MPAC Industry Insights

2022 Q4

Wishing you a happy holiday and prosperous new year

As 2022 comes to a close, I would like to extend my best wishes to all of our industry stakeholders.

Throughout this past year, we have continued to work to ensure the organization is well positioned to deliver updated assessments when directed by the Province. This year, we delivered more than 770,000 Property Assessment Notices and added more than $37.8 billion in new assessment from new construction and improvements to existing properties. More information about property activity across the province is included in this update.

Staying connected with stakeholders is important and our planning is well underway for a meeting with the Industry Advisory Group early in the new year and an in-person Industry Forum for later in 2023.

We will also meet with stakeholders to discuss issues of interest including our information collection program and business property portfolios. More information will be shared in the new year and we look forward to continuing to work with our stakeholders.

I hope you take the opportunity for some well-deserved time for yourselves and with family and friends over the coming weeks. As always, if you have any suggestions or would like to share feedback, feel free to contact us at any time through industry@mpac.ca.

Greg Martino

Vice-President and Chief Valuation and Standards Officer

2022 Property Assessment Notices

Last month, MPAC mailed more than 770,000 Property Assessment Notices to property owners across Ontario to reflect changes in value, ownership or classification.

As the timing around the next assessment update has not been determined, property assessments for the 2023 property tax year continue to be based on the fully phased-in January 1, 2016 assessed values.

To help explain how current values are reflective of a January 1, 2016 valuation date, a new information insert has been included with each notice mailed. Inserts also include general information around why we send notices during a non-assessment update year and a QR code linking to mpac.ca for further details.

For more information, you can visit mpac.ca or check out the Roll Return Fact Sheet.

Roll Return Highlights

Earlier this month, MPAC delivered 2022 assessment rolls to each municipality reflecting assessment changes this year.

For more information, you can visit mpac.ca or check out the Roll Return Fact Sheet.

MPAC at the Conference of Valuation Agencies

On December 8-9, several of our valuation experts participated in the Conference of Valuation Agencies (CoVA). The event brings together assessment leaders from around the globe to discuss best practices and new industry trends, and we’re thrilled that MPAC experts were able to contribute to sessions dealing with mass appraisal, innovation and staff recruitment and retention.

“The event was an excellent opportunity for us share and learn from our respective experiences with fellow assessors,” said Greg Martino. “While we may vary in size and geography, our experiences as assessment organizations are quite similar. We will take our learnings and apply them to our work here in Ontario.”

New Executive Director, Equity, Diversity, Inclusion and Anti-Racism

As part of MPAC’s Equity, Diversity, Inclusion and Anti-Racism initiative, we’ve been taking important steps towards ensuring that all voices are respected, valued and being heard.

To support the organization and advance our strategy and framework, Rupa Aggarwal has joined MPAC as our new Executive Director of Equity, Diversity, Inclusion and Anti-racism. Establishing an Equity, Diversity, Inclusion and Anti-racism office at MPAC was a significant milestone in our journey, and we’re excited to have Rupa onboard in this newly created role.

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