Wanda Westover

MPAC’s mandated role is to accurately value and classify all Ontario properties in compliance with the

Assessment Act and related regulations. To establish a property’s assessed value, MPAC analyzes property sales

in a community to determine the CVA. This method is used by most assessment jurisdictions in Canada and

throughout the world. When assessing a residential property, we look at all of the key features that affect

market value. Five major factors usually account for 85% of the value: location; lot dimensions; living area; age

of the structure(s), adjusted for any major renovations or additions; and quality of construction. Examples of

other features that may affect a property’s value include: number of bathrooms; fireplaces; finished basements;

garages and pools. Site features can also increase or decrease the assessed value of your property such as

traffic patterns; being situated on a corner lot; and proximity to a golf course, hydro corridor, railway or green

space