Ask Allan Forum
Get expert answers to your tax questions straight from Allan, our owner and experienced CPA. It’s free, direct, and designed to help you make the best decisions when it comes to your taxes.
Notifications
Clear all
Ask Allan Forum
2
Posts
2
Users
0
Reactions
2
Views
Apr 30, 2023 11:32 pm
Hi Allan,
I have a rental property and I claimed CCA. How could I find out the proceeds of the building value? Is it normal to have building value significantly increased per the city assessment? What is the best way to get the current building value? Thanks.
1 Reply
May 18, 2023 2:27 pm
Hire a certified appraiser to determine the breakdown of the selling price between land and building. Or you can ask this information from your realtor. The City Assessment is not reflective of fair market value, and should not be used.