Question:

I recently received a Property Assessment Change Notice from the Municipal Property Assessment Corporation (MPAC). What is it and what happens next?

by Guest803  |  6 years, 7 month(s) ago

0 LIKES UnLike

I recently received a Property Assessment Change Notice from the Municipal Property Assessment Corporation (MPAC). What is it and what happens next?

 Tags: assessment, change, Corporation, happens, MPAC, municipal, Notice, property, received, recently

   Report

1 ANSWERS

  1. Guest804

     A Property Assessment Change Notice is issued by MPAC when there has been a change to a property during the current taxation year due to a change in property classification, an addition, renovation or new construction. This is a supplementary assessment change. 

    Property Assessment Change Notices are also issued when the current value assessment for an improvement (e.g., a new home or addition) was not previously recorded on the annual assessment roll. This type of change may apply to the current year and, if applicable, for any part or all of the previous two years. This is an omitted assessment change. 

    The City of Toronto will use the information from the Property Assessment Change Notices to issue tax bills. It is important to note that if this is a new property such as a condominium, the first regular bill you receive from the City may only be for a portion of the assessment for your unit. Tax bills will be issued for Omitted Assessments for the current and up to two prior years. Supplementary/omitted tax bills are billed with two due dates only, regardless of the number of years for which you are receiving bills.

Question Stats

Latest activity: 6 years, 7 month(s) ago.
This question has been viewed 448 time(s) and has 1 answer(s).

BECOME A GUIDE

Share your knowledge and help people by answering questions.
Unanswered Questions