Changes in ownership, value, school support trigger mailing of new
Property Assessment Notice
PICKERING, ON, Nov. 13 /CNW/ - About 830,000 property taxpayers will receive Property Assessment Notices this fall, according to the Municipal Property Assessment Corporation (MPAC), which began mailing notices this week.
"Only those property owners whose assessment information has changed since last year will receive a Property Assessment Notice from MPAC this fall," said Carl Isenburg, President and Chief Administrative Officer of MPAC.
Property taxpayers will receive a Notice from MPAC if there has been:
- a change in the ownership or legal description of the property;
- a change to a property's value as the result of a Request for
Reconsideration or Assessment Review Board decision;
- a change in school support; or
- an increase or decrease in the property's value as a result of a new
structure, addition or improvements to an existing structure, or
removal or demolition of an old structure.
In 2008, all 4.7 million properties in Ontario were assessed by MPAC under a province-wide Assessment Update. The 2008 assessed values are being phased-in over four years. The next province-wide Assessment Update will take place in 2012.
"Between province-wide Assessment Updates, we continue to inspect and assess properties across the province. If there have been any changes to a property, we produce a new Property Assessment Notice to reflect those changes," Isenburg said.
When municipalities set their 2010 property tax rates, the assessed value will be used to determine 2010 property taxes.
MPAC (www.mpac.ca) is a not-for-profit corporation funded by all Ontario municipalities. MPAC is responsible for administering a uniform, province-wide property assessment system based on current values. It provides a range of services, including the preparation of annual assessment rolls for use by municipalities and the Province of Ontario to calculate property taxes and education taxes. Municipal enumerations are also conducted by MPAC in order to prepare a Preliminary List of Electors for each municipality and school board during an election year.
MPAC has 33 local offices located across Ontario. Its head office is located in Pickering.
SOURCE Municipal Property Assessment Corporation
For further information: For further information: Michael Jacoby, Municipal Property Assessment Corporation, (905) 837-4209