NORTH PERTH – With strong growth being reported across Ontario for 2021, the Municipal Property Assessment Corporation (MPAC) valued more than 86,680 new properties and improvements to existing properties totalling $38 billion. North Perth was fourth in growth for a municipality with a population under 15,000.
When looking at the top five growth rates for small municipalities, Muskoka Lakes led in new construction with $185 million in new assessment, of which 75 per cent was from seasonal properties. This was followed by Blue Mountains at $144 million, Middlesex Centre at $76 million, North Perth at $74 million and finally Saugeen Shores at $67 million.
“We’ve seen it at the council table, we’ve seen it in our streets,” said Mayor Todd Kasenberg. “North Perth is growing rapidly, and so I am surprised only that we aren’t a shade closer to the top. We are fortunate for so many obvious things – a community committed to the quality of life, a vibrant entrepreneurial spirit, a successful and prosperous business community, and abundant physical infrastructure. We continue to nurture all of these, and in so doing, have created a community about right for our times.
“We have work to do – we work on a range of issues, from responsible growth and community planning, downtown renewals, social infrastructure, health care and long-term care, and amenities that will future-proof us. It has been busy. It will continue to be busy. And I continue to call myself, as a citizen, North Perth Proud.”
The assessed value of Ontario’s 5.5 million properties is now estimated to be more than $3.04 trillion.
“In 2021, MPAC assessed nearly 36,800 new residential homes and more than 11,300 residential condominium units with an assessed value of $25.81 billion,” said Nicole McNeill, MPAC president and chief administrative officer. “On the non-residential side, we saw more than 1,500 new commercial and industrial buildings with a total assessed value of $3.27 billion.”
Across Ontario, more than 60 per cent of new property value was located in 10 municipalities. Toronto led the way with $10.71 billion in new assessment due in large part to residential condominiums, which accounted for 58 per cent of Toronto’s new assessment. This was followed by Ottawa at $3.02 billion, which in contrast saw 11 per cent of its new assessment from residential condominiums; then Vaughan at $2.02 billion, Mississauga at $1.64 billion and Brampton at $1.29 billion.
The Ontario government postponed the province-wide assessment update due to the pandemic. Property assessments for the 2022 and 2023 property tax years will continue to be based on the fully phased-in Jan. 1, 2016 assessed values.
Colin Burrowes, Local Journalism Initiative Reporter, Listowel Banner