The Municipal Property Assessment Corporation released details about its annual assessment rolls for 2019.

The organization said it added more than 44,000 new residential units and 2,000 new commercial buildings across the province. In total, it valued 2019 assessment rolls at $2.96 trillion.

“Ontario continues to grow,” said MPAC president & chief administrative officer Nicole McNeill. “In 2019, MPAC added value to municipal assessment rolls from new construction and/or additions to existing properties worth more than $37 billion.”

MPAC updates the current value assessment of every property in Ontario every four years to capture changes to properties and the real estate market. The next provincial assessment update will take place in 2020 based on a January 1, 2019 valuation date.

Although 2019 is not a province-wide assessment update year, MPAC reviews properties and updates property information regularly to return an accurate assessment roll each year.

In November, MPAC mailed more than 800,000 notices to property owners reflecting changes in assessment that have taken place over the last year.

MPAC’s 2019 assessment roll shows more than 5.3 million properties. Included in that list are:

• 4,833,059 residential properties worth more than $2.12 trillion
• 222,043 farm properties worth more than $139 billion
• 161,956 commercial properties worth more than $319.8 billion
• 79,358 industrial properties worth more than $114.9 billion
• 47,317 special and exempt properties worth more than $144.9 billion
• 19,795 multi-residential properties worth more than $119 billion