Valuation of timberland and woodlots
17(1)This section applies to the assessment of real property classified by the Director under section 16 as freehold timberland or farm woodlots.
17(2)Freehold timberland other than farm woodlots shall be assessed at one hundred dollars per hectare.
17(3)Farm woodlots shall be assessed at a value that will realize a tax of one dollar per hectare per year based on the combined provincial and local government tax rate for the previous year.
17(4)Contiguous lots and lots separated by a highway or road, when owned by the same person shall be treated as a single block of timberland or farm woodlots as the case may be.
17(5)Notwithstanding subsection (4), a farm woodlot that has an area of one hundred hectares or more shall be classified as freehold timberland.
1965-66, c.110, s.17; 1968, c.15, s.7, 8; 1969, c.22, s.7, 8; 1973, c.18, s.4; 1977, c.6, s.5; 1979, c.5, s.2; 1983, c.12, s.15; 1983, c.12.1, s.1; 1989, c.N-5.01, s.31; 1993, c.31, s.1; 2005, c.7, s.3; 2017, c.20, s.5