and affordability.
The government also announced targeted support for Ontario’s business community, including a reduction in the small business corporate income tax rate from 3.2 per cent to 2.2 per cent, effective July 1, 2026. This change is expected to provide meaningful tax relief to more than 375,000 small businesses.
For MPAC key partners, the budget reaffirmed the importance of a strong property assessment and taxation system and continued support for initiatives affecting rental housing, student housing, municipal data access, and digital service delivery. The government also signalled further work to explore options to encourage new purpose-built student housing, an area that MPAC will continue to monitor closely.
MPAC remains committed to working with industry partners to ensure their perspectives help shape and inform our approach through ongoing collaboration and engagement.
| | Assessment Information Requests | | Each year, MPAC requests property information from property owners and/or their representatives as part of our Assessment Information Request Program. This annual initiative is crucial to our efforts to maintain accurate property records, deliver quality assessments, and inform changes to Ontario’s evolving property landscape. | | 2026 Property Income and Expense Return | | |
Our largest campaign is the Property Income and Expense Return where information is requested from more than 35,000 income-producing properties, including multi-residential, commercial, retail, hotels, motels, golf courses, offices, and industrial malls. Request letters were sent to property owners on May 27, with a submission deadline of July 22, 2026.
As compliance is required under the Assessment Act, we’ve made it easier than ever for property owners to submit the requested information securely through MPAC AboutMyProperty™. The online portal features many benefits, including:
- Streamlined navigation with a user-friendly interface.
- Carry-forward functionality, where first-time users will have their information saved to support future submissions and users who submitted last year can carry-over their 2025 submission, saving time and effort.
- The ability to view and print past submissions.
To support industry associations and groups with the sharing campaign updates with their members, MPAC has developed an online information toolkit with content for newsletters, web pages, and social media posts, along with accompanying graphics.
For more information about Assessment Information Requests or the Property Income and Expense Return program, visit mpac.ca/air.
| | New affordable rental housing subclass | | |
In 2025, the Province of Ontario introduced a new optional affordable rental housing subclass within the multi‑residential and new multi‑residential property classes, effective January 1, 2026. For the subclass to apply in 2026, an upper-tier or single‑tier municipality must have passed an adopting by-law by September 30, 2025. The subclass applies to units that meet the eligibility criteria, not the entire property.
MPAC will collect affordable rental housing information as part of the annual Property Income and Expense Return, with specific questions for property owners of multi-residential units to help confirm eligibility. Property owners are encouraged to submit the requested information online through the Assessment Information Request Portal in MPAC AboutMyProperty™.
Property owners with units that meet the eligibility requirements will be notified through a Property Assessment Notice this fall.
To learn more about the new optional subclass, visit mpac.ca/affordablerentalhousing.
| | 2026 Aggregate Site Information Request | | |
To ensure our database remains current and that we are accurately capturing the dynamic nature of aggregate sites, MPAC is undertaking an aggregate information request. This campaign supports both the delivery of annual assessment rolls and the development of quality assessments.
From May 4 to July 13, 2026, aggregate site owners will be asked to provide current site details, including a breakdown of licensed, unlicensed, rehabilitated, and depleted lands.
For this year’s campaign, aggregate property owners can submit requested property information online through MPAC AboutMyProperty, providing a user-friendly platform with features that streamline the submission process.
To learn more about the aggregate sites information request, visit mpac.ca/aggregates.
| | New report looks at Ontario's business property sectors | | |
MPAC has released The Business Properties Report: Market Insights, a report that examines how Ontario’s business property sectors have evolved over the past five years. The report offers business property owners and other key partners timely insights to better understand current market conditions and support business and investment planning.
The report provides an overview of trends across six key business property sectors: retail, office, small commercial, standard industrial, multi-residential, and hospitality. Drawing on data from 2021 to 2025, it highlights shifts in development activity, sales patterns, and income performance, and demonstrates how market conditions vary across Ontario’s major market areas.
Designed for business property owners and other key partners, the report brings together information from MPAC’s roll return, aggregated income and expense information collected through the Property Income and Expense Return, and property sales data. The result is a consolidated, data-driven view of how economic conditions, changing consumer behaviours, and business needs are influencing regional growth patterns and Ontario’s business property landscape.
Explore the complete report to see how trends are playing out across business property sectors and regions across Ontario: The Business Properties Report: Market Insights.
| | From insights to impact, MPAC is your partner in progress | | |
We work alongside you, proactively, collaboratively, and with purpose. Our services are tailored to your needs, our partnerships are grounded in trust, and our focus is always on helping you serve your communities.
Read our 2025 Annual and Performance Report.
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This edition, we’re talking to Amanda Blundell, Manager of the Valuation, Research, and Advisory Services – Income team at MPAC.
Can you tell us about yourself?
I have been at MPAC for over 20 years, and currently hold a role as Manager, Valuation, Research, and Advisory Services – Income. Our central role is research and development, valuation of complex retail and office properties, market analysis, and training.
What are some of the trends you're seeing within the retail sector?
The retail sector is broad and spans from open-air community plazas to large destination-based enclosed regional shopping centres. Non-anchored retail dominated the sales transactions in 2025, while grocery-anchored and essential service retail continue to remain a desirable asset in Ontario. We’re also seeing construction of new grocery stores and essential services to meet the demand. Enclosed malls have spent the past decade undergoing major, long‑term redevelopment, often in partnership with residential developers, with former anchor spaces being reimagined and frequently used for temporary entertainment or attraction‑based tenants in the interim. Median standard retail rents continue to remain relatively flat with marginal growth outside of the Greater Toronto and Hamilton Area and increased occupancy levels across the sector.
How does MPAC stay on top of a market that is constantly evolving?
MPAC’s annual collection of income and expense information through the Property Income and Expense Return provides the foundation for understanding market conditions across all sectors. For the retail sector, which has experienced significant change over the past 5-10 years, this information is crucial to understanding trends in revenues, expenses, capital expenditures, fair market rents, and vacancies over time for property assessment purposes.
By analyzing this data, we are able to produce timely, accurate reports that highlight real‑time trends and support informed decision‑making both within the organization and across the broader community.
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Our Valuation & Assessment Standards team recently connected with property managers, property owners, and industry partners as an exhibitor at PM Springfest. We shared property assessment insights and the importance of participating in MPAC’s annual Property Income and Expense Return campaign.
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Canadian Property Tax Association Ontario Valuation & Legal Symposium (May 11–12, Toronto)
Our valuation and legal teams represented MPAC at one of Ontario’s key property tax conferences, with multiple presentations focused on MPAC’s priorities, assessment best practices, and case law updates.
Greg Martino shared an update on how MPAC is maintaining accurate property inventories, conducting ongoing sector analysis, and collecting essential property data.
Appraisal Institute of Canada National Conference (May 27-30, Toronto)
Greg Martino, MPAC Chief Assessor and Data Officer, will participate in a panel discussion to explore how property assessment models differ across Canada and how collaborative approaches can improve transparency, reduce appeals, and support better decision-making.
Institute of Municipal Assessors Annual Conference (June 7, Windsor)
Valuation and Assessment Standards and Legal teams will participate in an interactive session that examines differing professional perspectives on the application of exemptions through a debate-style format, featuring practical examples and audience engagement.
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Interested in learning more about property assessment? | MPAC assessment experts welcome the opportunity to offer their expertise and insights about best practices in property valuation and assessment at industry conferences and speaking engagements. Reach out to let us know about upcoming events. | | Working with industry partners | | MPAC is committed to working with industry partners across the province. If you want more information about MPAC and how we work with you, please contact us at industry@mpac.ca. We look forward to learning more about opportunities to connect in the future. | | | | |
