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a bout MPAC

a bout MPAC. MUNICIPAL PROPERTY ASSESSMENT CORPORATION. September 10 th , 2012 Town of Tillsonburg. Agenda. Roles and Responsibilities in the Property Assessment System About MPAC Property Assessment Cycle AboutMyProperty 2.0

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a bout MPAC

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  1. about MPAC MUNICIPAL PROPERTY ASSESSMENT CORPORATION September 10th, 2012 Town of Tillsonburg

  2. Agenda • Roles and Responsibilities in the Property Assessment System • About MPAC • Property Assessment Cycle • AboutMyProperty 2.0 • Request for Reconsideration • Contacting MPAC

  3. Roles, Responsibilities & Relationships Legislate Administer Assessment Review Board Adjudicate MunicipalitiesProvince Tax

  4. About MPAC • Not-for-profit, non-share capital corporation • Governed by a Board of Directors • Largest assessment jurisdiction in North America

  5. MPAC’s Role • Assess and classify almost 5 million properties • Annual Assessment Roll • Supplementary/Omitted Listings (growth) • Respond to property taxpayer enquiries • Other legislated products: • Preliminary List of Electors • Jury duty lists • Population reports

  6. Current Value Assessment (CVA) • Based on open market sales between a willing seller and a willing buyer • CVA determined by analyzing actual sales of properties in a given area • Excludes: • family sales; • power of sale; and • foreclosures.

  7. Assessment Cycle 2012 Property Assessment Notices will be delivered beginning in September this year.

  8. Assessment Phase-In Example Assessment Phase-in Example Property Classification Residential Your Property Value as of January 1, 2012 $360,000 Your Property Value as of January 1, 2008 $300,000 Property’s Value Change $ 60,000

  9. Request for Reconsideration (RfR) • Mandatory first step for residential, farm and managed forests property classes • Filing deadline is March 31st of taxation year

  10. Outreach Initiatives Brochures including: • About MPAC • Residential • Farmland • Small Commercial and Industrial • Recreational Waterfront • AboutMyPropertyTM

  11. Contacting MPAC Four Convenient Ways • website • www.mpac.ca • get answers to commonly asked questions • forms and info about assessment • links to the ARB and the Province of Ontario phone1 866 296-6722TTY1 877 TTY-6722or through Bell Relay Service in person visit one of our 33 convenient locations across Ontario fax 1 866 297-6703

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