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“For Airbnb hosts in Toronto, it’s been a tough year. The pandemic reduced tourism to a trickle, and the City of Toronto has all but outlawed short term rentals, with an exception for situations where the property is the principal residence of the host. These hosts will need to register with the City and pay a 4% tax.” Tax classes are determined by the Assessment Act, by way of the following regulation: https://www.ontario.ca/laws/regulation/980282#BK22 Read the

Today the Municipal Property Assessment Corporation (MPAC) will begin mailing over 875,000 Property Assessment Notices to property owners across Ontario. If you recently moved, changed your school support or made changes to your property, your notice is on its way. In fact, we processed more than 421,000 changes in ownership and 212,000 changes in value on properties. “Our work never stops to collect and validate property data to support accurate property assessments, market insights and analysis,”