Property taxes are based on your home’s value. What you might not know is that an increase in your home’s value doesn’t necessarily mean your taxes will go up. This video explains how your property taxes are calculated based on the assessed value of your home.
Your 2016 MPAC Notice reflects the assessed value and classification of your property as of January 1, 2016 and this will be used as the basis for calculating your 2024 property taxes.https://www.mpac.ca/en/UnderstandingYourAssessment/PropertyAssessmentNotice
Here are some great resources: