Building and Land value

[sandra]

Hi all, my friend decide to rent out her principle home, and I try to do income tax for her this year. So when I set up an investment property T776, there is a question about how much value of land and how much is the value of building. Do you know how to split them ? It is a town house in NE of Calgary.
Another question is, can I take the city assessment this year as a value of the house or I need appraiser?
Thanks
Sandra

 

[Thomas Beyer]

Estimate.

Heuristics are required as an astute investor as much of the world is imprecise.

In some cities land is 95% of the property value, in others 25%, such as NE Calgary.


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