Long-term Care Home Assessments

Long-term care homes are residences where adults can live, receive help with daily activities and have access to nursing and personal care. They can include nursing homes, senior care centres and may be part of a continuum of care facility (apartments, retirement homes, life lease, etc.). 

How your long-term care property is assessed

We use the income approach to value long-term care homes, which is based on the present worth of anticipated future income.  

1. Estimate the annual revenue that can be generated by the home.
2. Deduct the annual expenses that are necessary to support the revenue stream.
3. Apply a capitalization rate to the long-term care home's net income to estimate a current value for the property.

To learn more, review the methodology guide.

Filing your Property Income and Expense Return

By filing your Property Income and Expense Return, you help MPAC ensure that your property values are based on up-to-date and accurate information.

Learn more about filing your Property Income and Expense Return.