Municipal Property Assessment Corporation Set to Mail More Than One Million Property Assessment Notices to Ontario Property Taxpayers

    PICKERING, ON, Nov. 13 /CNW/ - The Municipal Property Assessment
Corporation (MPAC) today announced that it will begin mailing more than one
million Assessment Notices to Ontario property taxpayers this week. Assessment
updates for 2006 and 2007 have been cancelled. A property taxpayer will only
receive a Notice if:

    -  property ownership or data has changed;
    -  property classification or school support has changed;
    -  the property's value has changed as a result of a Request for
       Reconsideration or an Assessment Review Board decision; and/or
    -  a property's value has increased or decreased as a result of a change
       to the property, for example, a new structure, addition, or removal of
       an old structure.

    "Only those property owners whose assessment information has changed
since last year will receive an Assessment Notice from MPAC this fall," said
Carl Isenburg, President and Chief Administrative Officer of MPAC. "These
Notices also reflect the work we have done over the past year inspecting
properties, updating values and improving the accuracy of the property
information we have on file."
    Notices will show the assessed value of a property based on a January 1,
2005 valuation date. When municipalities set their 2008 property tax rates,
the assessed value will be used to determine 2008 property taxes.
    The preparation and mailing of Assessment Notices each fall is one of
MPAC's ongoing responsibilities. The next province-wide assessment update will
take place in 2008. Assessment Notices will be mailed to all property owners
across Ontario in the fall of 2008.

For further information:

For further information: Jane Davidson, Municipal Property Assessment
Corporation, (905) 837-4207

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