Residential Property Values
Assessment value of residential property, value
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.
The data for this variable are reported using the following measurements:
- Canadian dollar at current prices
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