It's no secret the real estate market in Toronto has been scorching hot for the last number of years.

That means your property is worth more.

On average 5.5% more in 2013.

The municipal property assessment corporation says over the next four years, your home will be valued nearly 23 percent more than it was in 2008... the last time an assessment was done.

That would sound like good news, wouldn't it?

Not so much. That's what your property taxes are based on.

Joe Regina an account manager with MPAC says you could be in for some GOOD news if your property is assessed lower than the city-wide average, your taxes could actually decrease.

You can always check to make sure everything is correct, once you get that assessment,  you can go to the mpac website by clicking here.