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Updated almost 6 years ago,
Canadians - how do you divide land vs building portion?
Canadians, especially those in Ottawa or anyone who gets property assessments through MPAC- how do you divide the value of your property between land and building for tax purposes? I looked at my property value assessment at aboutmyproperty.ca and can't find any split between land and building portion of the assessed value. The assessments I got for my properties back in the US would have a land and/or building portion, which is how most people would split their property value for the purpose of depreciation. Is there some section I'm missing? Or are people using other methods for getting land value for the purpose of calculating depreciable basis?