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Revalued.caYour home's value, and what it unlocksAsk Mitey
Your assessment notice

Reading your assessment notice: assessed value vs market value

Your notice states a value as of the assessor's valuation date, not today. To judge it, compare it with similar homes' assessments on the same roll and with sales of similar homes around that date, never with today's prices. In Ontario that date is still January 1, 2016, so assessments look low against current prices; what matters is whether yours is in line with your neighbours'.

Facts checked How we check facts

What's on the notice

  • Assessed value and the valuation (base) date it reflects.
  • Property class (residential, farm, commercial), which sets the tax rate applied.
  • Property facts: lot, living area, year built, basement, garage. Errors here are the easiest wins.
  • Phase-in (Ontario): increases phased in over several years.
  • The appeal deadline for the first step. Write it in your calendar the day the notice arrives.

The valuation date changes everything

Two assessments only compare if they share a date. If you want to compare an old-date assessment with today's prices, scale it with a price index (yours to choose). For example, a home assessed at $520,000 on a 2016 date, in an area where an index rose from 100 to 152, would be about $790,400 in today's terms. That tells you nothing about whether the assessment is fair; equity with neighbours does.

How to tell if yours is out of line

  1. Check every property fact on your notice against reality.
  2. Look up similar homes' assessments (many assessors publish them online).
  3. Find sales of similar homes close to the valuation date.
  4. Compare per square foot, adjusting roughly for obvious differences.

If it is

Talk to the assessor first; many provinces resolve errors informally and free. Then file the formal first step before the deadline. Your province's page lists it: appeals by province.

Frequently asked questions

Is my assessed value what my house would sell for?

No. It's an estimate as of the valuation date, made for every property at once. It can be far from today's price, especially in Ontario where the date is 2016.

Primary sources

  1. Appraisal Institute of Canada — What appraisers do (AACI, CRA designations; three approaches). Checked .
  2. MPAC — Notices and notifications (2026 valuation date). Checked .
  3. MPAC — Request for Reconsideration. Checked .
  4. Tribunals Ontario — Assessment Review Board FAQ (deadlines, $132.50 fee) (effective October 28, 2026). Checked .
  5. Town of LaSalle — Property assessments (2026 postponement). Checked .
Is an appeal worth it?Tax saved vs the fee.Open →Appeals by provinceYour deadline and steps.Open →Using a price indexAdjust a value between dates.Open →