Hi

I am in the process of the dreaded taxes and the accountant has asked for the land value of the property that we rent out.

How do I go about finding that? I live in Calgary and the place in question is in one of the 15 year old communities in the NW. I am fully aware of the city property tax assessment site, but it only lists the property value, which essentially has house and land embedded into the valuation. I am just looking for the land value alone.


Any ideas?

Thanks

Short of getting an appraisal your best bet is to get a copy of the 2011 property tax notice. This will show the land value and building value. At least it does in BC.

I would also question why your accountant wants this information. I suspect it is so they can work out the tax cost of the building to apply a capital costs allowance (tax equivalent to depreciation) to the building.

Discuss this with your accountant. Unless this is a long-term investment the tax savings now may not compensate for the tax on the capital costs allowance recapture when you sell.