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Additional Property Taxes

Posted on January 5, 2021 by
We are writing to advise you that MPAC has recently issued thousands of supplementary and omitted assessments for industrial, commercial and investment properties throughout the province.  These updated assessments capture changes to your property (real or perceived) and reflect MPAC’s opinion of physical (i.e., additions) or legal (i.e., zoning) changes that have occurred.  These updates usually result in you paying more tax and often these updated assessments extend beyond 2020 and can go back to
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Posted in News

2020 Roll Return – MPAC

Posted on December 18, 2020 by
The assessed value of all properties in the province of Ontario is estimated to be more than $3 trillion. These changes are summarized in the annual Municipal Property Assessment Corporation (MPAC) assessment rolls, which were delivered to municipalities on Tuesday, December 15th, 2020. Key Facts MPAC delivers an assessment roll annually to municipalities and the Province of Ontario to support the calculation of property and education taxes.In March, the Ontario government postponed MPAC’s province-wide Assessment Update
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Posted in News

2020 was a tough year for Airbnb hosts; it could get worse

Posted on December 7, 2020 by
“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
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Posted in Uncategorized

MPAC mails more than 875,000 notices, nearly half of which reflect changes in ownership across the province

Posted on November 17, 2020 by
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,”
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Posted in Uncategorized

Ontario Budget Property Tax Highlight – 2020

Posted on November 17, 2020 by
Business Education Tax (BET) To reduce regional tax inequities and improve business competitiveness, the government proposes to reduce all high BET (Business Education Tax) rates to a rate of 0.88 percent for both commercial and industrial properties beginning in 2021, a reduction of 30 percent for businesses currently subject to the highest BET rate. Property Tax Relief for Small Businesses Beginning in 2021, municipalities would be able to adopt a new optional property subclass for
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Recent Posts

  • Additional Property Taxes
  • 2020 Roll Return – MPAC
  • 2020 was a tough year for Airbnb hosts; it could get worse
  • MPAC mails more than 875,000 notices, nearly half of which reflect changes in ownership across the province
  • Ontario Budget Property Tax Highlight – 2020

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