deemed disposition of rental building

Question

345 viewsMay 18, 2023Real Estate Tax

0

BC (anonymous) Posted April 30, 2023 MadanCA Team approved May 18, 2023

Hi Allan,
I have a rental property and I claimed CCA. How could I find out the proceeds of the building value? Is it normal to have building value significantly increased per the city assessment? What is the best way to get the current building value? Thanks.

1 Answer

score 0 · Answer 1 · 2023-05-18T14:27:12+00:00

Hire a certified appraiser to determine the breakdown of the selling price between land and building. Or you can ask this information from your realtor. The City Assessment is not reflective of fair market value, and should not be used.

deemed disposition of rental building

1 Answer

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