LONDON, ON--(Marketwired - March 03, 2016) - iLOOKABOUT Corp. (
The prototype of the new channel was first unveiled at the Association of Municipalities of Ontario Conference in Niagara Falls in August 2015. The collection of feedback resulted in enhancements and new features which will be released to municipalities beginning in the second quarter of 2016. The multi-year agreement extends the Company's relationship with MPAC as the operating arm of the new service. Financial details were not disclosed.
As the largest assessment jurisdiction in North America, MPAC is responsible for accurately assessing and classifying more than five million properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario. Having developed and deployed some of the most up-to-date technology and tools available in the property assessment industry, MPAC is uniquely positioned to provide municipal stakeholders with an unprecedented toolkit for access and analysis of assessment data. With more than two billion pieces of data in the MPAC property database, which is updated regularly using a variety of sources, an advanced yet intuitive toolkit is imperative to the delivery and understanding of the assessment roll.
"We're exceptionally pleased to have extended our 'Software as a Service' solution to deliver applications and data to help facilitate and support MPAC's requirements," stated Jeff Young, iLOOKABOUT's President and CEO. He continued by stating, "We are extremely appreciative of MPAC's expression of confidence in our technology and people and look forward to extending our long relationship."
iLOOKABOUT is a data analytics and visual intelligence company focused on real property, serving primarily the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT's origins are with its StreetScape imagery and web-based geographic information system ("GIS") application, GeoViewPort™, which federates property related data and enables desktop review of properties. iLOOKABOUT has integrated powerful data analytics and workflow management applications into GeoViewPort to create service offerings uniquely customized for its clients. These new offerings include Real Property Tax Analytics ("RPTA"), Realty Tax Management ("RTM") and Confirm My Assessment. To augment the Company's technology based offerings, real estate consulting services are also now provided, with a focus on the Property Tax and Valuation sectors.
Headquartered in London, Ontario, Canada, iLOOKABOUT's common shares are traded on the TSX Venture Exchange under the symbol ILA.
About Municipal Property Assessment Corporation
The Municipal Property Assessment Corporation (MPAC) -- www.mpac.ca -- is an independent, not-for-profit corporation, responsible for assessing and classifying more than five million properties in Ontario in compliance with the Assessment Act established by the Government of Ontario. MPAC is funded by all Ontario municipalities.
Every four years MPAC conducts a province-wide assessment update to determine the Current Value Assessment for all properties which municipalities use to set property tax rates. The next province-wide Assessment Update will take place in 2016 with a January 1, 2016 valuation date.
MPAC also provides products and services such as propertyline™, a secure e-commerce solution for property information, to a number of sectors including banks, mortgage firms and other assessment jurisdictions.
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