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Sep 3, 2024 · Why has it been eight years? MPAC was all set to update every property's value in 2020, on schedule, but the pandemic hit and the Ontario government postponed the process.
Due to the COVID-19 pandemic, the Ontario government has postponed the 2020 Assessment Update. 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.
The province has indicated that property assessments for the 2021 taxation year will continue to be based on the fully phased-in January 1, 2016 current values (i.e., the same valuation date in use for the 2020 taxation year).
In 2020, the province-wide assessment update was postponed due to the COVID-19 pandemic. As part of the Ontario Economic Outlook and Fiscal Review, on November 4, 2021, the Province announced its decision to postpone the assessment update again.
Aug 8, 2023 · Ontario’s competitiveness and development will benefit from returning to business post-covid, and part of that is having a regular, updated assessment roll. Regardless of what happens, now is the time to review your property portfolio and explore what can be done next year for a 2016 or 2022 valuation date.
With 2020 property values ready to go, and just weeks until more than five million Property Assessment Notices were destined for mailboxes across Ontario, the COVID-19 pandemic hit. Soon after, the provincial government postponed our 2020 province-wide assessment update.
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Dec 1, 2021 · Although the province is gradually rebounding amidst the lingering consequences of COVID-19, the Ontario government has decided to postpone the planned reassessment for the 2021, 2022, and 2023 tax years.
