Residential Property Assessments
Residential properties can be found in urban, rural and waterfront locations. Residential properties may include:
- single-family dwellings such as town homes or detached houses
- condominium units
- apartment buildings with six or fewer units
- duplexes
- co-operative housing
- vacant land that is available for residential use
- a mobile home
- a detached or semi-detached home or another type of multi-unit structure such as a condominium.
How your residential property is assessed
To assess your residential property, we compare the details of your property to similar ones that have recently sold in your area. This is called the direct comparison approach.
To learn more, review the methodology guide.
Factors affecting your residential property value
There are up to 200 factors that generally account for your property's assessed value, however there are five primary factors that account for your property’s value. Learn more about these.
Other features may also affect your property's value to a lesser extent. Learn about residential site features.
Assessments for specific scenarios
Condominium property assessments
To assess your condominium, we look at land title documents and building permits, and often conduct on-site property inspections or ask you to answer questionnaires about your property.
Learn more about Condominium property assessments.
Newly built home property assessments
When your home is built, the permits process will prompt an MPAC property inspector to visit and confirm the details. After you move in, you'll receive a Property Assessment Change Notice acknowledging that the house was built, and then every four years you'll receive a Property Assessment Notice with your home’s assessed value on January 1 of the prior year.
Learn more about how your new home was assessed on our Newly built home property assessments page.
Waterfront home property assessments
If your property has direct access to a natural or man-made waterway, or if you're separated from it by a right-of-way, private road or unopened road, you have a waterfront home.
Learn more about how we assess homes like yours on the Waterfront home property assessments page.
Solar panels on residential properties
If you have solar panels on your property, the size and location of your installation may or may not affect your assessed value.
Learn more about the impact of solar panels on your assessed property value.
Programs to reduce your property taxes
Senior and Person with Disabilities Property Tax Exemption
You may be eligible for tax relief if you are a senior or a person with a disability. Learn more about exemption for seniors and persons with a disability.
