Property taxes in Ontario are primarily based on which assessment method?
Correct Answer
C) Market value assessment updated every four years
Ontario uses Current Value Assessment: MPAC values every property at market value as of a province-wide valuation date, and the Assessment Act provides for a province-wide update every four years. The 2020 update was postponed, so MPAC confirms that 2026 property taxes are still based on January 1, 2016 current values. Municipalities apply their tax rates to those assessed values.
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