![]() How does the 2016 reassessment affect my taxes? This budget informs the determined property tax rate and is based on many factors, including citizen priorities, assessments and valuations. This video shows how the value of your property is assessed:Įach year, Regional Council approves the budget needed to support Regional services. The accuracy of these assessments help ensure property owners pay their fair share, and nothing more. MPAC's role is to accurately assess and classify all properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario. There are five major factors that generally account for 85 per cent of your property value: ![]() The value of your property is assessed by the Municipal Property Assessment Corporation (MPAC) (external link), the largest assessment jurisdiction in North America responsible for assessing more than five million properties in Ontario. How is the value of my property assessed? Final tax bills will be mailed out by your local municipality and may vary from the values on the page. Property tax estimatorįind out what your estimated current year property taxes are. Your property tax is calculated annually using your property's assessed value, as found on your Property Assessment Notice, and the Council-approved property tax rate. The Region considers it very important for taxpayers to understand what services they receive for their tax dollars and how their tax dollars are being spent. The Region, like the city or town that you live in, prepares a budget each year, with a large part of the operating costs funded through property taxes. ![]() Your total property tax bill provides for more than just the cost of Regional services.
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