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On August 16, 2023, the Ontario government filed a regulation to amend the Assessment Act, extending the postponement of a province-wide reassessment through the end of the 2021-2024 assessment cycle. Property assessments for the 2025 property tax year will continue to be based on fully phased-in January 1, 2016 current values.
Aug 17, 2023 · Ontario Property Tax News—The Minister of Finance has officially postponed the Ontario Reassessment for the 2024 year, published in Ontario Regulation 261/23, amending Ontario Regulation 282/98 to include 2024 as a non-reassessment year.
Mar 28, 2024 · On August 10, 2023, the provincial government announced that it was again postponing the province-wide reassessment for 2024 to enable it to conduct a review focusing on “fairness, affordability and business competitiveness” in order “to enhance the transparency and equity of future assessments.”
Sep 3, 2024 · The Municipal Property Assessment Corporation (MPAC) used to assess every single property in Ontario every four years, but the provincial government put that process on hold when COVID hit —...
On August 16, 2023, the Ontario government filed a regulation to amend the Assessment Act, extending the postponement of a province-wide reassessment through the end of the 2021-2024 assessment cycle. Property assessments for the 2023 and 2024 property tax years will continue to be based on fully phased-in January 1, 2016 current values.
Aug 16, 2023 · Ontario property assessments will officially remain frozen on 2016 values for the 2024 taxation year, and the Divisional Court will hear an appeal regarding taxpayers' rights to annually challenge their property assessments. The Ontario property assessment system ordinarily operates on a four-year cycle.
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Why did Ontario postpone the 2020 assessment update?
Aug 18, 2023 · Yesterday, the government announced that it will delay an assessment update again in 2024. As a result, Ontario’s municipalities will continue to calculate property taxes using 2016 property values. AMO is concerned that further delays will compound uncertainty for residents and businesses.
