PARRY SOUND – Farmland owners can expect an average 34 per cent increase in their property assessment this year.
“Farmland continues to be in high demand,” explained Anne Haines, Municipal Property Assessment Corporation (MPAC) account manager. “Some areas aren’t as high as 34 per cent. There are pockets.”
Haines gave a presentation on the upcoming assessment values to be expected this year, during the District of Parry Sound Municipal Association meeting held in South River on Sept. 28.
MPAC administers a uniform, province-wide property assessment system based on current value assessment in accordance with the provisions of the Assessment Act on a four-year cycle. MPAC assesses and classifies more than 4.8 million properties each assessment year.
Haines said the Ontario real estate market has seen a 17 per cent increase in sales since the last assessment conducted in 2008.
“The market has been a little volatile,” said Haines, noting a drop in the real estate market between 2008 and 2009.
“The economy started to grow and rebuild after 2009,” she said.
She said waterfront owners should expect a 12 per cent increase on average in their property assessments this year, which would be calculated as a three per cent increase over each of the four subsequent years.
“Some of the larger lakes in Muskoka – Parry Sound had a dramatic decrease (over the years). There have been a lot of dips, but they held their own overall,” she said.
According to Haines, residential mail-outs are being sent now through mid-November, and business assessments will be mailed in November, based on MPAC’s property value assessment as of Jan. 1 of this year.
MPAC has streamlined its online services so that property owners can access the assessment of each of their properties online, as well as compare their assessment value to other similar properties using the AboutMyProperty site. The website even offers street views and aerial views of each property.
A personalized user ID and password for the website is included with every notice that is mailed out. For the first time, property owners can now view all of the properties they own using the same online account.
“We decided to offer the property assessments online because we had so many requests for reprints that it was becoming too costly,” said Haines. “This way people can also compare their assessment with their neighbour’s.”
Haines said if a person found their assessment to be unfair following their comparisons, they have until April 13 to make a request for consideration.
To view your assessment online, visit www.mpac.on.ca.