2023 Outlook: Focused Efforts on Information Collection, Analysis & Industry Engagement |
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This year, MPAC will undertake several outreach initiatives to provide opportunities for meaningful engagement and information exchange with industry stakeholders.
On February 23 at our Industry Advisory Group (IAG) meeting, MPAC met with stakeholders virtually and shared updates on a variety of initiatives, including the Assessment Information Request Program and plans to re-engage with property sector subcommittees. These initiatives are important parts of MPAC’s work to keep Ontario’s property inventory updated.
The sector subcommittees will support this work and allow for more focused conversations to support our understanding of how various sectors and markets are evolving. Based on discussions to date, we are looking to form subcommittees for sectors such as retail, office, hospitality, multi-residential, farm and large and special purpose properties.
If you would like to be a part of one or more of these subcommittees or have any suggestions, please contact industry@mpac.ca.
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2023 Assessment Information Request Program |
Earlier this year, we launched our 2023 Assessment Information Request Program, the centralized program for the collection of assessment information from property owners.
As access to up-to-date and accurate data is a critical part of the assessment process, MPAC collects information directly from property owners through its annual Assessment Information Request Program. MPAC’s authority to collect this information, along with the requirement for compliance by properties owners, is outlined in the Assessment Act. MPAC is also committed to the protection of information provided in compliance with legislation and regulation.
The program includes data collection activities for many property types, including pipelines, grain elevators and large and special purpose properties, as well as income-generating properties through the Property Income and Expense Return (PIER) program, MPAC’s largest data collection initiative covering more than 35,000 properties.
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Looking Ahead: As part of our ongoing commitment to improving our data collection processes and programs, we will be establishing an industry subcommittee focused on the Assessment Information Request Program. If you are interested in participating, please contact industry@mpac.ca.
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MPAC’s latest data indicates Ontario now has 37.3 million square feet of commercial self-storage space, with more than 4.2 million square feet added in the last three years alone, and more to come. “There are a number of factors contributing to the self-storage boom, such as smaller dwellings – particularly condominiums – providing less space to store personal possessions,” says Greg Martino, MPAC Vice-President and Chief Valuation and Standards Officer.
While traditional low-rise, mini-warehouse structures are still common, there is an increase in modern storage facilities being built, which are larger, fully enclosed, multi-storey, and have 24-hour access and drive-in bays as part of their service offering.
Learn more about MPAC’s insights on self-storage facilities on mpac.ca.
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Effective January 1, 2023, the provincial government increased the Farm Forestry Exemption acreage cap for farm woodlots from 20 to 30 acres to keep pace with the growth of farm sizes. As a result of this change, eligible farm properties may require changes to classification or tax liability.
The SANs will include an attachment with additional information to assist owners in their understanding of the Farm Forestry Exemption and the reasons for receiving a Notice from MPAC. For more information, visit mpac.ca.
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Celebrating Black History Month |
To celebrate this year’s Black History Month, MPAC honoured past and present Canadians on their contributions to communities across Ontario and Canada. MPAC marked the first year where an employee-led committee developed and executed a variety of activities throughout the month. |
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Over the next few months, MPAC will present at key industry events, including:
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April 3-6: URISA’s GIS/Valuation Technologies Annual Conference for Professionals in Property Assessment, Tax Administration, Mapping and Information Technology. MPAC staff will present on a variety of topics, including Detailed Time Trends Using Machine Learning and case studies on Examining Assessment Equity with the GINI Index and Multi-scale Geographically Weighted Regression.
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If you know someone who would be interested in receiving Industry Insights,
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