Property Assessments

The Municipal Property Assessment Corporation (MPAC) uses a current value assessment (CVA) to determine a property's assessed value. 

It includes the analysis of the sale of comparable properties in your area, with a review of factors that affect market value (i.e. location, lot size, and living area, age of the property, major renovations, additions, and quality of construction). 

There are several items to consider if you feel that your Current Value Assessment (CVA) is too high.

• Could you sell your property for the value listed on your Property Assessment Notice? If the answer is yes, you should feel confident that your CVA is fair.
• Visit AboutMyProperty to see other properties in your neighbourhood and compare their values to those of your property. You will need the roll number and access key on your Property Assessment Notice.  If you do not have this information, you can call the MPAC Customer Contact Centre at 1-866-296-6722 for assistance.
• Contact the Municipal Property Assessment Corporation (MPAC) to review your Property Assessment Notice and your CVA

If, after considering these factors and speaking with MPAC representatives, you determine that your CVA is too high, you may file a Request for Reconsideration (RFR) within the timeframe printed on your assessment notice from MPAC. Your Property Assessment Notice lists this issue date and annual filing deadlines for RFRs.

If you disagree with the outcome of the RFR decision, you can appeal to the Assessment Review Board. Information about appeals is located on MPAC’s website.

If you have appealed your assessment, you should continue to pay your tax bill until you are notified of the outcome of your appeal.  Once the County has received notification of the appeal decision, any changes will be applied to your tax roll, and any applicable refund can be issued to you.  Amounts not paid prior to the approval of your appeal will be subject to penalty and interest.

The Ontario Government implemented the CVA approach in 1998 to establish consistent property assessment practices province-wide. All properties in Ontario are assessed and classified by MPAC, an independent, not-for-profit corporation funded by all Ontario Municipalities. 

MPAC is accountable to the Province, all municipalities, and taxpayers. It is guided by the Assessment Act and regulations set by the Government of Ontario.

If you have not completed the necessary paperwork required by Agri-corp to confirm your eligibility, your assessment will be returned to Residential. 

In addition, any changes to the property’s ownership, including a company name change or adding/removing an owner for a property classified as a farm, will cause the assessment to change from Farm to Residential and initiate a review of the property classification.

Please contact Agri-Corp regarding farm status on a property.

agricorp.com
Phone: 1-888-247-4999
Email: contact@agricorp.com

If you have recently constructed a new home, it is possible that you are making property tax payments based on the value of the land only. 

The Municipal Property Assessment Corporation (MPAC) is responsible for assessing all properties in Ontario on which property taxes are based.  The County can only apply property taxes to our assessed value on file.  We have no control over when we receive the assessment value on a new property from MPAC, which can take up to several years. 

Your home is taxable from the date that it was ready for occupancy.  While your property may not be fully assessed for up to three years, you will be responsible for the taxes that apply back to the occupancy date.

In order to prepare for the eventual tax bill, you can estimate the taxes on your new home and prepare for the Supplementary taxes which you will be responsible for.

To estimate the annual taxes on your new home, multiply the purchase price of the home (or approximate current selling price) by the Property Tax rate for residential properties:

As an example:

$400,000 home, 2020 Residential Tax Rate of 0.01263380

Remember that this amount is a rough estimate only. Amounts will vary based on the actual assessment value and current-year tax rates. 

It is recommended that you plan ahead to pay this amount, either in advance of receiving the supplementary bill or by setting the funds aside to pay the bill when you receive it.