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Ontario sees another record increase in the value of property inventory with over $42.7 billion in new assessment
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2024 saw another milestone for Ontario’s property inventory, with over $42.7 billion in new assessments captured, including new construction and improvements to existing properties. Residential homes, including condominiums, accounted for nearly $31 billion of this increase, while commercial and industrial properties contributed more than $5.7 billion. The total assessed value of Ontario's nearly 5.7 million properties is estimated at approximately $3.2 trillion, based on January 1, 2016 assessed values. These changes are outlined in the annual assessment rolls that were delivered to the province’s 444 municipalities. | |
Ten municipalities accounted for 54 per cent of the new property value. Toronto led the way with $12.11 billion, followed by Ottawa with $2.88 billion. Vaughan contributed $1.62 billion, Oakville added $1.57 billion, and Mississauga rounded out the top five with $1.56 billion. | | | |
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NEW quarterly reports on Ontario’s property trends | |
Late last year, MPAC launched The Residential Report: Market Insights, a new quarterly residential report that dives into the latest trends in Ontario’s property sectors.
Developed by our Valuation and Assessment Standards team, each | | | |
report provides valuable insights into the residential property market in two formats: a PDF report that offers narrative analysis and chart representations of the data, and an interactive web map showcasing regional and municipal residential data. To access materials, simply agree to some terms and conditions—no login required! We hope these insights will be helpful for your municipality as you navigate and respond to property trends. Read the Q3 2024 and visit our Research and Insights page for more tools and analyses about Ontario’s property landscape. If you have any questions, including those about data usage and permissions, reach out to your local Municipal and Stakeholder Relations team. | |
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Engaging with our partners | |
MPAC was excited to participate in the 2025 Rural Ontario Municipal Association (ROMA) Conference in Toronto in January. Our Learning Lunch session featured a dynamic Q&A format, allowing municipalities to engage directly with our panel on topics about our work in non-reassessment years, key property market trends in Ontario, how MPAC supports municipalities and property owners, and the potential role of AI in property assessment. As an exhibitor, we had the opportunity to connect with municipal staff and elected officials, answer their questions, address their concerns, and showcase the latest MPAC products and services. The event was a great platform for fostering collaboration, building stronger relationships, and helping municipalities across Ontario meet their unique needs. | |
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Photos from left to right: MPAC Regional Managers Lynne Cunningham, Tracy McIntyre, Anne Haines, and Laura Voltti; Anne Haines with Alan Selby, Treasurer, East Garafraxa at the MPAC booth; Mary Dawson-Cole, Director, Municipal and Stakeholder Relations, with Alan Spacek, Chair, MPAC Board of Directors, Jamie Bishop, Vice President, Public Affairs and Customer Experience, and Greg Martino, Vice President and Chief Valuation and Standards Officer.
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Municipal and Stakeholder Relations Regional Manager Natasha Dawood with Account Manager Ron Etchen. | | Our team was also excited to exhibit at the 2025 Economic Developers Council of Ontario (EDCO) Annual Conference and Showcase in early February. Connecting with economic development professionals from across Ontario to share insights on how property assessment data can drive local growth, the conference was also a great opportunity to showcase our services and explore new collaboration opportunities to support municipalities and the issues that matter most to them. | | | |
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MPAC 101 – Our role in the property assessment and taxation system | |
Whether you're new to the municipal sector or looking to deepen your understanding of Ontario's property assessment and taxation system, this webinar is for you. Join MPAC's subject matter experts Jon Hebden, Regional Manager, Golden Horseshoe, and Sarah Lake-Mitchell, Account Manager, City of Toronto, for our MPAC 101 session and hear more about:
• MPAC’s role in property assessment • Three approaches to valuation • How assessment concerns are resolved • The relationship between property values and taxes • Programs and tools for managing reassessment changes
Don't miss this valuable opportunity—bring your questions and gain insights directly from the experts!
Date: Thursday, April 17, 2025 Time: 1:00 - 2:00 PM EDT | |
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In case you missed it Unlocking the potential of MPAC data products with Natasha Dawood and Janet Rombis from your Municipal and Stakeholder Relations team, together with Julie Millson, Program Manager, Partnerships, Data, Analytics and Visualization Services, York Region. | |
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Get ready to connect! Join us at these exciting conferences this March and April!
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March 5 – 6 East Central Farm Show in Lindsay | |
March 6 – 7 Thunder Bay District Municipal League Conference and AGM in Thunder Bay | |
March 30 – April 2 Ontario Business Improvement Area Association (OBIAA) Conference in Collingwood | |
April 23 – 25 Northwestern Ontario Municipal Association (NOMA) Conference in Thunder Bay | |
April 30 – May 2 Ontario Small Urban Municipalities (OSUM) Conference in Collingwood | |
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Friendly Reminders Time for a Municipal Connect refresh? To keep your team up to date with the latest enhancements and ensure they have the knowledge to leverage the platform successfully, schedule a virtual tutorial session. Your local Municipal and Stakeholder Relations team can customize each session to meet your needs. Reach out to learn more!
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We’re better together MPAC is dedicated to building stronger partnerships with municipalities across Ontario, and your local Municipal and Stakeholder Relations team is here to support you. Want more information about who we are and how we can work with your municipality? Reach out to book an information session for your staff or municipal council. | |
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