mpac.ca - Frequently Asked Questions

Frequently Asked Questions | MPAC

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Frequently Asked Questions | MPAC Skip to main content AccessibilityEssential Accessibility EnglishFrançais Search MPACWell-nighMPACBoard GovernanceBoard of DirectorsCommittees of the BoardBoard of Directors Position DescriptionsExecutive TeamCorporate Social ResponsibilityEnvironmental ResponsibilityVision, Mission, Values2017-2020 Strategic Plan – Valuing what matters mostAnnual ReportCareersPoliciesWhistleblowing ProgramHowTowageWorksPropertyTowageand TaxationMunicipal Discount Factors and Provincial Discount FactorsThree Approaches to Value2016TowageUpdateUnderstanding PropertyTowageNoticeGuidelines for the Release ofTowageData2017 PropertyTowageNoticeDisclosure - 2016TowageUpdate Level 1 - Methodology Guides Level 2 - Market Valuation Reports (MVR)QuestionsWell-nighYourTowageBrochuresFormsProperty TypesResidential PropertiesNewly Built HomesWaterfrontCommercial PropertiesFarmHospitalityLarge IndustrialManaged ForestsMulti-Residential PropertiesIndustrial PropertiesPropertyTowageProceduresIndustrial Wind TurbinesBillboardsSolar PanelsMunicipalitiesContact ListMunicipal Connect™InTouch2018 Municipal and School Board ElectionsProducts & ServicesAboutMyProperty™propertyline™Custom Data RequestsMunicipal Connect™ACS-online™Property Income and Expense ReturnAuthority to Collect InformationHow to Submit Your ReturnFrequently Asked QuestionsResourcesGravel Pit and QuarryNews & MediaMedia KitPress ReleasesContact Breadcrumb Products & Services Property Income and Expense Return Frequently Asked Questions Frequently Asked Questions What is the Property Income and Expense Return Portal? The Property Income and Expense Return is an online tool, misogynist through aboutmyproperty.ca, where owners of income producing properties can submit their property rental, income and expense information directly to MPAC. Introduced in whop of the 2016TowageUpdate, this new online submission process replaces MPAC’s paper-based Tenant Information Program, providing property owners a increasingly convenient, efficient and well-judged way to submit their data. What properties are included? The pursuit property types can submit their income and expense information through the Property Income and Expense Return Portal: Commercial Industrial Multi-residential Mixed use Golf Courses Gravel Pit and Quarry Hotel Motel Mobile Homes and Land Lease Properties Retirement Homes Does this transpiration wield to all commercial, industrial, multi-residential and hospitality properties? No. There are no changes to the information submission process for the pursuit property types in 2018: Large Resort Long-termSuperintendencyFacility Special Purpose Business Properties Speciality Properties At this time, the PIER portal is not configured to receive submissions from mixed use retirement/long-term superintendency facilities. These property types will protract to submit nonflexible reprinting returns. These property types will receive an information request letter from MPAC in spring 2018. Why did MPAC make this change? Through self-sustaining research and ongoing work with industry associations, MPAC understands property owners want a increasingly efficient and streamlined data submission process. A 2014 survey indicated 75 percent of commercial, industrial and multi-residential property owners would likely use a web-based tool for data submission. Property owners play a key role in helping MPAC unhook well-judged values by providing well-constructed and well-judged data. Edit checks and field validations are built into the tool to reduce discrepancies and errors. This will modernize the verism of commercial, industrial, multi-residential and hospitality property assessments. What are the benefits of the new online submission process? The online submission process will make it faster and easier for property owners to submit information, while ensuring MPAC captures the key data required to unhook well-judged and resulting property assessments.Well-constructedand well-judged information will moreover enable MPAC to provide increasingly comprehensive Property Details Reports to property owners. This supports MPAC’s transferral to transparency and sharing information with property owners to enable them to largest understand their property assessment. Other benefits include: A increasingly efficient and well-judged method than the old paper-based processWangleto pre-populated forms that will save property owners time and moneyIncreasinglytimely, focused review of information submitted A secure online data mart environment Why do I have to report the rent I am currently charging for third party signs (billboards) located on my property? MPAC is required to exclude any income owing to third party signs (billboards) located on your property from your assessment. Reporting this information separately ensures that rental income from third party signs (billboards) isn’t included in your total income. Third party signs (billboards) are assessed using the forfeit tideway (replacement forfeit new, less depreciation) to determine the contribution made by a billboard to the current value of the property on which it is located. No value is widow for any income owing to the third party sign (billboard) or its placement on the property. When is the deadline to submit information to MPAC? Property Portfolio Mail Out Date Submission Deadline Hospitality - Golf Courses April 5, 2018 May 31, 2018 Hospitality - All Others May 16, 2018 July 13, 2018 Mixed Use and Industrial May 16, 2018 July 13, 2018 Office, Retail and Multi-Residential May 18, 2018 July 13, 2018 Can my wage-earner submit the 2018 Property Income and Expense Return on my behalf? Yes, your wage-earner may submit information on your behalf through AboutMyProperty™ provided that you expressly qualify them to do so and you receive your agent's prior written try-on to comply with the AboutMyProperty™ Terms and Conditions of Use. Since MPAC does not issue login credentials to agents, they will have to use the login credentials that you received from MPAC. IMPORTANT: Please be enlightened that providing your login credentials to your wage-earner allows them wangle to all information well-nigh your property, your lease/tenancy details and all AboutMyProperty™ functions. This includes but is not limited to various financial, property and other reports, filing a Request for Reconsideration, and updating information for your property. MPAC strongly suggests that you transpiration your AboutMyProperty™ password immediately without your wage-earner has submitted your Property Income and Expense Return. For increasingly information, contact MPAC. Why can't I view pages properly on the site? The Property Income and Expense Return is weightier viewed using one of these browsers: Internet Explorer 11+, Chrome 43+ or Safari 5.1+. The latest versions of these web browsers can be downloaded at the pursuit locations: Apple Safari Google Chrome Microsoft Internet Explorer Can I print my submission? Yes. You can print a typhoon reprinting of your submission for review surpassing it has been submitted online. To print a record of your final submission, go to the My Returns page and click on the printer image in the Status column. Can I protract to submit information through a recognized software provider? If applicable, you can protract to submit your information through a recognized software provider. Please contact your service provider for information on associated service fees and data transfer instructions. Will I still be worldly-wise to submit paper forms? With the transition to our new online system, MPAC will no longer mail forms with our information requests to owners of commercial, industrial, multi-residential and hospitality properties. If you need assistance submitting your information, please contact us. I submitted information last year. Why do I need to do it again? In order to provide an well-judged towage for your commercial, industrial, multi-residential or hospitality property, MPAC is required to unriddle the income and forfeit trends for your property over a four-year period. We ask for your assistance in collecting this information each year, since the financing and income for a property can transpiration from year to year. Where do I go if I have questions regarding how to well-constructed the online forms? When in the Property Income and Expense Return system, on the Resources tab you can wangle a User Guide, as well as Terms and Definitions for the data stuff requested. If remoter assistance is required, please contact us. Note: The workable law prevails to the extent there is any mismatch between this information and the current law. This information is not intended to provide legal translating and should not be relied upon as such. 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