MPAC’s started its Property Income and Expense Return (PIER) campaign on Friday, May 14. The deadline for submitting the requested information is Friday, July 16.
Having complete, accurate and up to date information is critical to the valuation process. The rental, income and expense information from commercial, industrial, multi-residential and mixed-use properties we collect through this campaign supports our analysis and review of market changes and valuation parameters that will inform the next assessment update.
“The submission of rental, income and expense information is particularly significant this year as we continue to closely monitor the market during these challenging times,” said Greg Martino, Vice President and Chief Valuation Standards Officer. “The collection and analysis of this information is so important.”
If you received a PIER request letter from MPAC and have not yet submitted your information, please do so by July 16. The information collected this year will assist MPAC in determining accurate values and will help us better understand the impact of the pandemic. If you need support submitting your information please contact us at mpac.ca/Contact or visit mpac.ca/PIER.