The Municipal Property Assessment Corporation is preparing to update the assessed value of every property in Ontario in 2020.
The new property values will be based on the legislated valuation date of Jan. 1, 2019 and will be in place for the 2021 to 2024 tax years.
City Hall will use those updated values to set property taxes.
Locally, MPAC will get started this fall by engaging with large and special purpose property owners and requesting up-to-date information to help set property valuations.
The list covers 10 large industrial properties in Sarnia, including Suncor Energy, Imperial Oil, Arlanxeo and Cabot Carbon.
The last province-wide assessment update took place in 2016, when property values were based on the date of Jan. 1, 2016.