Taxable= Taxable Assessed Value

The assessed value of the land parcel after the application of the appropriate percentage of value set out in The Rural Municipality Assessment and Taxation Regulations. Note that assessments are calculated by the application of the percentage of value. Without the application of the appropriate percentages of value as outlined in The Assessment and Taxation Regulations the value reported is fair value. As a majority of the acres in this parcel are arable land, the percentage of value is 0.55. The assessed value after the application of the percentage of value is not rounded.

 

Fair Value x Percentage of Value = Assessed Value
$29,800
x 0.55
= $16,390
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