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St. John's, Newfoundland and Labrador, Canada

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Statutes of Newfoundland and Labrador 2006


CHAPTER 20

AN ACT TO AMEND THE ASSESSMENT ACT AND THE ST. JOHN’S ASSESSMENT ACT

(Assented to May 26, 2006)

Analysis


              ASSESSMENT ACT

        1.   S.17.2 Added
Special purpose property

        2.   S.38 Amdt.
Powers of commission

              ST. JOHN'S ASSESSMENT ACT

        3.   S.49.2 Added
Special purpose property

        4.   S.77 Amdt.
Powers of court


Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

ASSESSMENT ACT

RSNL1990 cA-18
as amended

        1. The Assessment Act is amended by adding immediately after section 17.1 the following:

Special purpose property

   17.2 (1) In this section

             (a)  "reproduction cost of a property" means the cost, less physical depreciation, required to construct a reasonably identical replacement of the property using the same or similar materials, construction standards, design and quality of work, calculated on the basis of prevailing prices and on the assumption of normal competency and normal conditions; and

             (b)  "special purpose property" means a property that has a design or lay out or is constructed of special materials or in a manner that restricts its use.

             (2)  Notwithstanding section 17, an assessor shall assess a special purpose property based on the reproduction cost of the property.

 

        2. Section 38 of the Act is amended by adding immediately after subsection (1) the following:

          (1.1)  Where the property is a special purpose property as defined in section 17.2, a commission, after hearing the evidence, shall confirm the assessment appealed against or amend it by increasing or decreasing it where the commission believes that it is above or below the reproduction cost of the property.

ST. JOHN'S ASSESSMENT ACT

RSNL1990 cS-1
as amended

        3. The St. John's Assessment Act is amended by adding immediately after section 49.1 the following:

Special purpose property

   49.2 (1) In this section

             (a)  "reproduction cost of a property" means the cost, less physical depreciation, required to construct a reasonably identical replacement of the property using the same or similar materials, construction standards, design and quality of work, calculated on the basis of prevailing prices and on the assumption of normal competency and normal conditions; and

             (b)  "special purpose property" means a property that has a design or lay out or is constructed of special materials or in a manner that restricts its use.

             (2)  Notwithstanding section 49, an assessor shall assess a special purpose property based on the reproduction cost of the property.

        4. The Act is amended by adding immediately after subsection 77(3) the following:

             (4)  Where the property is a special purpose property as defined in section 49.2, the court shall only amend an assessment on the basis that it is above or below the reproduction cost of the property.