{"id":208,"date":"2007-10-04T07:46:48","date_gmt":"2007-10-04T07:46:48","guid":{"rendered":"http:\/\/www.montreal-realestate.ca\/english\/2007\/10\/the-assessment-roll-and-property-values\/"},"modified":"2019-02-28T21:22:04","modified_gmt":"2019-02-28T21:22:04","slug":"the-assessment-roll-and-property-values","status":"publish","type":"post","link":"https:\/\/www.montreal-realestate.ca\/english\/the-assessment-roll-and-property-values\/","title":{"rendered":"The Assessment Roll and Property Values"},"content":{"rendered":"<p>The value of your property reflects its market value on July 1 of the second fiscal year preceding the first for which it is conceived.<!--more--><\/p>\n<table>\n<tbody>\n<tr>\n<td>The value of your property reflects its market value on July 1 of the second fiscal year preceding the first for which it is conceived.<strong>Example:<\/strong><br \/>\nRoll 2004 reflects the July 1, 2002 market<br \/>\nRoll 2007 reflects the July 1, 2005 marketThe market value is defined as the most probable selling price in a free and open market (Art.43 L.F.M.).The appraiser can use three methods: the comparison, the cost and the income.<strong>The comparison approach<\/strong><br \/>\nThis approach is used to determine the most probable selling price of a given property by comparing it to similar properties which have been sold.<strong>The cost approach<\/strong><br \/>\nThis approach is used to determine the most probable selling price of a given property by adding a property&#8217;s land value to the depreciated cost of the building. This cost is obtained by subtracting depreciation from the current replacement cost new which includes labour and materials.<strong>The income approach<\/strong><br \/>\nThis approach is used to determine the most probable selling price of a given property by capitalizing its net operating income at a rate stemming from similar type properties which have been sold.<\/p>\n<p><strong>Changes to your property<\/strong><br \/>\nSome renovations or improvements will not necessarily increase the value of your property by an amount equal to their cost. For instance, spending $10,000 to renovate your basement will not automatically result in a $10,000 increase in the value of your property. Regular maintenance work such as replacing the roof, repaving the driveway, applying a few coats of paint or changing a carpet does not increase the value of your property.<\/td>\n<td valign=\"top\"><!--adsense#160x600--><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>I wrote this article because I love real estate. If you would you like me to work for you, call me, Jennifer Lynn Walker <a href=\"tel:514-402-8444\">514-402-8444<\/a> or <a href=\"mailto:jenn@montreal-realestate.ca\"><u>EMAIL ME<\/u><\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The value of your property reflects its market value on July 1 of the second fiscal year preceding the first for which it is conceived.<\/p>\n","protected":false},"author":2,"featured_media":991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-investing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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