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Career Path

Career Path. Mortgage Company Residential and Multi-family Fee Appraisal Residential, Multi-family, Commercial Assessment Business tax, Industrial, Shopping Centres Audit of Assessors Regulated Properties. Regulated Assessment Policy. Assessment in Alberta.

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Career Path

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  1. Career Path • Mortgage Company • Residential and Multi-family • Fee Appraisal • Residential, Multi-family, Commercial • Assessment • Business tax, Industrial, Shopping Centres • Audit of Assessors • Regulated Properties

  2. Regulated Assessment Policy

  3. Assessment in Alberta • All residential and non-residential properties are assessed at market value except for • Wells, pipelines, electric power generation, transmission, distribution, telecommunications and cable • Machinery and equipment • Farm land • Railway • The exceptions are called “regulated property”

  4. Regulated Assessment Policy The Regulated Assessment Policy Unit’s current mandate is to develop and maintain policy, procedures, rates and depreciation processes so regulated property assessments reflect current construction costs, standards and techniques wherever possible.

  5. Minister’s Guidelines The procedures, rates and depreciation processes are compiled in the Minister’s Guidelines

  6. Minister’s Guidelines • Current base year 2005 • The Minister's Guidelines are equivalent to a cost manual. • The foundation for the cost manual is the Construction Cost Reporting Guide (CCRG). • The CCRG is used to determine what costs are included and excluded in the calculations of base costs for regulated industrial property.

  7. Rate Review Process • Every three years we review the policies, procedures and rates

  8. Rate Review Process • RFP’s issued for typical construction costs and depreciation for Regulated Property. • Typical construction cost scenarios and depreciation from contracted engineering firms/property experts. (eg. Appraisers develop well site values)

  9. Rate Review Process • The assessment models are based on a defined configuration for each property type using replacement cost.

  10. Why use assessment models • Not feasible to individually cost each regulated property type. • Some configurations unique to a company. • Some to old that accurate up-to-date costs cannot be found. • Costing individually would not substantially improve the qualityof the resulting assessments.

  11. Annual Modifiers (AYMs) • Annually, our consulting engineers re-cost the bundle of goods to determine the change in the cost for that year (AYMs). • Many factors contribute to the yearly cost change. • Material • Labour • Equipment • Supply and demand

  12. Depreciation • Depreciation • Electric Power Transmission/Distribution • Company specific as approved by EUB (phased in over 3 years) • Telecommunications including Cable TV • Average age/age Life of telecom property in Alberta (phased in over 2 years) 0.65-0.60 Wells and Pipeline properties • Based on average age/age life of wells in Alberta - 0.67

  13. Stakeholder consultation • Stakeholder consultation • review the contractors submissions • provide input • review impacts of proposed rates and depreciation

  14. Recommendations Report and recommendations sent to Minister

  15. Future?

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