What’s the difference is between ‘Assessed Value and Phased-In Value’
By Bruce Firestone | Uncategorized
Simon asks Prof Bruce, “What’s the difference between ‘Assessed Value and Phased-In Value’?” My answer— So let’s say that you own a property, Simon, that you bought in 2015 for $400,000. MPAC (Ontario’s Municipal Property Assessment Corporation) comes along in 2017 and says, “Hey Simon, good news! Your property is now worth[1] $700,000, you savvy investor, […]