Property Assessment

Municipal property assessments are primarily used to fund the two major components of the local area, school boards and municipal organizations.

A summary of the inventory of buildings located in the territory of a municipality and evaluated on the same basis and on the same date. It’s called the assessment roll, and it’s done every 3 years.

The legislation requires property assessments to be based on the actual value of the assessed properties. This real value represents the most likely price that can be paid on a OTC sale under certain conditions.The securities that are recorded in the role take into account real estate market conditions since July 1st of the year preceding its deposit. For a new assessment roll, values set therein were established 18 months earlier.

Property taxes help maintain and improve the quality of life we enjoy through services such as snow removal, sports and recreation facilities, waste collection, policing, public transit, water treatment, etc. This tax is therefore based on the information contained in the property assessment roll.

Regarding the values indicated in the municipal roll, they are based on data collection taking into account that there is a time constraint and many data to be processed.

You should be careful when using the municipal value.It could be used as a benchmark, but in many cases cannot be fully representative of the market value of the property.

For this reason, we suggest that you use a licensed private appraiser or a real estate broker.