As Thunder Bay homeowners rip open letters from the province’s Municipal Property Assessment Corporation, many can expect to find an increase in the value of their property.
On average, the increase will be more than seven per cent, said Darlene Morgan, a spokesperson with MPAC.
She said a revamped online tool on the MPAC website lets homeowners check the accuracy of their assessment.
"It automatically gives similar properties within your neighbourhood so they can view that they can see the sale price, the square footage," Morgan said.
Morgan said the increased assessments reflect the local real estate market.
In contrast to Thunder Bay, assessed property values in Red Rock, Nipigon, Schreiber, Terrace Bay and Greenstone have all declined.
Higher assessments usually result in higher property taxes. But the impact of the assessment on tax bills won’t be known until next year when city council sets tax rates.