career path
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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. - PowerPoint PPT PresentationTRANSCRIPT
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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
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Regulated Assessment Policy
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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”
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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.
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Minister’s Guidelines
The procedures, rates and depreciation
processes are compiled in the Minister’s
Guidelines
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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.
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Rate Review Process
Every three years we review the policies, procedures and rates
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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)
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Rate Review Process
The assessment models are based on a defined configuration for each property type using replacement cost.
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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 quality of the resulting assessments.
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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
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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
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Stakeholder consultation
Stakeholder consultationStakeholder consultation review the contractors submissionsreview the contractors submissions provide inputprovide input review impacts of proposed rates and review impacts of proposed rates and
depreciationdepreciation
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Recommendations
Report and recommendations sent to Minister
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Future?