PICKERING, ON, Dec. 9, 2025 /CNW/ - Ontario's property inventory continued to grow in 2025. New data released by the Municipal Property Assessment Corporation (MPAC) offers a detailed look at property values and trends across the province. MPAC assesses and classifies more than 5.7 million properties, with a total assessed value surpassing $3.2 trillion, based on the legislated January 1, 2016 valuation date.
"MPAC plays a key role in supporting strong, informed communities," says Nicole McNeill, President and Chief Administrative Officer, MPAC. "To keep Ontario's property inventory accurate and up to date, MPAC conducted more than 310,000 property inspections, processed 176,000 building permits, and processed 430,000 sales transactions this year. This work strengthens municipal tax bases and provides local leaders with the reliable data they need to plan services, manage growth, and invest in their communities. Our work underpins a property tax system that generates approximately $30 billion each year to support essential municipal and education services across Ontario."
MPAC captured more than $41 billion in new assessment for 2025. New assessment reflects the added value from new construction and improvements made to existing properties. Nearly $30 billion came from residential homes, including condominiums, and almost $6 billion from commercial and industrial properties. This added value will help generate new property tax revenue for municipalities to support services, infrastructure, and community growth.
"The annual roll return is a cornerstone of Ontario's property assessment and tax system," says Carmelo Lipsi, Vice-President of Valuation & Assessment Operations and Chief Operating Officer, MPAC. "This year's results highlight robust residential and commercial growth, with significant activity in new homes, condominium developments, and industrial facilities. We continued to see significant activity from municipalities such as Toronto, Ottawa, Mississauga, Vaughan, and Oakville -- communities that continue to drive much of the province's new assessment value."
Understanding the trend: capturing completed development, not current construction conditions
Over the past three years, MPAC has assessed more than $125 billion in new assessment. This year's strong results reflect the completion of development that was initiated during earlier periods of higher construction activity. MPAC captures new assessment once projects are completed, meaning there is often a lag between the timing of building permits and when new assessment appears on the roll. While 2025 saw significant activity, slower-than-average building permit activity has been widely reported across the province suggesting new assessment growth may begin to soften.
Municipal leaders in new assessment for 2025 include:
- Toronto: $11.46 billion
- Ottawa: $3.37 billion
- Mississauga: $1.96 billion
- Vaughan: $1.68 billion
- Oakville: $1.66 billion
Together, these municipalities account for nearly 60 per cent of Ontario's new assessment.
Additional highlights from across Ontario:
- Residential Condominiums: Toronto leads with $6.61 billion
- Seasonal Properties: Muskoka Lakes ranks first with $109.36 million
- Municipalities under 15,000 population: Erin leads with $295.9 million
Regional highlights:
- Greater Golden Horseshoe: Hamilton leads with $700.47 million
- Eastern Ontario: Ottawa recorded $3.37 billion
- Central Ontario: Barrie leads with $475.15 million
- Southwest Ontario: London tops the region with $759.38 million
- Northeast Ontario: Sudbury leads with $142.89 million
- Northwest Ontario: Thunder Bay leads with $61 million
Property assessments for the 2026 property tax year will continue to be based on January 1, 2016 assessed values. This means that property assessments remain the same as the 2025 tax year unless changes have been made to the property.
For more information, please see the 2025 Roll Return Fact Sheet.
About MPAC
MPAC is an independent, not-for-profit corporation funded by all Ontario municipalities, accountable to the Province, municipalities, and property taxpayers through its 13-member Board of Directors.
Our role is to accurately assess and classify all properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario. We are the largest assessment jurisdiction in North America, assessing and classifying over 5.7 million properties with an estimated total value exceeding $3.2 trillion.
SOURCE Municipal Property Assessment Corporation
Media contact: [email protected], 289-539-0830
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