WELLINGTON COUNTY – Two Wellington County municipalities were among the tops of the categories when it came to assessment growth last year.
According to a news release from the Municipal Property Assessment Corporation (MPAC), which assesses the value and classifies all properties in Ontario, the province had a record year in 2024 for new assessment captured with $42.7 billion.
The release said a majority of that was related to new construction and improvements to residential units.
As part of that, Centre Wellington was sixth among municipalities in the Greater Golden Horseshoe with $315 million in new assessment captured, ahead of Guelph which had $231 million.
Wellington North was fourth in new assessment for municipalities with a population under 15,000 with $125 million.
Mapleton and Centre Wellington also made the top 10 list for new assessment in farms with Mapleton fourth at $53 million and Centre Wellington tenth with $28 million.
Toronto was by far the top municipality for new assessment growth with $12.1 billion followed by Ottawa at $2.8 billion.
The release said the province’s total assessed value of its 5.7 million properties is estimated at $3.2 trillion.
Property assessments for the 2025 property tax year will continue to be based on Jan. 1, 2016 assessed values meaning assessments remain the same as the 2024 tax year unless changes have been made to the property, according to the MPAC release.
