Winter 2022
Welcome 2022!
As we embrace another year with the pandemic still very much impacting most of our lives in one way or another, I want to sincerely thank you for your continued collaboration as we try to navigate the challenges brought on by COVID-19 together. 

In response to current restrictions, our offices are closed to the public and we’ve temporarily suspended property inspections.

As you’re likely aware, the government announced the continued postponement of the province-wide assessment update as part of the Ontario Economic Outlook and Fiscal Review: Build Ontario.

This means that property taxes for the 2022 and 2023 property tax years will continue to be based on the January 1, 2016 valuation date. Property assessments will remain the same as they were for the 2021 tax year, unless there have been changes to the property. 

This announcement does not change the work we do. MPAC will continue to maintain its comprehensive database and deliver property values, insights and services, and continue to work directly with property owners and stakeholders to ensure we’re in a position to deliver updated assessments when directed.
Even in these challenging times, I am optimistic for the year ahead. In the coming months we will host an Industry Advisory Group meeting and lay the groundwork for additional meaningful engagement opportunities for stakeholders. 

If you have any questions or would like to share your ideas on how we can better support you or our industry stakeholders, I encourage you to reach out to Industry@mpac.ca. 

Stay safe and well,

Greg Martino
Vice-President and Chief Valuation and Standards Officer
New name, refined focus
When we launched Industry Update in 2019 our goal was to keep our industry partners informed during the 2020 Assessment Update by sharing news on current and emerging property assessment topics.

This publication has become an important source of information for hundreds of subscribers, and it’s more than just a way to keep you informed during an Assessment Update. That’s why we’ve given it a new name: Industry Insights.

Look for more stories on market trends, innovations in assessment processes, technology and changes in Ontario’s property landscape in addition to our regular operational updates. If there’s something you’d like to learn more about, let us know.
Highlights from 2021
Despite the restrictions resulting from the pandemic, we worked together more than ever to exchange information and insights last year. 

  • We formed four property subcommittees (hospitality, retail, multi-residential and office) to better understand how COVID-19 continues to impact certain sectors.

  • We made improvements to our products and services to support stakeholder access and understanding of their assessments.

  • We participated at more than 20 conferences and industry events throughout the year providing our assessment expertise and insights .
 
MPAC also added more than $38 billion in new assessment from new construction and improvements to existing properties, assessed more than 48,000 new residential homes with an assessed value of close to $26 billion and mailed nearly 877,000 Property Assessment Notices to property owners across Ontario reflecting changes in assessment.

To learn more about which municipalities experienced the greatest amount of growth, broken down by property type and size, review our 2021 Roll Return Fact Sheet. 

If you know someone who would be interested in receiving Industry Insights, have them send an email to Industry@mpac.ca.
If you know someone who would be interested in receiving Industry Insights,
have them send an email to Industry@mpac.ca.
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