Assessment value of residential property

Definition

Assessment 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 that 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 portion's value has been taken into account.

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 by square foot May 01, 2019 to current
• Canadian dollar at 2016 constant prices January 30, 2018 to current
• Canadian dollar at 2017 constant prices January 01, 2018 to current
• Canadian dollar at current prices May 12, 2003 to current

Classifications

• Classification of assessment value range December 18, 2017 to current

Relation to previous version

• Assessment value of residential property January 01, 2018 to current

  This is the current version.