Insti-News | Spring 2023

INSTI-NEWS SPRING 2023

SPRING 2023 ISSUE

Insti-News is published by the Institute of Municipal Assessors with assistance from the Communications Services Committee. Chaired by: Cathy Ranieri Sweenie, Affiliate.

Any opinions or recommendations expressed in this issue are those of the contributors and do not necessarily reflect the views of the IMA.

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CONTACT

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03 IMA | INSTI-NEWS

PRESIDENT’S REPORT

While it seems like only yesterday that I began my term as IMA President, I am very proud of our progress in advancing the strategic goals I shared with you in my first President’s message - Educate, Grow, Lead and Govern.

Over the last year, we worked to ensure our members have access to current best practices and training relevant to our industry. In partnership with the International Property Tax Institute, we offered ten live, online webinars, attended by over 600 professionals from across Canada.

We successfully offered the first year of our Fast Track Designation Program. Overall, we saw 45 new A.I.M.A members and 73 new M.I.M.A members successfully complete their accreditation journey this past year. I know you will all join me in celebrating the success of all the members that took on this professional and personal challenge.

We also offered our third consecutive Virtual Fall Symposium. Attended by over 300 professionals across Canada, the symposium provided a forum for industry leaders from Coast-to-Coast to come together and discuss trends and provide updates on leading industry topics. These ongoing investments in professional development and education, continue to support our members while positioning them as recognized experts in the field of property assessment and related functions.

With the 2023 membership year now underway, I am happy to report that we are continuing to grow our IMA community across Canada, welcoming new members from Nova Scotia, New Brunswick and Alberta, while continuing with high renewal rates from our current members.

The IMA Board and Executive continues to stay focused on our key strategic goals. Earlier this year, we announced our reciprocity agreement with the Alberta Assessors’ Association (AAA) through which our corresponding accreditations are recognized as transferable and transportable. This is a significant step towards standardization of the Assessment profession in Canada. This, and other collaborations with stakeholders across Canada, support the continued growth of our profession.

The IMA Board has also been busy revisiting our governance model with an eye to ensuring that it meets the future needs of the association and our members. Stay tuned for more governance updates, geared towards streamlining work for all our Districts, being announced at our upcoming Annual General Meeting.

I look forward to connecting with members at upcoming District meetings, our Annal General Meeting and, finally, the opportunity to meet in person and collaborate, connect and learn during the IMA’s 64th Annual Conference in Kingston.

I would like to take this opportunity to thank our IMA Board of Directors for their strategic leadership and the IMA office team, whose hard work and dedication continues to ensure our members always come first. It has truly been my honour to work with you over the last year.

Education and professional development have been an important part of my career in assessment, and I have been a proud member of the IMA for many years. I can personally speak to the value this association brings to the assessment and taxation community and it has truly been my privilege to serve our members as President. I encourage you all to take advantage of volunteer opportunities with the IMA this year and help us continue to grow our profession.

Greg Martino, M.I.M.A. IMA President

CASE SUMMARY: APPLICATION OF SECTION

33 OF THE

ASSESSMENT ACT

Amanda Myers, Affiliate, Senior Litigation Advisor, Property Tax - Altus Group Chantelle MacMillan, Affiliate, Director, Litigation - Altus Group

On March 2, 2023, the Divisional Court released the decision of Drewlo Holdings Inc. v Municipal Property Assessment Corporation 2023 ONSC 1466 (“Drewlo”). The main issue before the Court in this matter relates to the scope of powers granted to the Municipal Property Assessment Corporation (“MPAC”) to make changes to the assessment of land during a tax year under Section 33 of the Assessment Act (“Act”).

Background

Drewlo, a property developer in the City of London, constructed three multi-residential towers in 2018 on what was a vacant multi-residential parcel, converting 2 of the 3 towers to condominium units in December of 2018. Upon roll return, MPAC returned the Subject Property on the 2019 Assessment Roll as vacant multi-residential land valued at $2,602,000. On May 8, 2019, MPAC issued an omitted assessment retroactive to January 1, 2019 (“May Omit”) assessing the land and multiresidential towers at a current value of $68,410,000 despite being aware since October 2018 that the apartments would be converted into rental condominiums. Subsequently, on October 8, 2019, MPAC issued the residential assessments pursuant to Section 33 retroactive to January 1, 2019 to capture the two towers converted to condominium units and a second omitted assessment for the third tower assessed at $21,377,500 as a multi-residential building (“October Omit”).

Assessment Appeals

At the Assessment Review Board (“Board”), the Appellant did not dispute the current value of the subject property, but rather argued that MPAC was not permitted to issue the October Omit as Section 33 only allows MPAC to amend the Assessment Roll if there has been an omission from the Assessment Roll. Since MPAC issued the May Omit, even though this omit failed to capture the conversion of a portion of the land to condominiums, there was no omission from the Assessment Roll because the land had been assessed and taxes had been levied.

Section 33 of the Act states:

33 (1) The following rules apply if land liable to assessment has been in whole or in part omitted from the tax roll for the current year or for all or part of either or both of the last two preceding years, and no taxes have been levied for the assessment omitted:

1. The assessment corporation shall make any assessment necessary to correct the omission.

2. If the land is located in a municipality, the clerk of the municipality shall alter the tax roll upon receiving notice of the change, and the municipality shall levy and collect the taxes that would have been payable if the assessment had not been omitted.

3. If the land is located in non-municipal territory, the Minister shall alter the tax roll upon receiving notice of the change, and shall collect the taxes that would have been payable if the assessment had not been omitted. 2006, c. 33, Sched. A, s. 23 (1).

By way of Section 33 of the Act, MPAC is permitted to make any assessment necessary to correct an omission if land liable to assessment has been omitted from the tax roll and no taxes have been levied for the omitted assessment. A two-part legal

test that must be met in order to authorize assessments to be issued under Section 33 of the Act

Ultimately, the Board rejected Drewlo’s arguments and dismissed its appeals. The relevant question to the Board in the assessment appeals was whether the registration of the condominium plan created new “lands” to be added to the Assessment Roll. If no new lands were created, there would not have been an omission on the Assessment Roll after the May Omit was issued, and MPAC would not have the authority to issue the October Omit. However, the Board found that the condominium plans created new lands, and accepted the October Omit.

Leave for Appeal to Divisional Court

Leave to appeal was granted on the basis that there is reason to doubt the correctness of the Board’s decision with respect to the five alleged errors in the Board’s decision:

1. The Board’s interpretation of “land” in subsection 33(1) of the Act to mean the legal description of the land, may have been flawed. The parties made submissions, and the Board focused its interpretation on whether new “lands” were created by making reference to the Condominium Act, which neither party had made reference to. With no ability to make further submissions on the applicability and relevance of the Condominium Act, the procedural fairness of the hearing to the parties was also raised into question before the Divisional Court.

2. Although subsection 33(1) of the Act requires that no taxes be levied on the land, the Board failed to even consider that requirement under the Act in its interpretation of the issue before it.

3. In its disposition, the Board made an error of law by failing to limit the October Omit to correcting the omission from the assessment roll, instead permitting the current value to also be changed. The Divisional Court noted that Section 33 of the Act does not authorize a review of the valuation of the property.

4. The Divisional Court found that the Board failed to consider MPAC’s intentionality in issuing an incorrect May Omit for multi-residential towers despite its knowledge that the property was converted to condominiums leading up to the issuance of the May Omit. While the Divisional Court may agree that MPAC ought not be bound by precedents like that of East of Bay v MPAC, 2011 ONSC 242, the Court was concerned that the Board did not engage in a meaningful analysis of the importance of intentionality when such a question of law before the Board existed.

5. The Board incorrectly applied a timeline of events that contradicts the parties’ Agreed Statement of Facts. The Divisional Court felt that this required, at minimum, some explanation.

The Divisional Court will now assemble a panel of the Court to determine whether the Board was in error in its determination. The issue before the panel is not whether the assessment arrived at with respect to the subject property is correct (the parties agree on current value), but rather the issue before the Court is whether MPAC’s actions to achieve that correct assessment complied with the Act.

THE IMA’S 64TH ANNUAL CONFERENCE, “NAVIGATING THE PRESENT, SHAPING THE FUTURE”

The conference committee has been working diligently to put together an engaging and informative event that will provide attendees with opportunities to learn, network, and share best practices.

The conference programming will feature a wide range of topics related to industry challenges and successes, current rulings in assessment law, Bill 23, artificial intelligence, ethics, and much more! Opening the event will be keynote speaker, chief futurist, and author Nikolas Badminton. His new book ‘Facing Our Futures’ provides executives and organizations with the foundations for futures design and the tools to imagine new futures, create bolder visions, anticipate unforeseen risks, and strengthen strategic planning. We will end day two with an interactive workshop, facilitated by Karey Lunau, Managing Partner at CDG Law, where a panel of experts will discuss and demonstrate settlement conference scenarios and best practices.

The conference will offer attendees the opportunity to earn up to 10.5 Continuing Professional Development credits, and to network with colleagues and industry experts.

To make the conference accessible and convenient for attendees, several local hotels have been booked, all within walking distance of the main conference hotel, The Four Points Sheraton. We highly encourage all attendees to book their room in a conference hotel today to avoid disappointment. More details can be found on the IMA website.

The committee has also planned social events, including a Golf Tournament, Welcome Reception, and President’s Dinner, to provide attendees with opportunities to network and socialize outside of conference sessions.

Overall, the conference committee’s efforts are focused on creating a high-quality event that will provide attendees with valuable insights, new perspectives, and opportunities to reconnect with old friends and colleagues for the first time in three years.

We hope to see many of our members there.

Caterina Chiarandini, M.I.M.A.

Terry Peckham, M.I.M.A. Conference Co-Chairs

64TH ANNUAL CONFERENCE

SCHEDULE - AT- A - GLANCE

Sunday, June 25

Sunday Morning

4:00 - 6:00 PM EST

6:00 - 8:00 PM EST

8:00 - 10:00 PM EST

Monday, June 26

8:30 - 9:00 AM EST

9:00 - 10:00 AM EST

10:00 - 10:15 AM EST

10:15 AM - 12:00 PM EST

Session/Activity

IMA Scholarship Golf Tournament

Registration

Welcome Reception

After Hours Get Together

Welcome and Introductions

Facing Our Futures - Looking to 2030 & Beyond!

Health Break

Challenges and Successes - The Assessment Landscape

Venue/Speakers

Loyalist Golf & Country Club, Kingston, ON

Four Points by Sheraton, Kingston ON Four Points by Sheraton, Kingston ON

Four Points Hospitality Suite

IMA President, Conference Co-Chairs & Industry Partners

Nikolas Badminton, Chief Futurist, Author & Futurist Speaker

Pan-Canadian Industry Panel Featuring Representatives from AAA, AAOM, BC Assessment, MAA, MPAC & PVSC

Chair/Facilitator: Carlos Resendes, M.I.M.A.

12:00 - 1:00 PM EST 1:00 - 2:30 PM EST 2:30 - 2:45 PM EST 2:45 - 5:00 PM EST

Please note attendees can attend two onsite sessions - 1 hour each OR attend the offsite tour. Pre-registration will be required.

Lunch Break

Precedents in Assessment Law

Health Break

Afternoon Workshops

3 onsite options and 1 offsite option

1. Coming from the Low - into the High Rise

2. That’s a Farm? Ontario’s Experience with Controlled Environment Agriculture (CEA)

Panel Discussion: Chair/Facilitator: Frank Shea, Affiliate, Partner, CDG Lawyers

Panel Discussion: Chairs/Facilitators: Amy Raycroft, M.I.M.A. & Laura Muntz, M.I.M.A.

Chair/Facilitator: Dan DeVellis, M.I.M.A

- 9:00 PM EST

Tuesday, June 27

3. Bill 23. The Build More Homes Faster ActA Discussion of Expected Industry Impact

Kingston Penitentiary Tour

President’s Dinner

Welcome Remarks

Artificial Intelligence - Applications, Challenges and Opportunities in Property Assessment

Health Break

Practical Applications of Ethics in Property Valuation (Proof that Ethics

CPS = Professional CPR)

Health Break

Making Settlement Conferences Work for You

Registration Required. More details coming soon.

Renaissance, Kingston, ON

Chairs/Facilitators: Janice Hunter-Desjarlais, M.I.M.A. & Dan DeVellis, M.I.M.A. 8:30 - 8:45 AM EST

IMA President, Conference Co-Chairs & Industry Partners

Panel Discussion featuring Representatives from MAA, MPAC & PVSC

Chair Facilitator: Jerry Grad, P.En g., FRICS

Jeffrey Climans, M.I.M.A., MRICS

Closing Remarks

Panel of Experts discuss and demonstrate Settlement Conference Scenarios & Best Practices. Audience participation is encouraged!

Chair/Facilitator: Karey Lunau, B.A., LL.B., LL.M, C.S. - CDG Law

Greg Martino, M.I.M.A. & Janice HunterDesjarlais, M.I.M.A.

VACANT HOME TAXATION IN ONTARIO

OBSERVATIONS FROM VANCOUVER’S EXPERIENCE

Scott Powell, AMAA, M.I.M.A. Director, Yeoman & Company Paralegal Professional Corporation

In December 2022 Royal Bank (RBC) released a report¹ on housing affordability in Canada. In that report the Aggregate Affordability Measure rose to 62.7% (ownership costs as a percentage of median household income), the worst result in the history of the study. Moreover, the increase in the index rose 14.5 percentage points in just one year, owed in no small part to inflationary pressures and interest rate hikes. This data emphasizes the need for governments, politicians, and industry professionals to address two questions.

1. How do we increase the availability of housing?

2. How do we accelerate development of affordable housing?

As a means of addressing these challenges, in 2017 The City of Vancouver introduced the Empty Homes Tax (EHT) which was intended to “return empty or under-utilized properties to use as long-term rental homes for people who live and work in Vancouver”² and “relieve pressure on Vancouver’s rental housing market, as our city has one of the lowest rental vacancy rates in Canada.¹” A year later, in 2018, the BC Government instituted a Speculation and Vacancy Tax which is similar (though not identical) to Vancouver’s EHT. Six years later Vancouver’s EHT is providing compelling data through its annual reports allowing us to evaluate whether it is achieving the intended targets.

(www.vancouver.ca/home-property-development/why-an-empty-homes-tax.aspx)²

Given the impact of the Vancouver EHT program, it is not surprising that other jurisdictions have looked to this strategy to address both the immediate need for housing, and to collect the revenue necessary to support affordable housing initiatives. In fact, starting in 2023, the City of Toronto and the City of Ottawa are instituting a Vacant Home Tax (VHT) with a similar framework and targets to the BC models.

At a high level the Toronto model operates as follows:

• A property is considered vacant if it is not used as the principal residence by the owner(s) or any permitted occupant(s) or was unoccupied for a total of six months or more during the previous calendar year.

• A Vacant Home Tax of one percent of the Current Value Assessment (CVA) is imposed on all Toronto residences that are declared, deemed, or determined vacant.³

While there is a great deal of similarity between the Vancouver and Toronto models there are two key differences evident on a macro-level:

• The BC/Vancouver model has had the benefit of 6 years to be tested, refined, and indeed expanded (both in the taxation rate and the geographic area in which in applies).

• While both programs leverage the property assessment framework to calculate the tax, the assessment systems in BC and Ontario are vastly different.

Considerations for Ontario VHT Programs

1. Vancouver’s EHT rate will increase to 5% of the assessed value of the property effective 2023 despite a measurable drop in the number of vacant (and taxed) properties. This is substantially higher than the 1% applied in Toronto and a far cry from where the program started in Vancouver back in 2017 (also 1%). Given the success of the program in Vancouver there is good reason to believe that, in future years, Toronto’s VHT may follow a similar tax rate trajectory.

2. The number of jurisdictions in British Columbia’s lower mainland which have (or are on the path towards) implemented a Speculation and Vacancy Tax (the provincial government’s version of Vancouver’s EHT) is growing. In 2023, Speculation and Vacancy Tax was expanded to include Lions Bay and Squamish, as well as North Cowichan, Duncan, Ladysmith, and Lake Cowichan. Ontario homeowners in areas outside Toronto and Ottawa should anticipate an expansion of where the VHT program is applied.

3. The efficiency of tax administration has much to do with the ease by which taxpayers can self-report and the accuracy of the reporting submitted. Additionally, the scenarios which exclude a particular property should be reflective of the intent of the program; taxing only those who should (in the minds of the politicians and administrations) be taxed. Below is a comparison of the exclusions offered in both Toronto and Vancouver:

As Toronto’s VHT evolves it will be important that the exemptions permitted within the program are adjusted as well.

4. Both Vancouver’s EHT and Toronto’s VHT are calculated on the assessment values for each property. However, the assessment frameworks in British Columbia and Ontario differ greatly. In British Columbia, assessments are prepared annually while Ontario is still operating on a 2016 valuation date (7 years ago). As a result, the VHT applied in 2023 for Toronto will not be reflective of current property values. For context – the average single detached house price in Toronto in 2016 was $730,000 while in 2022 it rose to $1.02Million, an increase of 39.7%.⁴ When the next reassessment in Ontario finally occurs the impact of the VHT will be even more significant.

5. Revisions made to assessments in British Columbia are mostly resolved in advance of the EHT being calculated. In Ontario, revisions occur throughout the year (and for previous years), and the assessment appeal system takes far longer to resolve. As a result, the VHT in Toronto will be levied on assessments which are not as solidified as in British Columbia. It will be important to have a mechanism to ensuring the accuracy of past VHT liabilities considering future assessment changes.

The Vacancy/Empty Home Tax is not a silver bullet to solve the housing problems that major cities are experiencing in Canada. However, it is one more tool in the toolbox. There is strong evidence from the BC/Vancouver model that this tax system can be effective. However, time will tell if the Ontario system has implemented the learnings from British Columbia effectively and if the assessment framework is robust enough to support it. As Toronto’s VHT evolves it will be important that the exemptions permitted within the program are adjusted as well.

1. https://thoughtleadership.rbc.com/homebuyer-blues-dreadful-affordability-gets-worse-in-canada/

2. www.vancouver.ca/home-property-development/why-an-empty-homes-tax.aspx

3. https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/

4. https://creastats.crea.ca/mls/treb-median-price

MEMBERSHIP ELEVATIONS

AFFILIATE MEMBERS

NAME COMPANY

Pamod Alawattage

Jennifer Anderson

Kim Ashizawa

Beverly Buckland

Teresa Bufardeci

Jeff Caddell

John Canning

Lesha Chintaram

Colin Curry

Bhoomika Dave

Matthew Dell’Orso

Brigitte Doucet

Dante Felicetti

Nicholas Gaulin

Rob Hartmier

Chentao Hu

Jeanie Hynes

Matthew Jacob

Ethan Jones

Lisa Lee

Katrina Lluisma

Kenneth Meneses

Richard Minster

Katelyn Morrow

Jonathan Morse

Liam O’Halloran

Michelle Pacquette

Jean-Philippe Paquette

Michael Penny

Tanya Plowman

David Rose

Dan Rosman

Vardeep Shina

Jared Steege

Andrea Steenburgh

Tyler Swabey

Adam Travis

Aliyah Tudino

Tugba Turedi

Jeffrey Watt

Michael Whipp

Lannisha Williams

MPAC Toronto

City of Brampton

Property Valuation Services Corporation

Property Valuation Services Corporation

MPAC Toronto

Property Valuation Services Corporation

MPAC Kingston

MPAC Mississauga

Property Valuation Services Corporation

City of Kitchener

City of Vaughan

SmartCentres

DMA

MPAC Cornwall

Property Valuation Services Corporation

Property Valuation Services Corporation

Property Valuation Services Corporation

MPAC Hamilton

MPAC London

MPAC Richmond Hill

City of Saskatoon

MPAC Toronto

Minsterlaw

MPAC Barrie

Property Valuation Services Corporation

Property Valuation Services Corporation

MPAC Thunder Bay

MPAC Ottawa

Property Valuation Services Corporation

MAA Gander

MPAC Barrie

MinsterLaw

House Inc Appraisal Services

MPAC Ottawa

City of Belleville

Artemis Canada

Property Valuation Services Corporation

MPAC Sarnia

City of London

MPAC Barrie

MPAC Ottawa

MPAC Pickering

A.I.M.A. MEMBERS

NAME COMPANY

Micheal Alfieri

Ashley Alladin

Jaret Clugston

Matthew Cody

Nicholas Gaulin

Rafik Green

Andrew Heipel

Barbara Klein

Sara Lynch

Julie Omoregie

Nigel Spettigue

Geoffrey Terpstra

Matthew Vandergaag

Veronica Wellman

MPAC Hamilton

MPAC Pickering

MPAC Thunder Bay

MPAC Kitchener

MPAC Cornwall

MPAC Toronto

MPAC Kitchener

City of Sault Ste. Marie

MPAC Owen Sound

MPAC Mississauga

MPAC Sarnia

MPAC Thunder Bay

MPAC London

MPAC Ottawa

M.I.M.A. MEMBERS

NAME COMPANY

Nicole Atherton

Darren Carter

William Cottingham

Steve Filiantris

Daniel Humber

Sora Kim

Sarah Lake Mitchell

Krista Longman

Richard Mauntah

Josh Morgan

Vince Pascuzzi

Tanya Plowman

Andrew Posteraro

Scott Raymond

Andrew Rodgers

Chris Sitlington

Eric Smithson

Devin Wegner

MPAC Mississauga

MPAC Barrie

MPAC Mississauga

MPAC Toronto

MPAC Ottawa

MPAC Ottawa

MPAC Toronto

City of St. John’s

MPAC Toronto

MPAC London

MPAC Hamilton

Municipal Assessment Agency

MPAC Pickering

MPAC Toronto

City of St. John’s

MPAC Mississauga

MPAC Ottawa

Suncor

THE IMA WOULD LIKE TO CONGRATULATE THE RECENTLY ELEVATED AND NEWLY APPOINTED MEMBERS!

JURISDICTIONAL UPDATES

MANITOBA

Lloyd Funk

Director, Provincial Municipal Assessor, Municipal Relations - Assessment Services, Government of Manitoba

Manitoba Property Assessment Services Branch (PSAB) recently delivered 2023 assessment values to 136 municipalities and areas under the jurisdiction of Indigenous Reconciliation and Northern Relations. Assessments were updated from an April 1, 2018 reference date to reflect market values as of April 1, 2021 and will form the basis for property taxation in 2023 and 2024. Assessments for the over 442,000 properties outside the City of Winnipeg increased from $104 to $115 billion in market value. Manitoba has a two-year cycle and the next reassessment is scheduled for 2025.

PSAB is finalizing its annual winter desktop review program for over 26,000 properties through utilization of oblique, high-resolution imagery. More than 135,000 properties have been reviewed through the program during the past eight years, ensuring accurate property assessments are delivered to municipalities and Manitobans are provided with a fair and equitable property assessment and taxation system.

Manitoba property owners now have the opportunity to access their property assessment notices through the MyPropertyMB website portal. Owners that sign up for eNotices through the portal will receive electronic notification that a new assessment notice has been issued for their property and is available in their web account rather than receiving a notice through traditional mail delivery. The initiative is one of several innovation initiatives PSAB is embarking on to modernize the property assessment system in Manitoba.

ONTARIO

Greg Martino, M.I.M.A.

Vice-President and Chief Valuation & Standards Officer at MPAC

This year, the Municipal Property Assessment Corporation (MPAC) continues its work to maintain Ontario’s property database, including efforts in support of data collection and market analysis to ensure we have a strong understanding of how property sectors are evolving. We are also providing additional opportunities for engagement and information exchange with industry stakeholders. Earlier this year we hosted a virtual Industry Advisory Group (IAG) meeting to share updates on a variety of initiatives, including plans to re-engage with property sector subcommittees as a means to exchange information and ideas on topics of common interest.

Ontario’s Assessment Base

Ontario’s property assessment base continues to grow. In 2022, MPAC:

• Added more than $37.8 billion in new assessment

• Assessed more than 48,000 new residential homes with an assessed value of close to $24.7 billion

• Mailed more than 770,000 year-end Property Assessment Notices to property owners across Ontario, reflecting changes in assessment

Capturing Property Changes & Collecting Data

In April, MPAC also commenced the mailing of Property Assessment Change Notices to property owners. Property Assessment Change Notices are mailed to property owners throughout the year to reflect changes to a property, such as a new addition or a change in classification. These efforts also support the currency of our property assessment database.

Another key initiative is MPAC’s Assessment Information Request Program. The most significant campaign for MPAC is our annual Property Income and Expense Return (PIER) sent to more than 35,000 business properties.

Having complete, accurate and up to date market and property data is critical to MPAC’s work and our annual collection program allows us to collect rental, income and expense information from income-generating properties that will support our ongoing analysis of the market. This year’s campaign begins May 12, and property owners who receive a PIER request letter from MPAC are required to submit their information by July 14. More information is available at mpac.ca/PIER.

Industry Engagement

Strengthening our stakeholder relationships and establishing clear channels for collaboration is important for MPAC. We are undertaking proactive outreach this year through the formation of industry subcommittees for various property sectors to discuss methodology, assessment changes as a result of an appeal or legislative change, to collect information or insights or to improve programs or services, support quality assessments to ensure we’re best meeting stakeholder needs. We are also looking to hold an Industry Stakeholder Forum later this year, to provide an opportunity for our industry stakeholders to meet face to face with our assessors.

If you have question about our industry engagement this year or would like to express your interest to get involved, please reach out to MPAC through industry@mpac.ca

FAST TRACK DESIGNATION PROGRAM

Last year the IMA proudly introduced the Fast Track Designation Program (FTDP). An intensive route to designation where members can get their A.I.M.A. Accreditation or M.I.M.A. Designation in as little as 9 months!

This program requires discipline, routine and a strong knowledge and understanding of the fundamentals of assessment to be successful.

We caught up with David Bressi an A.I.M.A. Accredited member who completed the program to see what they had to say about the experience.

Tell us your name and job title.

David Bressi, I work for the Municipal Property Assessment Corporation as a Property Valuation Analyst

Why did you apply for the FTDP?

I applied for the FTDP as I am very busy with work and other life needs and I thought the FTDP would be an excellent way to obtain my designation in a short time while still being able to give the rest of my life needs attention.

How much discipline did you need to complete the program?

A lot of discipline is needed to complete the program. As soon as I obtained the course material, I had mapped out what lessons and materials I would be getting to each week until the exam. This helped me immensely, but I needed to make sure I was stern with those deadlines and not make excuses or procrastinate. The final exam comes quicker than you expect.

Do you have any advice for candidates this year?

My advice would be to read the materials more than once, create practice tests and set deadlines for yourself to complete lessons. This is what I found to be the most effective way in completing the program without any stress.

How has attaining this accreditation positively impacted your career? Obtaining an accreditation opens doors to various career improvements. With a designation companies tend to look at you as a more qualified individual.

Anything else you’d like to share?

The last thing I will share is that I truly believe everyone should do the FTDP. It’s a great program initiated by the IMA that gives the student ample time to study the materials and prepare for the exam. It is a great resource for those that want to obtain a designation. I will be also doing the FTDP for the M.I.M.A. as well.

We also caught up with Elva Yu an M.I.M.A. Designated member to see what they had to say about their route to the M.I.M.A. Designation

Tell us your name and job title.

My name is Elva Yu. I am currently working as a Property Valuation Analyst at MPAC.

Why did you apply for the FTDP?

I have been working toward the M.I.M.A. designation for a couple of years. I used to do averagely one course per year. The FTDP provided me with the opportunity to complete the rest of the courses at a much faster pace and ultimately attain the M.I.M.A. accreditation within a year.

How much discipline did you need to complete the program?

The FTDP is an intensive program which demands a high level of discipline and focus. I had to find a balance between study, work and life. It required hard work at my own personal time, i.e., time after work as well as weekends.

I had to be fully committed to my study and prioritize it above other activities. During study, I tried to avoid distractions, stay organized, and manage my time effectively to ensure all the required courses be completed within the timeframe.

Do you have any advice for candidates this year?

Start early and be prepared: The FTDP requires a significant investment of time and effort. Develop a study schedule that covers all the required courses and allows enough time for review. Make sure to stay on track with your studies and make some progress each day.

Stay motivated and focused: Set clear goals and objectives, celebrate small wins along the way, and stay connected with others in the program. Always remember why you started the program in the first place.

Seek guidance and support: Don’t be afraid to seek guidance and support from your instructors, mentors, or peers. There are many resources available to support you throughout the process. Reach out to others for help when you need it, and don’t be afraid to ask questions or seek clarification on any contents that you find challenging.

How has attaining this accreditation positively impacted your career?

I found the program to be incredibly rewarding. This designation is highly recognized by the industry, and it helps me to stand out from other professionals in the field. It has boosted my career prospects, increased my credibility, and provided me with a wealth of knowledge and skills that I can apply to my job as a property valuation analyst.

Anything else you’d like to share?

The FTDP requires hard work, commitment, perseverance and dedication, but it’s all worthwhile when you finally accomplish the goal. I’m very grateful for the opportunity to participate in the program and would highly recommend it to others pursuing their designations.

There have been many successful Fast Track Designation Program candidates, although we couldn’t catch up with them all, we’ve been sharing their quotes via our LinkedIn page. Congratulations to all the members listed on the next page on this amazing personal and professional accomplishment.

FAST TRACK DESIGNATION PROGRAM MEMBERSHIP ELEVATIONS

A.I.M.A. MEMBERS

NAME COMPANY

Dave Legge

Sophia Peerzada

MPAC London

MPAC London

M.I.M.A. MEMBERS

NAME COMPANY

Tomas Baca

Shen Bai

Rebecca Bennett

Marsha Blakely

Becky Chong

Tania Cohen

Emily Corsi

Maria Covello

Mia Cyr

Alan Darchiev

Laurel Dewinter

Bradley Duce

Eddy Fayad

Chloe Ferraro

Jake Gofton

Crystal Hodgson

Jason Holmes

Mark Hotte

Tina Jameson

Richard John

Dong-hyuk Kang

MPAC Toronto

City of Ottawa

MPAC Hamilton

MPAC Kingston

MPAC Richmond Hill

MPAC Mississauga

MPAC Kingston

MPAC Mississauga

MPAC Timmins

MPAC Toronto

MPAC Mississauga

MPAC Toronto

MPAC London

MPAC Kitchener

MPAC Kitchener

First Capital REIT

MPAC Windsor

MPAC Ottawa

MPAC Pembroke

MPAC Pickering

MPAC Toronto

NAME COMPANY

Chris Kordos

Leslie Lake

James McAdam

Matthew McIntyre

Shaun McLaren

Chris Miller

Laura Muntz

Paul Nedinis

Jim Rilling

Matthew Sauder

Paul Schmitchen

Charlotte Schroeder

Alim Shariff

Veronica Sulea

Joseph Taccone

Roland Urban

Sheryl Walt

Jennifer Welton

Tammy Woods

Elva Yu

MPAC Ottawa

MPAC Kitchener

MPAC Kitchener

MPAC Ottawa

MPAC Kitchener

MPAC Barrie

MPAC Ottawa

MPAC Toronto

MPAC Mississauga

MPAC Peterborough

MPAC Mississauga

MPAC Pembroke

MPAC Mississauga

MPAC Toronto

MPAC Pickering

MPAC Mississauga

MPAC Pickering

MPAC Trenton

MPAC Barrie

MPAC Richmond Hill

THE IMA WOULD LIKE TO CONGRATULATE THE RECENTLY ELEVATED AND NEWLY APPOINTED MEMBERS!

TAKE 5 WITH THE IMA

Andrew Posteraro, M.I.M.A.

1 2 3 4 5

Where do you work and what is your current role?

I am a Property Valuation Specialist with the Municipal Property Assessment Corporation (MPAC) working out of the Durham Assessment Office. My main responsibility is to ensure that a number of different property types (developmental land, commercial, and industrial) are accurately assessed and classified.

What prompted you to get involved with the IMA?

At the beginning of my career, I did not have a whole lot of past experience in the world of property assessment and appraisal, but I quickly learned that the IMA was a great resource to tap into. From their educational offerings to their various informative publications and webinars, the IMA has always been there for support.

How has being a member positively impacted your career?

The educational component that the IMA provides has positively impacted my career in many ways. The MIMA designation has opened the doors for career advancement, and the knowledge learned through the various courses has prepared me to be the best mentor I can for others.

What would you tell your younger self just starting in the industry?

I would tell my younger self and others who are just starting in this industry to find someone that they look up to at their place of employment and try to gain as much knowledge as they can from them. Having a good mentor is crucial and is the best way to obtain knowledge in this industry.

What are your goals for the future?

I have always enjoyed the teaching/mentoring aspect of my current role and my number one goal is to be the best mentor I can be for others. I was fortunate to have an excellent mentor early on, and I try and pass that on every day to others.

IMA ANNOUNCEMENTS

ANNUAL GENERAL MEETING | MONDAY, JUNE 5, 2023

The IMA will host its Annual General Meeting (AGM) of Members on Monday, June 5th, 2023. Save the Date in your calendar and be sure to join us as we welcome in the next Executive Committee for the 2023-24 cycle.

THE IMA AND THE AAA: A COLLECTIVE VISION

The IMA and the Alberta Assessors’ Association proudly announce that the IMA’s “M.I.M.A.” Accreditation and the AAA’s “AMAA” Designation are transferable and transportable. With the intent to unify the standards of practice to support the continued growth of our profession, the IMA and the Alberta Assessors’ Association (AAA), representing the two largest professional certifying bodies for professional assessors in Canada, signed a Memorandum of Understanding (MOU) in 2021.

The MOU represents a collective vision which aligns with the goals and core values of our individual organizations and recognizes the work that both the Institute of Municipal Assessors and the Alberta Assessors’ Association have put in to support their members. To learn more, visit our website

CHALLENGES WITH SALES ANALYSIS - ADJUSTMENTS; MULTI-PROPERTY TRANSACTIONS; GOVERNMENT SALES

Market transactions play a critical role in the valuation process. In difficult economic times when sale volumes are low the valuator is often required to look at more non-typical sale transactions and transactions that may require adjustments before being considered in any analysis. This webinar will look at different types of transactions, breakdown the key factors to help understand the sale and the important questions the valuator should be asking to better understand the conditions influencing the sale. The attendees will also gain insight into when adjustments to sale prices are warranted and how adjustments can be derived.

Date: June 6, 2023

Time: 11:30 AM - 1:00 PM (EST)

CPD Credits: 1.5 Learning

Costs: $65 (Members) | $80 + HST (Non-Members)

Register Now: Member | Non-Member

Upcoming IMA/IPTI Webinars

IMA SPONSORS

THANK YOU TO THE FOLLOWING SPONSORS, WHOSE GENEROUS DONATIONS SUPPORTED THE IMA SCHOLARSHIP FUND

DIAMOND GOLD BRONZE

SUPPORT THE NEXT GENERATION OF PROPERTY ASSESSMENT PROFESSIONALS WITH A TAX - DEDUCTIBLE DONATION TO THE IMA SCHOLARSHIP FUND. LEARN MORE ABOUT THE AWARDS AND VIEW PAST RECIPIENTS HERE