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Everything you need to know about property value in Ontario before you buy

Buying your first property is an exciting milestone. Whether you are house hunting or settling into your new place, understanding how property value works in Ontario can help you make informed decisions about your investment.For most of us, our home is the biggest asset we’ll ever own, and its value can have a significant impact on our lives. MPAC (the Municipal Property Assessment Corporation) is an independent, not-for-profit organization responsible for assessing and classifying over 5.7 million properties across Ontario, ensuring the process is accurate and transparent.If this is your first time hearing about MPAC, no sweat. Here’s what you need to know about how property value is assessed in Ontario and where MPAC comes into the picture.What’s the difference between assessed value and market value?If you’ve ever browsed listings or talked to a real estate agent, you’ve probably heard both “market value” and “assessed value” ...


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