Value of residential property

Definition

Value refers to the assessed value of the property for the purposes of determining property taxes. It is important to note that the assessed value does not necessarily represent the market value. Given different provinces and territories have their own assessment periods and durations of the valuation roll, it is difficult to make accurate comparisons of similar properties from one province or territory to another. For properties that are being utilized for both residential and non-residential purposes, only the residential partitions' value has been taken into account.

The assessed values represented for the CMA of Vancouver are as of the latest assessment date of July 1st, 2016, while the assessed values represented for the CMA of Toronto are as of January 1st, 2016.

Residential property refers to all land and structures intended for private dwelling purposes, whether on a permanent or a temporary basis. A residential property may have more than one owner.

Measurements

  • Canadian dollar at current prices May 12, 2003 to current

Classifications

Relation to previous version

  • Value of residential property January 01, 2017 to current

    This is the current version.

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