F-2.1, r. 8 - Regulation respecting the method of assessment of single-use immovables of an industrial or institutional nature

Updated to 12 December 2023

This document has official status.

chapter F-2.1, r. 8

Regulation respecting the method of assessment of single-use immovables of an industrial or institutional nature

Act respecting municipal taxation

(chapter F-2.1, s. 262).

1. For the purposes of this Regulation, “single-use immovable of an industrial or institutional nature” means a unit of assessment which, on the date provided for in the first paragraph of section 46 of the Act respecting municipal taxation (chapter F-2.1), meets the following conditions:

(1)  the value, entered on the roll in force, of the structures which are part of the immovable is $5,000,000 or more;

(2)  it is not totally disused;

(3)  it is not likely to be sold by agreement;

(4)  the structures which are part of it are specifically designed and laid out for carrying on a predominant activity of an industrial or institutional nature; and

(5)  the structures which are part of it may not be economically converted for the purposes of carrying on an activity of another type.

An industrial production activity is of an industrial nature.

The following activity is of an institutional nature: an activity for which is intended an immovable referred to in any of paragraphs 1, 1.1 and 13 to 17 of section 204 of the Act and which is neither of a residential, administrative or commercial nature nor a storage activity.

O.C. 1342-98, s. 1.

2. For the purposes of establishing the actual value of a single-use immovable of an industrial or institutional nature, a particular application of the cost approach is used which consists in establishing, in accordance with section 3, the cost as new of the structures, in subtracting from that cost any depreciation, particularly the one provided for in section 4 and in adding to the difference obtained the value of the lot established according to the usual rules.

O.C. 1342-98, s. 2.

3. The cost as new of the structures is established by taking into account their exact outside dimensions, as they exist on the date applicable under the first or second paragraph of section 46 of the Act, as the case may be, and the materials and techniques currently used on that date to build such structures.

O.C. 1342-98, s. 3.

4. Depreciation shall be subtracted in order to take into account, where applicable, the significant difference existing between:

(1)  the interior space that would be available in a structure having exactly the same outside dimensions than the structure the value of which is to be established, as they exist on the date applicable under the first or second paragraph of section 46 of the Act, as the case may be, if the materials and techniques currently used on that date had been used for building such a structure;

(2)  the interior space actually available on the same date, whether used or not, in the structure the value of which is to be established.

O.C. 1342-98, s. 4.

5. This Regulation applies for the purposes of establishing the value of any single-use immovable of an industrial or institutional nature that must be entered on a real estate assessment roll coming into force after 31 December 2000.

O.C. 1342-98, s. 5.

6. (Omitted).

O.C. 1342-98, s. 6.

REFERENCES

O.C. 1342-98, 1998 G.O. 2, 4369