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Annually, in striving for more accurate assessments, MPAC collects property rental, income and expense information for >65K Ontario commercial, industrial and multi-residential properties.
This year, the Tenant Information Program requests will be delayed until early 2016. The delay may well be worth it, because it is due to a new tool MPAC is launching for owners to submit this information online. This marks a note-worthy enhancement from the current paper-based system by making it more convenient and efficient, instead of relying on hardcopy mail submissions. This feedback was gathered through stakeholder input with industry associations, wherein owners expressed the need for a better submission method.
According to MPAC, “certain property types will not transition to the new system: amusement/gaming, golf courses, hotels/motels, large resort, long-term care facilities, mobile home parks and land lease properties, and retirement homes.”
This initiative will help ensure the MPAC continues to capture pertinent data that builds into more accurate and consistent assessments for the 2016 Ontario re-assessment cycle for 2017 to 2020 tax years.
MPAC has setup a Tenant Information Program page where further updates will be provided. Property owners and occupiers can also contact MPAC’s Customer Contact Centre at 1 866 296-MPAC (6722).
If you would like to discuss AEC’s plans for the upcoming Ontario re-assessment and how it may benefit your property(ies), please contact Bob Langlois via blanglois [at] aecpropertytax.com (subject: Email%20thru%20website%20-%20MPAC%20TIP%20Changes) (email) or directly at 416.224.9078.