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MPAC - Apartment Buildings Assessment, aboutmyproperty.ca

R

RE123RE

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Hi,
My friend who owns an apartment building received a letter from Mpac, requesting him to provide information by filling a report online in aboutmyproperty.ca, to help them assess his property.

A question for Apartment Buildings owners:

Do you recommend he fills the information or just let Mpac assess the value based on what they already have in case it is not mandatory?
(in the letter they mentioned "if the information requested is not provided and he chooses to appeal.. the burden of proof will shift from Mpac to the appellant")

Also, a funny question - as an apartment building owner, is it usually in your favor if Mpac's new assessed value is increased or reduced? (Perhaps it is beyond our control. Still, just curious)
An advantage is if you sell and a potential buyer sees a higher value.
A disadvantage is, with higher assessed value you may have to pay higher property taxes.
Thoughts?
Any suggestion how to reply to Mpac or tip how to fill their forms online?
Thanks
 
In almost all cases it is best to do nothing and wait for the tax bill. Appeal it if you think it is too high. Do nothing ( and pay ) if it is accurate or too low as most assessments are 5-10% below market to not trigger a flood of appeals.
 
ThomasBeyer said:
In almost all cases it is best to do nothing and wait for the tax bill. Appeal it if you think it is too high. Do nothing ( and pay ) if it is accurate or too low as most assessments are 5-10% below market to not trigger a flood of appeals.
Click to expand...
Hi,
So it is an option, not mandatory by law, to fill the forms and provide the information Mpac requested?
Thanks
 
RE123RE said:
Hi,
So it is an option, not mandatory by law, to fill the forms and provide the information Mpac requested?
Thanks
Click to expand...
What law would that be ? Did they provide you with a copy of the law, or threaten fines if not filled out ? As such, use the waste paper basket as a key organizational tool.
 
ThomasBeyer said:
What law would that be ? Did they provide you with a copy of the law, or threaten fines if not filled out ?
Click to expand...
Hi,

MPAC mentioned in their letter:

".. As we prepare for the 2016 province-wise Assessment Update, your assistance providing the following information will help us produce an accurate assessed value for your property:

- An income and expense report on your property for your most recent fiscal year.
- A report on the market rents for each suite type as of January 1, 2016.

Your deadline to submit this information to MPAC is March 31, 2016."

and on the second page of their letter:

".. MPAC's Authorization to Collect and protect Your Information
This request for rental, income and expense information is authorized under section 11 of the Assessment Act.
Section 13 of the Act provides penalties for non-compliance and for providing false information. Furthermore, if the information is not provided and you choose to appeal your assessed value to the Assessment Review Board, the Act provides that the burden of proof will shift from MPAC to the appellant."

Here is section 13 I copied from the Act:

"Offence for not furnishing information
13. (1) Every person who, having been required to furnish information under section 10 or 11 makes default in delivering or furnishing it, every person who fails to provide information as required under section 16.1 or 16.2 and any corporation that makes default in delivering the statement or notice mentioned in section 25 or 30, is guilty of an offence and on conviction is liable to a fine of not more than $1,000 and an additional fine of $100 for each day during which default continues. R.S.O. 1990, c. A.31, s. 13 (1); 1997, c. 5, s. 8; 2006, c. 34, Sched. D, s. 94 (5)."

Thoughts?

Thanks
 
Hi,
Why do you think sending data is more likely to result in an increase in the assessed value than not sending it?
If data not sent, can't Mpac make assumptions against the owner (i.e. assume rents collected are higher than market rent) - which increase the value even more than it should/more than they would had data been sent?
Thanks
 
Because in most cases assessments are below market value. If you send accurate ( i.e. non-fudged ) data chances are high to very high they assess accurately i.e. at market.

Out of 40 buildings owned over various hold periods from 2-12 years since 2000 I think we appealed an assessment only twice and in both cases got a reduction.
 
Last edited:
Hi,
It sounds like not providing Mpac with the information requested, simply resulted for you in them assessing your properties without your input.
Are you sure you received a similar letter? Asking as of course I like your answer, sounds good. It just contradicts a bit the penalties/consequences mentioned in their letter and in the Assessment Act for not providing the data..
From their act: "$100 for each day during which default continues bla bla".
Thanks
 
If you run a business you need a good waste paper basket as one of your key organizational tools ...
 
For those who have bought buildings, what is your experience when buying buildings at well above assessed values? (possibly even 2x or more current assessment) Does this trigger mpac to reassess, and therefore having a huge property tax increase?
 
Yes it does usually but it depends on city and province. Where is this?


Sent from my iPhone using myREINspace
 
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