MPAC’s 2022 Annual Report and Corporate Performance Report are now available
|
|
|
|
MPAC’s 2022 Annual Report showcases our work as Ontario’s property market experts and the role we play in maintaining an accurate, complete and up-to-date record of all properties in Ontario. Learn more about our milestones and achievements over the year as we focused on supporting stakeholders, municipalities and the people of Ontario.
The 2022 Corporate Performance Report highlights our accountability and transparency as a public-facing organization, including statistics on how well we are meeting our goals on areas such as capturing new assessment, the proportion of property assessments that are accepted without going to appeal, customer contact centre satisfaction and many more.
Both reports are available on mpac.ca.
|
|
|
MPAC’s Property Income and Expense Return (PIER), the largest data collection initiative undertaken through the Assessment Information Request Program, kicked off on May 12. Approximately 35,000 letters were mailed out to owners of income-generating properties requesting income, expense and rental information. These properties include retail stores, hotels, motels, multi-residential properties, golf courses, offices and industrial malls. Property owners have until July 14 to submit their information.
The information collected through this program is vital to our work. It supports the development of accurate property assessments and ensures our database is up to date.
|
|
|
MPAC recognized at the 2023 RICS Awards – Americas |
|
Valuation & Assessment Standards’ (VAS) Assessment Standards and Mass Appraisal (ASMA) team was recently recognized by RICS – Americas for its work in the development and application of mass appraisal models and research in emerging technologies. MPAC received the Highly Commended recognition in the Valuation Award category at the NYU World Built Environment Conference earlier this month. The team was recognized for its evolution into a self-sustaining group of future valuation ‘thinkers’ committed to innovation and the pursuit of quality. |
|
(from left to right) Brian Guerin, Director, ASMA; Jen Mclean, Mass Appraisal Specialist, ASMA; Ann Gray, RICS President; Brian Bottan, Mass Appraisal Specialist, ASMA; Chris Smith, Chair, Americas World Regional Board, RICS |
|
MPAC is continuing its work to review the recent assessment appeal decision (MPAC v. County of Wellington 2023) impacting gravel pits. As part of our work, we are committed to communicating regularly with stakeholders and have already commenced our outreach. If you are interested in learning more, please contact us at industry@mpac.ca.
|
|
2023 Property Assessment Change Notice |
|
In April, MPAC mailed nearly 41,000 Property Assessment Change Notices to property owners across Ontario, representing more than $12 billion in new assessment. The timing of this first mailing is new for this year and demonstrates our commitment to providing timely information to property owners.
For more information on Property Assessment Change Notices and why you may receive one, visit mpac.ca.
|
|
Building permits return to pre-pandemic levels |
|
|
|
Ontario saw the number of residential building permits drop after reaching all-time highs during the COVID-19 pandemic. In 2022, 108,080 building permits were issued for new development and home improvement, approximately 11.6 per cent decrease from 2021 and returning to 2020 levels.
For snapshot information based on permit category and for more information on MPAC’s insights on building permits, visit mpac.ca.
|
|
Over the next few months, MPAC will present at key industry events, including:
-
July 5-6: Canadian Property Assessment Network (CPAN) Conference. Greg Martino and Brian Guerin will be presenting on Developing Real Time Values Through Data Science.
|
|
If you know someone who would be interested in receiving Industry Insights, have them send an email to Industry@mpac.ca.
|
|
|
|
|
|
|
