If you own commercial property in Ontario, you know property assessments can directly impact your tax bill. Well… get ready for a change. The Municipal Property Assessment Corporation (MPAC) is moving toward paperless notices, which means those thick envelopes in the mail may soon be replaced by an email, or worse, nothing at all if you are not signed up.
This shift can make life easier, but only if you are prepared. Let’s break down what this means for small business owners and how you can avoid being caught off guard.
Why MPAC is Going Paperless
MPAC’s move to digital delivery is part of a broader effort to modernize communication, reduce costs, and speed up the process. In theory, it’s a win-win: less paper, faster delivery, and easy online access.
But here’s the catch, if you miss the email or never sign up for online access, you could miss important changes to your property’s assessed value, and that can lead to costly surprises on your tax bill.
💡Pro Tip: Create a dedicated email folder or rule for MPAC messages so they do not get buried under a mountain of unread promotions.
How This Impacts Your Business
Your property assessment determines how much you pay in property taxes. Even a modest increase in assessed value can mean thousands more in annual taxes. Missing your notice means missing the window to appeal or correct errors.
Key impacts to consider:
- Your tax planning could be thrown off
- Appeal deadlines are strict and non-negotiable
- Budgeting for next year becomes riskier without early knowledge of changes
💡Pro Tip: Compare your assessment to similar properties in your area every year. If something looks off, act quickly.
Steps to Stay Informed
Avoiding surprises is all about being proactive. Here’s how to stay in the loop:
- Register for MPAC’s online portal — Sign up at mpac.ca and choose electronic delivery.
- Update your contact information — Ensure MPAC has your current email address.
- Mark your calendar — Assessment notices are typically sent in the fall.
- Review your notice immediately — The earlier you spot an issue, the better your chance of resolving it.
💡Pro Tip: Set a recurring reminder in your business calendar each year to log in and check your assessment, even if you don’t receive an email.
How an Accountant Can Help
An experienced accountant can review your property assessment, compare it with market trends, and advise whether an appeal is worth pursuing. They can also integrate property tax planning into your overall business strategy so you are not scrambling when rates change.
If you are juggling multiple responsibilities, outsourcing this review can save you time, money, and stress. Our financial controller services help business owners stay ahead of these changes and keep cash flow predictable.
Bottom Line
The move to paperless assessments is here to stay. Embracing it now will help you avoid last-minute headaches and unexpected expenses.
Want help with your business finances? Contact our accounting team today to get expert support tailored to your needs.
