Municipal Property Assessment Corporation (MPAC) delivers an assessment roll annually to municipalities and the Province of Ontario to support the calculation of property and education taxes. These assessed values are used by municipalities to distribute taxes, not determine them.
Key Facts:
The assessed value of all properties in Ontario is approximately $3.2 trillion.
In 2024, MPAC added more than $42.7 billion in new assessment from new construction and improvements to existing properties.
Property assessments for the 2025 property tax year will continue to be based on January 1, 2016 assessed values.
View Fact Sheet: 2024 Roll Return Fact Sheet
View MPAC Website: Website
New assessment refers to new construction and/or additions to existing property that have been recently completed and assessed during the year.
According to MPAC Richmond Hill is in the top 10 municipalities for new assessment in 2024.
New Assessment ($622M)
New Assessment in Residential Condominiums ($153M)
New Assessment in Greater Toronto Area ($622M)
