Retirement Home Assessments

Retirement homes are facilities that are registered with the Retirement Homes Regulatory Authority, that offer varying levels of care, amenities and services at a cost to residents. 

How your retirement home property is assessed

MPAC primarily uses the income approach to value retirement homes, which is based on the present worth of anticipated future income. 

To establish the current value of a retirement home, we:

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 (cap rate) to the retirement home's net income.

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.