Yesterday, as part of the Ontario Government’s 2021 spring budget, the Minister of Finance announced the decision to once again postpone a province-wide property assessment update due to the pandemic.
Property assessments for the 2022 property tax year will continue to be based on the fully phased-in January 1, 2016 assessed values.
In addition, the budget notes that the government will hold consultations on the timing and valuation date for the next assessment update and that outcomes will be communicated this fall.
MPAC will continue to maintain our extensive property database reflective of all property changes that happen each year in every property sector, in every corner of the province.
Please feel welcome to share this update with your members.
Chris Fusco, AIMA
Director of Real Estate & Strategic Accounts
Municipal Property Assessment Corporation