The Municipal Property Assessment Corporation (MPAC) administers a uniform, province-wide property assessment system which determines current value and classifications for over 5 million properties in Ontario. The authority to do so is in accordance with the provisions of the Assessment Act. The Township of the Archipelago does not determine property value assessments.
2020 Property Assessment Update Postponed
As part of the Ontario Government’s Economic and Fiscal Update on March 25, the Hon. Rod Phillips, Minister of Finance, announced the Province’s decision to postpone the 2020 Assessment Update, which would have seen the Municipal Property Assessment Corporation (MPAC) update the assessed value of every property in Ontario this year. In lieu of providing municipalities with updated assessed values for 2021, MPAC will deliver property assessments based on the fully phased-in January 1, 2016 current values, which is the same valuation date MPAC used for this year. For example, if your property value in 2020 was $300,000, municipalities will use this same value to calculate your property taxes in 2021. MPAC will continue to conduct regular business, including updating property information, completing tax applications and managing Requests for
Reconsideration and appeals. If you have questions about your assessed value or the postponement of the 2020 Assessment Update, visit mpac.ca or call 1-866-296-MPAC (6722) or TTY: 1-877-889-MPAC (6722).
The following videos provide information with respect to the Municipal Property Assessment Corporation (MPAC) and how property taxes are calculated:
How Your Property Tax is Calculated
The Town of Parry
Sound Municipal Office
52 Seguin Street
Parry Sound ON P2A 1B4
How Are You Assessed
The principal benchmark used to assess property is current value (market value, actual value). Current value is considered to be the most likely selling price a willing buyer would pay and a willing seller would accept in an open market, where both parties are under no pressure either to buy or sell the property.
When fairly assessed, similar properties located in a similar area will be assessed at a similar rate, resulting in the payment of similar taxes.
It is important to note that there are five (5) major factors which account for 85% of the home's value:
1. Location
2. Living area (square feet)
3. Age of the property
4. Lot size (lot dimensions)
5. Quality of construction
2017 Assessment Notice
Every four (4) years, MPAC conducts a province-wide Assessment Update and mails Property Assessment Notices (PANs) to every property in Ontario. These notices were sent out for Township property owners in July 2016 covering the new assessment cycle for taxation years 2017 to 2020 based on a valuation date of January 1, 2016.
Under the phase-in provisions in the Assessment Act:
a) Increase in assessed value is introduced gradually over four years (25% each year)
b) Decrease in assessed value is introduced immediately
What if I disagree with my Assessed Value or Classification?
If a property owner disagrees with their property’s assessed value or classification, MPAC will review the assessment free of charge by way of the Request for Reconsideration (RfR).
Unlike previous years where the RfR deadline was March 31 of the taxation year in question, the deadline for filing the RfR is now 120 days from the Issue Date of the PAN. Given that our PANs will be delivered on Monday, August 8, 2016 (as noted above), the RfR deadline for our PAN will be December 6, 2016.
Login information for the RfR can be found on the Property Assessment Notice.
The following video provides information with respect to The Request for Reconsideration Process.
Not satisfied with the result of your RfR?
You have 90 days after MPAC has notified you of it s decision on your RfR to file an appeal with the Assessment Review Board (ARB). The ARB is an independent tribunal of the Ontario Ministry of the Attorney General and has its own appeal process. See AssessmentReview Board or phone 1-800-263-3237.
MPAC's Digital Toolkit
As part of MPAC’s public education program, MPAC has created a digital toolkit to help property owners learn more about Ontario’s property assessment and taxation system.
This online toolkit of resources is available here on mpac.ca, or feel free to copy and paste the URL below directly into your internet browser:
https://www.mpac.ca/en/OurServices/SupportMunicipalities/PropertyAssessmentandTaxationToolkit
In the toolkit, you will find the following:
- MPAC’s new video on How Property Taxes are calculated.
- Information on MPAC’s Myth vs Fact education campaign.
- Key messages about the relationship between property assessment and property taxes.
- Frequently asked questions from property owners.
AboutMyProperty
MPAC provides an excellent tool called AboutMyProperty which enables the property owner to:
- Learn how your property was assessed
- Learn more about the relationship between property assessment and property taxation
- Check the information MPAC has on file relative to your property
- View and download a copy of your Property Assessment
- Use an interactive map to compare your property to similar properties in your neighbourhood
