Property Taxes & MPAC Assessments for New Condos

Property taxes for new condos in Ontario can be a bit convoluted, as the taxes are assessed by MPAC, while municipalities handle the billing side, and those two timelines do not always line up neatly for a newly built condo. 

MPAC says new condo units are often occupied before the condominium is legally registered, which means an owner can take possession before the unit has its final assessment roll number and fully settled tax treatment.

This guide explains how property taxes for new condos are assessed in Ontario, why early tax bills can be incomplete, what an MPAC new condo assessment affects, and why you may receive a supplementary tax bill from the City of Ontario during e first years of ownership.

How MPAC Fits Into New Condo Property Taxes

MPAC, the Municipal Property Assessment Corporation, assesses property values in Ontario. Municipalities then use those assessed values, along with their own tax rates, to calculate the property tax bill. In other words, MPAC does not send the tax bill, but its assessment is part of what the municipality uses to produce one. MPAC’s homeowner guidance says the Property Assessment Notice shows the assessed value and classification of the property, and the municipality uses that information to calculate taxes.

Owners of new condos in Ontario need to watch property tax timing more closely than they would with a resale unit, as resale condos already have an assessment history. A new unit may still be moving through the registration and assessment process while the owner is already in occupancy.

Why the Timing Is Different for New Condos

With a newly built condo, occupancy can happen before the building is fully registered and before MPAC has finished assigning the final assessment details to the individual unit. 

MPAC says that for units occupied before registration, it may issue Property Assessment Change Notices to the developer first, then create individual assessment roll numbers and issue notices to owners later once the declaration is registered and the units are occupied.

That means early bills may be based on interim or estimated values rather than the final assessed value of the completed unit. An MPAC new condo assessment is not always fully in place when the owner first starts getting billed.

Interim Bills and Final Bills

Most Ontario municipalities issue two regular tax bills each year: 

• An interim bill
• A final bill

Toronto says interim bills are mailed in January and final bills are mailed in May. It also notes that there are multiple installments for each bill rather than a single annual due date.

The early bill can be misleading for new condo owners. Toronto’s 2026 interim property tax brochure states that the interim bill is calculated at 50% of the previous year’s annualized property tax.

Regular billing cycle at a glance

For new condo owners in Ontario, the bigger issue is not just when the property tax bills arrive, but whether the underlying assessment is fully in place.

What Is a Supplementary Tax Bill in Ontario?

Once MPAC issues the formal assessment for a new condo, the municipality may issue a supplementary tax bill outside the regular billing cycle. Toronto says supplementary and omitted assessments are billed separately from the regular cycle and can be issued throughout the year. 

The city also says that if you own a new property, the first regular bill may only relate to the land value, and you should expect a supplementary or omitted bill for the structure to follow.

Toronto also notes that MPAC can provide supplementary or omitted assessment values for the current tax year and the two previous years in certain circumstances, including new construction.

Why this is important

• It can be retroactive: The bill can cover periods going back to occupancy.
• It is separate from regular billing: Owners may think they’ve paid taxes, then get another bill.

It is often due quickly: Toronto says supplementary and omitted bills are due in two installments and are not paid through the city’s pre-authorized tax payment program.