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The head office is located in Pickering, Ontario. MPAC, formerly known as OPAC (Ontario Property Assessment Corporation), was created on December 31, 1997, as a method to create accurate and equitable assessments across Ontario. MPAC came into existence with the MPAC Act, and it administers the Assessment Act, both part of Ontario provincial ...
A land value tax ( LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. [1] It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating . Some economists favor LVT, arguing it does not cause economic inefficiency, and ...
The National Topographic System or NTS is the system used by Natural Resources Canada for providing general purpose topographic maps of the country. NTS maps are available in a variety of scales, the standard being 1:50,000 and 1:250,000 scales. [1] The maps provide details on landforms and terrain, lakes and rivers, forested areas ...
The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
A Canadian postal code ( French: code postal) is a six-character string that forms part of a postal address in Canada. [1] Like British, Irish and Dutch postcodes, Canada's postal codes are alphanumeric. They are in the format A1A 1A1, where A is a letter and 1 is a digit, with a space separating the third and fourth characters.
Canadian property law, or property law in Canada, is the body of law concerning the rights of individuals over land, objects, and expression within Canada. It encompasses personal property, real property, and intellectual property . Personal property laws are typically governed by provincial legislation such as the provincial Sale of Goods Acts.
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