Shortly, every residential property owner in Toronto will be receiving a 2016 Property Assessment Notice from the Municipal Property Assessment Corporation (MPAC) in the mail. The property assessment notice provides the current value assessment of a property as of January 1, 2016. The updated assessment values will be used by the City of Toronto to calculate municipal property taxes for the 2017-2020 tax years.
Property owners should check their Notice of Assessment upon receipt. Owners can confirm the information used to determine their property assessment and compare their assessment with others in their neighbourhood by visiting MPAC’s online portal, http://www.aboutmyproperty.ca.
More information on Property Assessment Notices is available at http://www.toronto.ca/propertyassessmentnotices.