BC Assessment Glossary

Last Updated: October 27, 2009

Foreword: These definitions are intended only for assistance in interpretation of assessment fact-sheets and policy documents. Other sources may provide different definitions for the same terms. The definitions are subject to periodic review and may be updated without notice. 

 

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Accommodation Manager(s) (BCA)
Person(s) or corporations which perform property management functions on behalf of accommodation property owners, including functions such as guest registration, housekeeping, repair and maintenance, payment of fees and taxes. Also see Rental Accommodation Manager(s)

Active Permit (BCA)
Active permit means that a permit has one of the following servicing types and had a status other than “Complete” anytime during the calendar year.

01	New Structure
02	Additions
05	Demolitions
07	Tenant Improvements
17	Needs Inspection
22	Reassessment

Actual Use Code (BCA)
This three digit, internally used, BC Assessment code (abbreviated AUC), denotes a folio's primary use. Each folio can have only one primary code.

Actual Value (BCA)
With reference to property taxation in British Columbia, this term refers to the value (less any applicable exemptions) to which tax rates are applied. For the majority of properties in BC, actual value is in fact market value as estimated at July 1 of the preceding year.

There are exceptions where the actual value determined by an assessor is not based upon an estimate of market value. The buildings and other structures of major industrial properties are assessed using a manual prescribed by statute to determine the depreciated cost of replacing them. Also farm land assessments are based on the value the land would have considering only its ability to grow farm produce. Some other types of properties are valued according to legislated rates per kilometre or per acre (e.g., railways, power and pipelines).

Additional Rent (Building Owners and Managers Institute – BOMI)
Additional rent is any and all charges besides base rent the tenant must pay according to the terms of the lease. Examples of additional rent include a proportional share of building operating expenses.

Administrative Changes (BCA)
Changes related to assessment administration, including system entries with neighbourhood code changes, name changes, and auditing, are not included in the definition of Non-Market Change.

Agent (BCA)
An individual who acts on behalf of a property owner. Please note: for information disclosure, agency is relevant in two contexts: (1) whether a person is to be charged a fee for non-confidential property information or can get that information for free as could the owner; and (2) whether the person is entitled to access confidential property information. A person may be an agent for the first purpose but not for the second. Therefore, it is possible that a person can be an “agent” even if they are not authorized in the prescribed form to receive confidential property information.

Agent, Limited
An agent who acts on behalf of the property owner but is restricted to only non-confidential information.

Agent, Unlimited
An agent who acts on behalf of the property owner and receives access to confidential information deemed appropriate by the owner.

Agricultural Land Reserve (ALR) (BCA)
Land that it is subject to the Agricultural Land Commission Act. Although the Standards include special provisions for ALR land, ALR designation and farm classification are two separate determinations. Land classified as farm does not have to be in the ALR, and land in the ALR does not automatically qualify for farm class.

Allowance (www.officespace.com)
A set dollar amount provided by the Landlord under a lease to be used by the Tenant for a specific purpose. Examples include allowances for tenant improvements, moving expenses, design fees, etc. If the expense exceeds the allowance amount, such excess is the Tenant's responsibility. If the expense is less than the allowance, the savings are retained by the Landlord unless their agreement specifies otherwise.

Alternative use (Appraisal of Real Estate 2nd Canadian Edition, 2002)
A use other than the existing use of a property; or one of several alternative uses analyzed to determine the highest and best use of the property.

Amendment (BCA)
Any add/change/delete that is directed from the decisions of the PAAB.

Amendment Party (BCA, PAAB)
All parties which have a direct interest in the appeal, including:

-owner
-appellant (if not the owner)
-appellant’s advocate
-respondent’s advocate.

Ancillary (Black’s Law Dictionary, 6th ed.; Concise Oxford Dictionary, 10th ed. Rev.; SCI Canada Ltd)
"Auxililary or subordinate." (Black's). "Providing support to the primary activities of an organization. Additional; subsidiary" ( Concise Oxford). "It means something which may be expected to occur in fortuitous or intended subordinate conjunction with something else of which it forms no essential part." (Assessor of Area 10 - Burnaby/New Westminster v. SCI Canada Ltd. (2000), Stated Case 415 (B.C.C.A.)

Appellant (Property Assessment Appeal Board)
A person or entity who is appealing the decision of the Property Assessment Review Panel (PARP). The appellant may be represented by an agent or counsel.

Appeal Information Report (Property Assessment Appeal Board)
A report prepared by the PAAB which provides a summary of the appeal, including grounds for appeal and parties to the appeal.

Appeal Manager (BCA)
The BCA appraiser assigned to a specific appeal.

Appeal Management Conference (AMC) (BCA)
Appeal Management Conferences (AMCs) are one of the tools used by the Board to resolve appeals in a quick and cost effective manner.  The main purpose of an AMC is to discuss issues, likely evidence, and whether the appeal can be resolved without a hearing.  Even if the AMC does not result in the resolution of the appeal, it usually helps the parties understand and narrow the issues, identify where they disagree and thereby allow the hearing run more smoothly and be more focused.

Appraiser (BCA)
One who develops estimates of real estate value. If an appraiser does this ‘for hire’ in private enterprise, he or she is termed a fee appraiser. Internally in BC Assessment, appraiser refers to a job classification of someone who collects and analyses real estate data to develop estimates of real estate value for assessment purposes.

Aquatic Crown Land (MAL)
Land below the visible high water mark of a body of water, extending offshore to the recognized limit of provincial jurisdiction.

Assessed Value (BCA)
This is an obsolete term and should not be used in BC Assessment communications. It is a holdover from the days before the advent of the actual value assessment roll in British Columbia, when such a concept was recognized in law. If we have to use this phrase, it should be taken as synonymous with actual value.

Assessment Policy (BCA)
An Assessment Policy is a compendium of information for uniform implementation of the Assessment Act and related Regulations. Policies include:

 

• Business rules for uniform assessment practice using valueBC
• Direction for uniform legal interpretation (e.g., decision processes)
• Standards (e.g., definitions, performance and compliance targets)
• Related resources (e.g., case studies, case law summaries, FAQs, links to industry sources)

Assessment Roll (BCA)
A listing of all properties that are subject to assessment within a municipality or rural area. The Assessment Authority Act Regulations (BC Reg 497/77) list what information must be contained in the roll. This includes the name and address of the assessed owner, a description of the property’s location (legal description and/or property address), and the actual value and classification of the land and improvements.

Assessment-Sale Price Ratio (ASR) (IAAO)
The ratio of the assessed value to the sale price of a property.

Assessed Value/Sale Price = ASR

Assessor (BCA)
In general terms, an assessor is an appraiser who develops estimates of real estate value for the ultimate purpose of property taxation. Internally in BC Assessment, an assessor is the manager in charge of one of the 22 area offices throughout the province - his or her title is Area Assessor.

Asset (The Dictionary of Real Estate Appraisal, 4th ed.)
Any owned property that has value, including financial assets (cash or bonds) and physical assets (real and personal property.

Assisted Living (AL) (BCA)
These facilities fall between Independent Living and Licensed Care. Facilities may provide everything that Independent Living facilities provide plus up to 2 prescribed services to their residents. Facilities must be registered with the Assisted Living Registrar.

Attic (BCA)
An attic is the low storey space between the roof joist or rafter and the upper storey ceiling joist of any building. An attic is typified by oblique walls and a height varying from place to place except in a flat roof design. The main characteristic of an attic is an insufficient height to stand at or near the sides and often at the peak as well. For costing purposes, an attic adjustment is only to be contemplated in situations where the roof pitch is not included in the cost model being utilized, there is a recognizable adherence to the building or municipal codes, a fixed floor is present and adequate access is provided.

Authenticated Roll (BCA)
Produced in April and contains all changes made by property assessment review panels. In 2004, the term 'authenticated roll' was replace with 'revised roll'.

Authorized Signatory (BCA)
Where property has a corporate owner, a director of that company, or company official or senior level employee with signing authority for release of confidential information about the property.  Normally, a written response from the authorized signatory on corporate letterhead would be accepted as evidence of signing authority to release confidential information.

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Base Rent (Building Owners and Managers Institute – BOMI)
Base rent is the monthly recurring rental charges stated in the lease. Base rent may include an escalation formula. The purpose of this rent is to pay the owners debt service, cover depreciation expense, and provide a rate of return on the investment.

Base Year (Calgary Real Estate Board Glossary)
The year in a lease term used as a standard in a rent escalation clause. Operating costs in the next year are compared with costs in the base year, and tenant's rent is adjusted either up or down.

Big Box (BCA – Shopping Centre Development Handbook Urban Land Institute 1999)
These are generally specialized retail facilities which are intended to drive the competition from a market by offering greater depth in a particular retail area (e.g. sports, home furnishing, drugs, etc). Big Box Stores are often characterized by ‘warehouse’ style construction and are associated with various degrees of interior finishing ranging from very minimal to department store equivalents.

There are several recognized size variations on the Big Box format;

Conventional Big Boxes – 60,000 to 150,000 sq ft
Mid-Boxes – 25,000 to 60,000 sq ft
Junior Boxes or Mini-Boxes – up to 20,000 to 25,000 sq ft.

Builder (Canada Customs and Revenue Agency)
For the purpose of the new housing rebate, a builder is a person who is in the business of constructing or substantially renovating housing on land owned or leased by that builder. A builder may also include one of the following:

• a manufacturer or vendor of a new mobile home or floating home;
• a person who buys unoccupied new housing for resale purposes; or
• a person who acquires an interest in a home as part of that person's business or trade while the home is under construction or substantial renovation.

Building (Black’s Law Dictionary, 6th edition)
Structure designed for habitation, shelter, storage, trade, manufacture, religion, business, education, and the like. A structure or edifice inclosing a space within its walls, and usually, but not necessarily, covered with a roof.

… walkways, plaques and benches … are improvements but they do not fall within the ordinary meaning of "building" (Assessor of Area 14 – Surrey/White Rock v. Roman Catholic Archbishop of Vancouver (2003, PAAB – refer to as 2004 PAABBC 20031755).

Building Scheme (Land Title Act)
means a scheme for development that comes into existence where defined land is laid out in parcels and intended to be sold to different purchasers or leased or subleased to different lessees, each of whom enters into a restrictive covenant with the common vendor or lessor agreeing that his or her particular parcel is subject to certain restrictions as to use, the restrictive covenants constituting a special local law applicable to the defined land and the benefit and burden of the covenants passing to, as the case may be, the purchaser, lessee or sublessee of the parcel and his or her successors in title.

Bundle of Rights Theory (The Dictionary of Real Estate Appraisal, 4th ed.)
The concept that compares property ownership to a bundle of sticks with each stick representing a distinct and separate right of the property owner, e.g., the right to use real estate, to sell it, to lease it, to give it away, or to choose to exercise all or none of these rights.

Business Of (Assessor of Area 21 – Nelson/Trail v. Cominco Ltd. 1997, Stated Case 384, BCSC)
In this case, the Court held that "business" in s.2 of the Regulation should be construed to mean "concern", or "engagement", or "undertaking".

Business Rules (BCA)
Technical statements of business procedure developed in particular context which govern certain activities, and require consistent application. An example might be identifying how an appraiser is to make individual adjustments to a residential property for functional or external depreciation. Components of assessment policy providing succinct direction, usually no more than one sentence, for uniform assessment practice using valueBC. An assessment policy will normally contain a number of business rules.

Buyout Clause (BCA)
This provision may be invoked when a tenant or landlord seeks early termination of the lease. Tenants may seek premises elsewhere for expansion and in some cases, landlords may have alternate plans for the tenant’s space. The clause, when invoked by the tenant, will stipulate an early termination fee (e.g., based on the present value of future unpaid rent) plus any unamortized improvements. From the tenant’s perspective, a buyout would be less costly than having to fulfill a long-term lease with an unprofitable business, or a successful business in need of more space to grow.

In a retail lease a buy-out is a form of concession whereby an owner or developer arranges to pay for the rent of a tenant's lease term so that the tenant will relocate to the owner's shopping centre or move out of a space that the owner wants to use for another purpose.

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Campground (BCA)
A property with one or more campsites and/or RV pads, and often other associated facilities, such as:

• structural improvements such as covered cooking areas;
• group facilities;
• administration offices;
• laundry facilities;
• washrooms with or without showers;
• picnic tables;
• convenience store;
• service/utility hook ups such as gas, water, electricity and sewers usually for the RVs;
• wood bins; and
• garbage bins.

Note that a property may include a campground as well as other tourist accommodation facilities such as rental cabins or a motel.

Camping (BCA)
An outdoor recreational activity involving long or short-term overnnight accomodation on a campsite and/or RV pad, unless the user acquires exclusive rights to a specific site through a long-term membership, lease or license .

Camping Fee (BCA)
A fee levied by campground owners or managers/operators use of the campsites or RV pads and ancillary amenities.

Campsite / RV Pad (BCA)
An outdoor area within a campground designed to accommodate a person or party who wishes to camp, and for which a camping fee is typically paid.

Campground Operator (BCA)
A person or persons who manage(s) a campground.

Campus of Care (BCA)
A facility that provides two or three levels of seniors housing on one property so that residents can age in one location. The levels range from independent living and/or assisted living to licensed care.

Capacity (BCA)
The production capability for which the facility was designed. Design capacity may differ from current or actual production.

Capital Assets (The Dictionary of Real Estate Appraisal, 4th ed.)
1. Assets of a permanent nature used to produce income, e.g., land, buildings, machinery, equipment.

2. In accounting, the liquid or readily convertible assets of a corporation as of a certain date, e.g., cash, accounts receivable, merchandise inventories. See also current assets.

Capital Expenditure (The Dictionary of Real Estate Appraisal, 4th ed.)
Investments of cash or the creation of liability to acquire or improve an asset, e.g., land, buildings, building additions, site improvements, machinery, equipment; as distinguished from cash outflows for expense items that are normally considered part of the current period's operations.

Capital Expense (The Dictionary of Real Estate Appraisal, 4th ed.)
The amount required to satisfy the interest on and amortization of an investment; also called capital charge.

Capital Recapture (The Dictionary of Real Estate Appraisal, 4th ed.)
The return of equity in an investment as distinguished from the return on equity. Investment capital may be recaptured through annual income or it may be recaptured all or in part through resale of the property at the termination of the investment; also called capital recovery.

Capitalized Economic Profit (CEP) (The Dictionary of Real Estate Appraisal, 4th ed.)
The present worth of an entrepreneur's economic profit expectation from being engaged in the activity of acquiring an asset, or collection of assets, at a known price and then selling, or being able to sell, the same asset or collection of assets at a future uncertain price. The amount of the entrepreneur's expected economic profit, and consequent CEP, is determined by the nature of the risks taken and/or the expected return to the entrepreneur's innovation. CEP is the value of a residual claim, which is subordinate to the opportunity cost claims of all agents of production employed by the business (e.g., land, labour, and/or capital).

Capitalization Rate – Actual Income (Appraisal Institute of Canada)
The cap rate indicated by the net operating income at the time of sale. This rate will reflect the actual vacancy of the property.

Capitalization Rate – Actual Income Adjusted for Excess Vacancy (Actual Stabilized) (Appraisal Institute of Canada)
The cap rate indicated by the net operating income at the time of sale where excess vacancy is included at economic rates. This cap rate is determined by adding economic rents to actual gross income achieve 100% occupancy or Potential Gross Income, deducting a vacancy allowance and stabilized expenses (reflecting the stabilized vacancy).

The rent may include rental steps within the 12 months of the sale, if it can be confirmed that the investor was purchasing this income stream.

Capitalization Rate – Economic (Appraisal Institute of Canada)
The cap rate based on a forecast of income, at the time of sale. The appraiser uses an estimate of market or economic rent, vacancy, and expenses to develop an economic net income.

Capitalization Rate – System (BCA)
The cap rate based on system or valueBC rents, expenses, and vacancy at the time of sale. This cap rate provides a point of reference for determining the market movement indicated by the calculated Actual and Economic cap rates.

Cash Sale (Black's Legal Dictionary)
A sale for money in hand. A sale conditional on payment concurrent with delivery.

Category Killer (Shopping Centre Development Handbook – Urban Land Institute 1999)
Large specialty retailers that serve a single market segment with a single class of merchandise, providing depth of product (as opposed to a Department store). These retailers are usually associated with Big Box stores and range in size from 25,000 to 100,000+ sq ft. Category Killers are increasingly becoming Anchor Tenants in Community and Regional Centers. Examples of Category Killers include Home Depot, IKEA, Rona, Chapters, Future Shop and Sport Chek. Mini-Category Killers are now emerging in the Canada with sizes in the 7500 sq ft range for customers who prefer a quick shopping trip to merchandise in depth.

Since Category Killers refer to a type of retail product which is not size dependent, an Occupancy has not been defined. However, it will be possible identify mall properties which commonly focus on these property types, such as Power Centers through development of distinct Models (depending on scale of Centre – see Occupancy Definitions).

The term Category Killer evolved from the business scenario when an organization develops a product/service or business structure that drives all customers to it, thereby killing off the competition.

Cemetery (Cemetery and Funeral Services Act)
“Land that is set apart or used as a place of interment, together with any incidental or ancillary buildings”.

Cemetery Services (Cemetery and Funeral Services Act)
“The disposition of human remains by interment or cremation and includes the supply of goods incidental to interment or cremation, but does not include the sale of lots”.

Charge (BCA)
An interest less than fee simple registered on title such as an easement, right-of-way, agreement for sale, life estate, mortgage change, restrictive covenant, etc.

Chattels (The Appraisal of Real Estate 2nd Canadian Edition)
Moveable items of property that are not permanently affixed to, or part of, the real estate. Personal property is not endowed with the rights of real property ownership. An example of personal property is furniture. Trade fixtures are personal property no matter how they are affixed to the real estate. Trade fixtures include items such as restaurant booths and industrial equipment.

Coefficient of Dispersion (COD) (IAAO)
The average deviation of a group of numbers from the median expressed as a percentage of the median. In ratio studies, the average percentage deviation from the median ratio.

Collector (BCA)
Means the municipal officer assigned responsibility as collector of taxes for the municipality.

Commissioner’s Rates Structure (CRS) (BCA)
A group of improvements valued using legislated rates (Commissioner’s Rates) based on CRS type, owner and area. A Structure may be comprised of one, many or only part of a folio.

-CRS Class
Class of improvements found within each CRS Type defined in various regulations and for which a rate is determined.

-CRS Type
Refers to the type of continuous structure as defined in various regulations, including:

CRS Type 1: Electrical Distribution Lines
CRS Type 2: Electrical Transmission Lines
CRS Type 3: Telephone & Cablevision Systems
CRS Type 4: Fibre Optic Cables
CRS Type 6: Railway Track
CRS Type 7: Pipelines (gathering & transmission)
CRS Types 9-15: Towers.

Commencement of Excavation (BCA)
Defined in the guidelines as the point at which the portion of the development property dedicated for residential use can be classified as Residential under BC Reg. 438/81. In other words, when residential is deemed to have begun in mixed-use development property.

Commercial Land Use (Contaminated Site Regulation)
The use of land for the primary purpose of buying, selling or trading of merchandise or services including, without limitation, shopping malls, office complexes, restaurants, hotels, motels, grocery stores, automobile service stations, petroleum distribution operations, dry cleaning operations, municipal yards, warehouses, law courts, museums, churches, golf courses, government offices, air and sea terminals, bus and railway stations, and storage associated with these uses.

Common Area (BCA)
The area within a single family residence which is available to the public (B&B guests) who purchase short-term accommodation. Typical examples of common areas include:

-shared washrooms or spa facilities;
-dining room;
-living or sitting room;
-lounge or library;
-foyer, entrance, and hallways; and
-outdoor areas used, or available to the public.

Common Area Maintenance (CAM) Charges (Calgary Real Estate Board)
In a retail lease, this clause stipulates how much the tenant will pay for maintaining the common area -- that area within a shopping centre or mall which tenants use in common; i.e., courtyards, escalators, sidewalks, skyways, parking areas, etc.

Common Property (Strata Property Act, section 1)
Part of the land and buildings shown on a strata plan that is not part of a strata lot.

Common Asset (Strata Property Act)
(a) personal property held by or on behalf of a strata corporation, and
(b) land held in the name of or on behalf of a strata corporation, that is
(i) not shown on the strata plan, or
(ii) shown as a strata lot on the strata plan.

Community (Taxation (Rural Area) Act)
This term in the Act has been defined by the Supreme Court as an identifiable group of persons living in a particular area. The Supreme Court has stated that this phrase from the Act does not mean every individual in the community.

Company Sale (BCA)
Property was transferred as a corporate asset in purchase of a corporation. The reported Sale Price may reflect book value rather than market value.

Compensation (Water Utility Act, Section 1)
a rate, remuneration, gain or reward of any kind paid, payable, promised, demanded, received or expected, directly or indirectly, and includes a promise or undertaking by a water utility to provide service as consideration for, or as part of, a proposal or contract to dispose of land or any interest in it.

Competitive Market Set (BCA)
The range of properties of a specific type which a typical buyer or seller (investor) would normally consider as alternatives for comparison of investment opportunities.

Each Competitive Market Set (CMS) should be defined to encompass the largest possible number of properties. Begin by considering if the CMS can encompass the entire Region. If a region wide CMS is unreasonable, it can be defined at a smaller geography (i.e. Area, Jurisdiction).

The Competitive Market Set for strata residential property models can not be limited to the sub-neighbourhood or building level.

Complaint (Assessment Act)
Written notice from the property owner, assessor, or other party requesting a review of the assessment by the Property Assessment Review Panel. According to section 33(3) a notice of complaint must:

(a) clearly identify the property in respect of which the complaint is made,
(b) include the full name of the complainant and a telephone number at which the complainant may be contacted during regular business hours,
(c) indicate whether or not the complainant is the owner of the property to which the complaint relates,
(d) if the complainant has an agent to act on the complainant’s behalf in respect of the complaint, include the full name of the agent and a telephone number at which the agent may be contacted during regular business hours,
(e) include an address for delivery of any notices in respect of the complaint,
(f) state the grounds on which the complaint is based under section 32 (1), and
(g) include any other prescribed information.
Completed Roll (BCA)

Produced December 31 for the following year.

Complex Property (BCA)
A non-residential property which requires significant BCA valuation resources. Examples of complex properties include, without limitation, the following property types:

• Hotels, motels, and resorts other than small motels, B&Bs or lodges with less than 20 guest rooms
• 18-hole Golf courses
• Large Marinas (over 100 slips)
• Major Industry properties (as defined in section 20)
• Office or Industrial properties greater than 25,000 sq ft in gross leasable area
• Retail properties greater than 25,000 sq ft in net leasable area
• Shopping Centres – Neighbourhood, Community, or Regional
• Communal residences for senior citizens (e.g. Independent Living, Assisted Living, Licensed Care facilities)
• Ski Resorts .

Given the high diversity of properties assessed in B.C., Area Assessor discretion will be necessary to determine if a property is complex or simple. To ensure consistency of approach, the Area Assessor should contact the BCA Information Officer for advice on 3rd party information requests for properties which do not clearly meet the above criteria.  

Condition (The Appraisal of Real Estate – Second Canadian Edition)
Condition is the extent of physical deterioration evident in the subject improvement. Three categories of building components constitute the condition of an improvement:

• items in need of immediate repair (e.g. deferred maintenance such as peeling paint, loose tiles, cracked sidewalks);
• items that may be repaired or replaced at a later time (e.g. short –lived items such as floor finishes, roof coverings, carpeting, water heater); and,
• items that are expected to last the full economic life of the improvement (e.g. long-lived items such as plumbing fixtures, electric wiring, ducts, radiators).

Confidential Information (BCA)
Information that is not available to the public, including actual information about specific properties, such as financial information, provided to BCA and used as the basis for creating derived information.

Confidential information does not include information that is available:

• through publication on the assessment roll (face of the roll information),
• under the Physical Inventory Disclosure Regulation,
• through an assessment appeal proceeding, or
• for sale by BCA.

Note: Although property owner’s names are shown on the roll, care should be taken they are not released other than as allowed under section 68(2) or 6(5).

Confidential Property Information (BCA)
Includes information that is not:

• “face of the roll” information (e.g., that is available to the public on the microfiche);
• available to the public under a regulation (e.g., the Physical Inventory Disclosure Regulation); or
• derived information or readily available physical property information made available for sale by BCA.

Consistent Use (Appraisal of Real Estate 2nd Canadian Edition, 2002)
The concept that the marketplace values the land and improvements of a property based on the same use. Appraisers must address the concept of consistent use when properties have temporary or ‘interim’ uses. Improvements which may not represent the land’s highest and best use, but have substantial remaining physical lives, can have an interim use of temporary value, no value at all, or even negative value if their removal will incur substantial costs.

Contaminated Sites (Section 26(1) Waste Management Act)
‘Contaminated Site’ means an area of land in which the soil or any groundwater lying beneath it, or the water or the underlying sediment, contains
(a) a special waste, or
(b) another prescribed substance in quantities or concentrations exceeding prescribed criteria, standards or conditions.

Controlled or Managed By (BCA / Black’s Law Dictionary 5th edition)
This phrase is associated with the individual/entity, or related individuals or entities, which work together with the common goal of controlling or managing an accommodation rental pool. If unrelated individuals or corporations each separately manage a pool of units, but none controls or manages 85% of the accommodation units, then this criterion will not be met for any of the units in the complex.

Control is defined as “to exercise restraining or directing influence over”. As a noun, it is defined as “power or authority to manage, direct, superintend, restrict, regulate, govern, administer or oversee”. Manage is defined as “to control and direct, to administer, to take charge of”. Black’s Law Dictionary, 5th ed.

Conventional Farm (BCA)
Land which qualifies for Farm Class under Section 5, Gross Annual Value Requirements, of the Standards for the Classification of Land as a Farm (“the Standards”).

Corporation Capital Tax (CCT) (BCA)
The Corporation Capital Tax (CCT) came into being with the passing of the Corporation Capital Tax Act in 1992. The CCT is a tax on corporations with a permanent establishment in British Columbia that have a net paid up capital greater than $1,500,000.00.

Cost to Cure (BCA)
Cost-to-cure is a measure used for curable physical deterioration and curable functional obsolescence.

Crawl Space (Dictionary of Real Estate Appraisal 4th Edition)
An unfinished, accessible space below the first floor of a structure that is usually less than full story height.

Crown (BCA)
Government formally referred to as the Crown in Right of British Columbia. .

Curable Defects (Interpretation Act)
A curable defect is an error or omission in the way the notice of complaint is presented (form) that does not go to the substance of the issue.

Cut Timber Value (BCA)
The value of timber based on species and grade for the folio. Cut Timber value does not include land value.

C-Store (Dictionary of Real Estate Appraisal 4th edition)
The term refers to a convenience store or a retail outlet, typically located in proximity to a residential neighbourhood, where convenience goods can be purchased; provides a convenient location and longer hours for the quick purchase of a wide array of consumable goods and services.

Convenience stores have six identifiable formats (National Association of Convenience Stores):

Kiosk	500-800 square feet or less (typically very limited merchandise)
Mini Convenience Store	800-1,200 square feet
Limited-Selection Convenience Store	1,500-2,200 square feet
Traditional Convenience Store	2,400-2,500 square feet
Expanded Convenience Store	2,800-3,600 square feet
Hyper Convenience Store	4,000-5,000 square feet

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DCCs (BCA)
Development Cost Charges. A fee which local governments may levy against development projects to recover the cost of providing local services.

De Minimus Improvement (BCA)
An improvement that is so inconsequentia in size or value that, in law and practice, it does not make sense to separately assess it.

Deficit Rent (The Appraisal of Real Estate, Second Canadian Edition)
The amount by which market rent exceeds contract rent at the time of the appraisal. It is created by a lease favourable to the tenant and may reflect uninformed parties, inferior management, or a lease executed in a weaker rental market.

Demised Area (BOMA Standards)
The walled off and secured area of a leased space, separated from spaces leased to others (by a "demising" wall). Also referred to as Useable Area.

Demonstrable Benefit (BCA)
In defining this phrase, the Supreme Court has stated that there is a requirement to show moral, intellectual or societal benefits be provided to the community as a condition to receiving the exemption sought.

Demonstrable benefit was further defined in the BC Court of Appeal decision City of Williams Lake v. Area Assessor of Area 24 (BCCA 352). This decision stated that:
 
“demonstratable benefit is not limited to a moral, intellectual or societal benefit, but also includes an economic benefit. The benefit provided to the community need not be provided by the non-profit organization owning/occupying the subject land and improvements, so long as the occupation of that non-profit organization is exclusive”.

Because of the Court of Appeal’s decision in the Williams Lake Airport case (noted above), “demonstrable benefit” is no longer limited to those benefits of a “moral, intellectual, or societal” nature. Now, if a property is used exclusively by a non-profit organization for any kind of demonstrated general benefit to the community, the property will qualify for an exemption under s.15 (1)(q).

Department (BCA)
A group of similar improvements associated with a process (e.g. chip handling, stock prep or power generation). All tanks, yard improvements and pollution abatement improvements are to be placed together in respective separate departments regardless of the process to which they belong. (Refer to Schedule B for a list of departments)

Depreciation (The Appraisal of Real Estate – Second Canadian Edition)
Depreciation is the difference between the market value of an improvement and its reproduction or replacement cost at the time of appraisal. There are three components of depreciation:

• “Physical deterioration – wear and tear from regular use and the impact of the elements.

• Functional Obsolescence – a flaw in the structure, materials, or design that diminishes the function, utility, and value of the improvement.
• External Obsolescence – a temporary or permanent impairment of the utility or salability of an improvement or property due to negative influences outside the property. (External obsolescence may result from adverse market conditions. Because of its fixed location, real estate is subject to external influences that usually cannot be controlled by the property owner, landlord or tenant.)”

Derived Information (BCA)
Information derived from actual information gathered by BCA or provided to BCA. BCA analyses actual information to develop a series of market inputs for valuation of a range of properties (“derived information”). Actual financial performance and related information of a property provided to BCA will continue to be treated as confidential by BCA.

Design (The Appraisal of Real Estate - Second Canadian Edition)
Design is the arrangement of elements or details in a structure. “Good design meets the following criteria:

• Functions well – fitness of intended use
• Looks good – appeals to aesthetic sense
• Feels good – carries meaning; recreates feeling from another time or place
• Balance – sense of correct proportion; compatibility
• Affordable – consistent with market expectations for price range”

An example of design is the combination of layout and choices of appliances, materials and colours in a kitchen (or an entire house).

Developer (BCA)
A person or entity that creates, develops, and sells new residential property through subdivision. A Developer may also be a Builder (see above).

Development Land (BCA)
Property, which has a highest and best use for development into a higher density use, generally through subdivision (e.g. residential subdivision).

Developing Farm (BCA)
Land being developed as a farm which does not yet meet the production requirements of Section 5 of the Standards, but which meets the requirements of Section 8 of the Standards.

Distress Sale (Black’s Law Dictionary Abridged 7th Ed – BCA Modified)

• A form of liquidation in which the seller receives less for the goods than what would be received under normal sale conditions; esp. a going-out-of-business sale.
• A foreclosure or tax sale.

• Sale where an owner is forced to sell for financing or other reasons. When a distress sale is typical of the local market (e.g., major employer shut-down in small community), it should be included in a market study.
• Sale resulting from divorce proceedings. Note: If an appraisal was completed to establish the transfer price, the sale may provide an indication of market value in a very thin market.
• Refer to Reject Sale
  

Dominant Folio (BCA)
In the merge tool, the parent folio with the original data that is copied to the new folio.

Dormer (Miriam Webster Online)
A window set vertically in a structure projecting through a sloping roof; also: the roofed structure containing such a window.

Dummy Sale (BCA)
A sales record that is created when the FIN579 cannot be attached to a sale. Refer to Reject Sale.

Dwelling (Black’s Law Dictionary)
The house or other structure in which a person or persons live; a residence; abode; habitation; the apartment or building, or group of buildings, occupied by a family as a place of residence. Structure used as a place of habitation.

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Easement (Land Title Practice Manual)
An easement may be described as a right to the use of, or a right to restrict the use of, the land of another person in some way. An easement may be positive or negative. A positive easement gives an owner a right to do some positive act on another owner’s land, for example, to drive a car over a neighbour’s land, or to erect a sign over a neighbouring owner’s store. A negative easement imposes a restriction on the use an owner may make of his or her land. For example, an owner may be restricted from building so as to block light from a neighbour’s window, or from removing the supporting soil next to the boundary of a neighbour’s property. The registrar endorses a negative easement as a restrictive covenant.

Ecological Gift (Federal Dept of Environment - Canadian Wildlife Service)
An ecological gift is a transfer from the owner to a legally recognized grantee of all or some interest in land, to protect ecological sensitive values.  Examples of eco-gifts include:

• areas representative of natural biodiversity;
• natural buffers around environmentally sensitive areas;
• rare or endangered habitats.

Economic Life (The Dictionary of Real Estate Appraisal, 4th ed.)
The period over which improvements to real property contribute to property value.

Economic Rate (BCA)
The market rate observed for typical apartment properties in the Competitive Market Set (CMS) associated with a specific Apartment Model. The Economic Rate will include typical amenities provided in the CMS for a specific Occupancy and Quality. Examples of amenities may include parking, cable, heat, etc.

Economic Rate MANUFACTURED HOME PARKS (BCA)
The unadjusted market rent observed for typical Manufactured Home Parks in the Competitive Market Set associated with a specific Manufactured Home Park Model. The economic rate will include typical amenities provided by the landlord (e.g. water, sewer, etc.).

Economic Rate INDUSTRIAL - AUTOMOTIVE (BCA-CIPPREC/AIC 2001)
The Market Rate observed for typical Industrial-Automotive space in the Competitive Market Set associated with a specific Industrial-Automotive model.

Economic Rate OFFICE/RETAIL/INDUSTIAL (BCA)
The market rate (based on Strata Lot Area) observed for typical strata commercial units in the Competitive Market Set associated with a specific model. The market rate will include typical amenities provided in the CMS for a specific Occupancy and Quality. Examples of amenities include level of fixturing (e.g. TIs), parking for staff and clients, storage, access to other limited common property, etc.

Economic Rate STRATA HOTEL MOTEL PROPERTIES (BCA)
The unadjusted market rent observed for typical strata hotel & motel properties in the Competitive Market Set associated with a specific model. The economic rate will include typical facilities/guest amenities provided in the Competitive Market Set for a specific Occupancy and Quality. Examples of amenities are balconies, security entrance, parking privileges, owners’ rights of personal use, storage and a typical range of strata fees.

Effective Year (BCA)
Effective Year refers to the effective age of an improvement. Effective age is defined in s. 1 of the Depreciation of Industrial Improvements Regulation (BC Reg 379/88) as follows:

"effective age" means the number of years determined by:
(a)   calculating the total cost of the industrial improvement,
(b)   multiplying the chronological age of each part of the industrial improvement by the cost of that part to give the weighted age of that part,
(c)   adding the weighted ages of all of the parts of the industrial improvement, and
(d)   dividing the sum of the weighted ages by the total cost of the industrial improvements and rounding the quotient up to the next whole year to yield the effective.

Electrical Power Group (EPG) (BCA)
EPG properties include dams, power plants and substations as defined in section 20.1 of the Assessment Act as well as associated improvements. Not included in this definition are transmission lines valued by Commissioner’s Rates and electrical power production facilities which comprise part of a Major Industrial plant.

Eligible Property (Tourist Accommodation (Assessment Relief) Act)
Defined in the Act as… land that, with its improvements, is used to provide overnight accommodation to guests, and is in class 6 - Business and Other as prescribed by the Prescribed Classes of Property Regulation, B.C. Reg. 438/81 and includes a campground, recreational vehicle park or trailer park.

Eligible Residential Property (Assessment Act)
A parcel of land on which there are improvements if
(a) the parcel does not exceed 2.03 ha in area and
(b) the improvements are designed to accommodate and are used only to accommodate no more than three families

Encroachment (Oxford English Reference Dictionary)
An intrusion on another’s territory or rights; with respect to property ownership this typically means a part of a building or a fence that extends beyond the owner’s lot line into a neighbouring property (BCA).

Encumbrance (Land Title Act)
Includes “a judgment, mortgage, lien, Crown debt or other claim to or on land created or given for any purpose, whether by the act of the parties or any Act or law, and whether voluntary or involuntary”.

Environmental Risk Assessment Report (Contaminated Site Regulation)
A report which identifies the potential onsite and offsite environmental risks of any substances causing contamination before and after remediation, and procedures, including monitoring, designed to mitigate any significant potential risks identified in paragraph.
 
Error (Black’s Law Dictionary, 5th ed.)
A mistaken judgment or incorrect belief as to the existence or effect of matters of fact, or a false or mistaken conception or application of the law.

Escalation (www.officespace.com)
A clause in a lease providing for an increased rental at a future time. May be accomplished by several types of clauses, such as: (1) fixed increases -- a clause which calls for a definite, periodic rental increase; (2) cost of living -- a clause which ties the rent to a government cost of living index, with periodic adjustments as the index changes; (3) direct expense -- the rent adjusted according to changes in the expenses of the property paid by the lessor, such as tax increases, increased maintenance costs, etc.

Excess Land (The Appraisal of Real Estate 2nd Canadian Edition 2002)
For an improved site, the land not needed to serve or support the existing improvement.

For a vacant site or a site considered as though vacant, the land not needed to accommodate the site’s primary highest and best use. Such land may have its own highest and best use or may allow for future expansion of the existing or anticipated improvement.

Excess Rent (The Appraisal of Real Estate, Second Canadian Edition)
The amount by which contract rent exceeds market rent at the time of the appraisal; created by a lease favourable to the landlord (lessor) and may reflect a locational advantage, unusual management, unknowledgeable parties, or a lease execution in an earlier, stronger rental market. Due to the higher risk inherent in the receipt of excess rent, it may be calculated separately and capitalized at a higher rate in the Income Approach. Example - A tenant currently pays $30.00 psf when comparable space is renting for $20.00 psf. The excess rent is $10.00.

Exclusively (Black’s Law Dictionary, 5th ed.)
“apart from all others; only; solely; substantially all or for the greater part; to the exclusion of all others; without admission of others to participate; in a manner to exclude”.  

• Used exclusively

“Used exclusively” has been interpreted by the Property Assessment Appeal Board (PAAB) to refer to the activities conducted in the facilities rather than to the use of the facilities. This means that to receive the exemption, the facilities must be used by an organization for activities of benefit to a substantial part of the community, rather of direct benefit to the organization itself.

Exclusive use does not mean absolutely no other use is permitted. Such facilities may occasionally be used for organizational activities, or for private functions that may not be of a charitable nature, and still retain the exemption. However, it would be necessary for these alternate uses to be a minimum component of the overall use.

Extended-Stay (Appraisal Institute of Canada)
A hotel designed for the traveler who must stay in an area for five or more consecutive days. It differs from a standard hotel in that the rooms and amenities are oriented toward someone who wants a more residential atmosphere. Some common attributes of extended-stay hotels are:

• large living areas
• full eat-in kitchen
• one or more sleeping areas
• individual dining room and,
• separate bath.

Extract (BCA)
“Extracting” means the actual process of removal of products from raw materials; “extract” does not apply to preparatory work or to sites used for the receiving or transfer of products.

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Facility (BCA)
A collection of improvements and associated land used for a similar purpose. A facility may be comprised of one, many or a part of a folio. The interest during construction (IDC) factor is determined by the total facility RCN.

Fair Market Value (Canada Customs and Revenue Agency – Glossary)
The fair market value is normally based on the value of both the building and applicable land. It generally means the highest price that can be obtained in the real estate market between unrelated parties. It does not include GST/HST or provincial land transfer taxes. Note that Fair Market Value, a term used for Income Tax purposes, should not be confused with Market Value, a term used for property valuation purposes.

Farm (Assessment Act)
An area of land classified as a farm under this Act.

Farm Application (BCA)
Regulated application form (available at www.BCAssessment.ca or any BCA office) that must be completed by property owner seeking farm classification. The form provides information necessary to determine if the land will be eligible for farm classification. Deadline for application is October 31. Refer to: Section 3(1), Standards For The Classification of Land as a Farm Regulation.

Farm Building (BCA)
An improvement that is eligible for farm building exemptions under the Community Charter section 220(1)(n); the Taxation (Rural Area) Act section 15(1)(f), and the School Act section 131(4).

Farm Classification (BCA)
Under B.C. Reg. 411/95, of the Standards of the Assessment Act, a farm is all or part of a parcel of land used for:
a) primary agricultural production;
b) a farmer’s dwelling; or
c) the training and boarding of horses when operated in conjunction with horse rearing.

Farm Declassification (BCA)
Reclassification of a property from Property Class 9 to another Property Class.

Farm Development Plan (BCA)
A plan filed with the Assessor under Section 8 of the Standards.

Farm Gate Price (BCA)
Farm gate price is the dollar value received by the farmer from direct farm sales of qualifying primary agricultural products, or the value of primary products that are used for processing. In the case of livestock, farm gate price means the live weight sale price, less any purchase costs – not the killed or dressed sale price quoted from the butcher. If receipts are not provided, other proof of production and sales must be supplied.

Farm Income (BCA)
With some minor exceptions set out in the Standards (refer to: Farm Land below). In order to receive and maintain farm classification, land must generate income from primary agricultural production. Minimum annual income will be calculated based on the farm gate prices of agricultural products.

This income may be calculated for either of the last two years ending October 31. Primary agricultural products must be sold each year. Crops grown for home consumption will not be considered part of farm income. Minimum (threshold) income requirements are calculated as follows:
a)         $10,000 on land less than 8,000 m² (2 ac)
b)         $2,500 on land between 8,000 m² (2 ac) and 4 ha (10 ac)
c)         $2,500 plus five per cent of the actual value of any farm land in excess of 4 ha on land larger than 4 ha (10 ac).

Farm Income Ratio (BCA)
Actual Income/Threshold Income = Income Ratio

Farm Land (BCA)
A classification of land for assessment purposes. Farm land must meet the requirements of the Standards (e.g. produce a prescribed amount of qualifying primary agricultural products for sale such as crops or livestock, meet the criteria to qualify as a developing farm, etc. In addition, some vacant land which is part of a farmed parcel also qualifies as farm land under the Standards.

Farm Lease (BCA)
A written agreement for the rental of all or part of one or more parcels of land. Written leases are required. The lease document must contain all the statutory requirements of Section 7 of the Standards. Land may be eligible for farm classification when a property owner leases all or part of his property to a farmer for the purposes of primary agricultural production. The land must make a reasonable contribution to the farm operation.

Farm Outbuilding (BCA)
Farm improvements, other than the farmer's dwelling, that are exclusively used to operate a farm. Farm outbuildings are classified as Residential.

Farm Product (BCA)
Primary agricultural product as defined in Schedule A of BC Reg. 411/95, or a manufactured derivative of a primary agricultural product.

Farm Production Year (BCA)
A 12 month period ending October 31.

Farmer (BCA)
In most situations the farmer is the owner. In the case of multiple owners or corporate ownership the farmer is the person who signed the application. In the case of leased farm land, the farmer is the lessee.

Farmer's Dwelling (BCA)
A dwelling which is:

• located on or adjacent to the farm, and
• occupied by a person who is actively involved in the day-to-day activities of that farm.

The land associated with a dwelling that is occupied by persons who are not actively involved in the ongoing farm operation, is not eligible for farm classification.

Federal Property – Land (Payment in Lieu of Taxes Act)

Federal land subject to payments in lieu of taxes, must fall into one of the following categories:

• owned by the Crown federal;
• owned by a corporation listed in Schedule III or IV to the PILT Act;
• land and improvements owned by the Crown provincial which are occupied or used by the Crown federal (e.g., space in provincial government land and improvements leased to the federal government)
• national parks and national park reserves;
• national marine parks and national marine park reserves;
• national historic sites and national battlefields;
• heritage canals
• on First Nations reserves,
• land occupied for residential purposes by a federal employee who lives on the reserve for employment reasons;
• land occupied by the Crown federal;
• property for which no original Crown grant has been issued, which is designated for a specific use by or under an Act of Parliament, or used by an Indian or Inuk.

Federal Property - Improvements (Payment in Lieu of Taxes Act)
In general federal property includes improvements that are designed primarily for the shelter of people, living things, fixtures, personal property or movable property. An improvement such as a penitentiary wall would not fall into this category and so would not be considered “federal property”.

Federal properties, which are improvements, must fall into one of the following categories to be subject to payments in lieu of taxes:

• owned by the Crown federal on federally owned land;
• owned by the Crown on tax exempt land that is neither owned by the Crown federal nor administered by the Crown provincial;
• owned by a corporation listed in Schedule III or IV to the PILT Act on land owned by that corporation;
• owned by the Crown provincial and occupied by the Crown federal (e.g., space in provincial government land and improvements leased to the federal government);
• owned by the Crown federal and situated on tax exempt land that is neither owned by the Crown federal nor administered by the Crown provincial.

Expressly Included Improvements:

• outdoor swimming pools
• golf course improvements
• driveways for single-family dwellings
• paving or other improvements associated with employee parking
• outdoor theatres
• elevators and escalators
• roads that provide immediate access to parent parcel (land only, not paving).

Expressly Excluded Improvements:

• a public highway unless its primary function is to provide immediate access to real property owned by the Crown federal
• canal structures – walls and locks
• conveyor belts and conveyance systems, including moving sidewalks (except elevators and escalators)
• dry-docks
• fortifications, including:
• ramparts, retaining walls, stockades and outer works, escarp walls, courtyard walls, postern tunnels, sally ports, underground tunnels, underground magazines, earth ramparts, guy emplacements, parapets, banquettes, fraises, terre-plain, drawbridges, entrance gates, guerite, machicolation, musketry galleries, ditches, moats, counterscarp galleries, caponniers, mine galleries, glacis, ravelin, reverse fire galleries, entrance cuttings, stockades, embrasures, barbettes, casemates, demi-casemates and lunettes
• letter sorting equipment
• computers
• built in cranes
• lathes
• drills,
• printing presses
• weigh scales
• gasoline pumps
• gun butts
• monuments
• penitentiary walls and fences
• pole lines and transmission lines
• light standards
• unenclosed communications towers
• unenclosed lighthouses and range lights
• reservoirs
• storage tanks
• fish-rearing ponds and fish ways
• roads and sidewalks
• aircraft runways
• paving (but refer to deemed inclusion of some paving)
• railway tracks
• Snow sheds
• tunnels
• bridges
• dams
• water mains
• sewer mains
• docks, wharves, piers, piles, dolphins, floats, breakwaters, retaining walls, jetties .

Fee Simple Estate (The Dictionary of Real Estate Appraisal, 4th ed.)
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat.

Fee Simple Interest (The Appraisal of Real Estate, Second Canadian Edition)  
The most complete form of ownership (absolute ownership) unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental power of taxation, expropriation, police power and escheat/ bundle of rights.

File (Assessment Act)
Section 1 (definitions) of the Assessment Act, provides the following definition.

In relation to a notice or record required to be filed with an assessor, the board or assessment authority, includes mail or leave with the assessor, board or assessment authority or deposit in the mail receptacle at their office.

Although “mail” in the Interpretation Act refers to Canada Post, the Assessment Act uses inclusive language, so filing by e-mail is an acceptable means of filing a notice of complaint. Faxing to the area office is also an acceptable means of filing.

First Sale (BCA)
Residential strata properties which are “pre-sold” may reflect “below market” pricing; Developers may use this strategy for the first few sales to encourage interest in their project.

Floating Home (MAL)
A structure built on a floatation system which is used for permanent residential habitation and is not intended for navigation, nor usable as a navigable craft.

Floating Home Community (MAL)
Two or more floating homes which are physically connected to the shoreland and to each other by a common walkway or ramp, and which are serviced by a potable water system, electrical system, and sewage disposal system approved by the responsible authority.

Folio (BCA)
A collection of data, identified by a roll number, that consists of ownership, actual value and other information required for assessment purposes. The data in a folio usually describes one parcel and any improvements on it. A folio may describe multiple parcels and their improvements, or a portion of a parcel and/or the improvements on such a parcel. Folio is synonymous with (Assessment) Roll Number.

Folio Count (BCA)
Reports the total number of active folios appearing on the roll (includes reference folios).

Foreclosure Sale (Black’s Law Dictionary Abridged 7th Ed – BCA Modified)
The sale of a mortgaged property resulting from mortgage foreclosure, authorized by a court decree or a power-of-sale clause, to satisfy the debt. Refer to Reject Sale.

Forfeiture (Ministry of Finance - Property Taxation Branch)
Forfeiture is the transfer of ownership of privately owned real property to the provincial Crown, due to the non-payment of rural property taxes.

Funeral Services (Cemetery and Funeral Services Act)
“the arrangements, care and preparation of human remains for interment, cremation or other disposition and includes the supply of goods incidental to the arrangements, care and preparation, but does not include the sale of lots”.

Furniture, Fixtures, and Equipment (FF&E) (The Dictionary of Real Estate Appraisal, 4th ed.)
The movable property of a business enterprise not classified as stock or inventory or leasehold improvements; frequently found in the ownership of hotels or motels, restaurants, assisted-living facilities, service stations, car washes, greenhouses and nurseries, and other service-intensive properties. Furniture, fixtures, and equipment frequently wears out much more rapidly than other components of those properties.

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General Retail Property (BCA)
All retail Occupancies which are not included in a shopping centre.

Golf Course - Championship (BCA)
The Championship course is 6,500 to 7,100 yards in length and is the most difficult of all styles. It has a similar hole mix to the Regular course but is longer and contains more obstacles.

Golf Course - Driving Range (BCA)
Enclosed or open or grass facilities where golf is practiced.

Golf Course – Executive (BCA)
The Executive course is usually between 4,000 and 5,200 yards in length. It is likely to be found in areas where large tracts of land are scarce and, depending on its length, can be built on 50 to 70 acres of land. The hole mix for the Executive course is usually six to ten part 3’s, eight to twelve par 4’s and an occasional, short par 5.

Golf Course- Par 3 (BCA)
An average Par 3 is between 1,000 and 3,000 yards in length. It is generally the least challenging, often lacking in obstacles to the golfer. A Par 3 course caters to beginners and seniors.

Golf Course - Regular (18+ holes) (BCA)
The Regular course, which can be municipally or privately owned, is usually between 5,800 and 6,600 yards in length. It encompasses an area of land between 115 and 130 acres. This 72 par course is usually comprised of four par 3’s, ten par 4’s and four par 5’s. Sand traps, mounds and water hazards are more frequent on Regular courses.

Golf Revenue (BCA)
All sources of income related to golf – green fees, memberships, tournament income – excludes initiation fees.

Goodwill (Black’s Law Dictionary Abridged 7th Ed)
A business’s reputation, patronage, and other intangible assets that are considered when appraising the business, esp. for purchase; the ability to earn income in excess of the income that would be expected from the business viewed as a mere collection of assets.

Goodwill Value (The Dictionary of Real Estate Appraisal, 4th ed.)
The value attributable to goodwill.

Going Concern (The Dictionary of Real Estate Appraisal, 4th ed.)
An operating business enterprise that is expected to continue. (USPAP, 2002 ed.).

Going-Concern Value (The Dictionary of Real Estate Appraisal, 4th ed.)
The market value of all the tangible and intangible assets of an established and operating business with an indefinite life, as if sold in aggregate; also called value of the going concern.

Government/Expropriation Sale (BCA)
The property was purchased from a private individual or corporation by government for government or public purposes (e.g. public works, roads, hazard issues). The vendor’s motivation would be atypical.

Gross Building Area (GBA) (BOMA, 1996 & BCA)
The total constructed area of a building. This area is computed by measuring to the outside finished surface of permanent outer building walls. It includes all enclosed floor areas of the building including basements, mechanical rooms etc. GBA is only quoted by Landlords and Property Managers when an entire building is leased to a single tenant.

Gross Leasable Area (GLA) (BOMA 1996 BCA modified)
In general GLA will be equivalent to Floor Rentable Area as defined by BOMA. Floor Rentable Area is the gross measured area of a floor less the area of major vertical penetrations (e.g. ventilation shaft, elevator shafts & stairs). Total Building GLA is equivalent to Building Rentable Area or sum of all Floor Rentable Areas.

However, since GLA is reported on a different basis by property owners throughout B.C., the reported rentable area will be adopted as GLA-Office. All properties (Income Records) linked to an Office Model will:

• have the same floor measurement standard applied
• be valued with economic rates determined on the same floor measurement standard.

Gross Leasable Area (GLA) - RETAIL (BCA)
The total floor area designed for the Occupancy and exclusive use of tenants, including basements, mezzanines; measured from the centre of partitions that separate the store area from the adjoining store area and to the outside finished wall surface. Where there are recessed entrances or similar deviation from the building line this area within the building line is measured in the GLA. Since variability exists in the measured GLA, as defined in retail lease agreements, the store rentable area reported by the building owner or manager will be the GLA.

Note: this definition departs from BOMA standards but is consistent with B.C. industry standards.

Gross Leasable Area (GLA) - INDUSTRIAL (Society of Industrial & Office Realtors-BCA Modified)
In general, GLA Industrial will be based on SIOR standards, as follows.

Single Occupancy Buildings: The Ground and upper floors are measured from the exterior wall face to the exterior wall face including the area of any projections.

Multiple Occupancy Buildings: The Ground and upper floors are measured from:

(a) the exterior wall face to the exterior wall face;
(b) to the centre of demising walls between tenant spaces;
(c) to the tenant side of the wall face of common area walls; and
(d) including the area of any projections, e.g., columns.

However, since GLA Industrial is reported on a different basis by property owners throughout B.C., the reported floor area will be adopted as Office GLA. All properties (Income Records) linked to an Industrial Model will:

• have the same floor measurement standard applied
• be valued with economic rates determined on the same floor measurement standard.

Gross Leasable Area (GLA) OFFICE (BOMA 1996– BCA Modified)
In general, GLA will be equivalent to Floor Rentable Area as defined by BOMA. Floor Rentable Area is the gross measured area of a floor less the area of major vertical penetrations (e.g. ventilation shaft, elevator shafts & stairs). Total Building GLA is equivalent to Building Rentable Area or sum of all Floor Rentable Areas.

However, since GLA Office is reported on a different basis by property owners throughout B.C., BCA practice will be to adopt the floor area reported by owners/managers as GLA Office. All properties within a Competitive Market Set will:

• have the same floor measurement standard applied
• be valued with economic rates determined on the same floor measurement standard.

Guest Suite (BCA)
A room used by guests of residents for a daily fee. Some facilities provide this for potential residents to try out the facility.

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Half Storey (BCA)
The topmost (above grade) floor in a building that is resident over an existing storey with oblique walls or vertical walls less than 8 feet but greater than 4½ feet in height. This habitable space is available under the same roof as necessary to cover the storey below and should provide a ceiling height sufficient for the average person to stand comfortably. Access to the ½ storey is provided by a full staircase originating from the storey below.

Heritage Site (Heritage Conservation Act)
Land, whether designated or not, including land covered by water that has heritage (cultural) value to British Columbia, a community or an aboriginal people.

In British Columbia, heritage sites are commonly related to First Nations use and occupancy. Section 13(2) of the Heritage Conservation Act defines several categories of sites that are automatically protected. These include burial sites, aboriginal rock art, and any site containing artifacts, features, materials or other physical evidence of human habitation or use before 1848. Common pre-1846 sites include shell middens, habitation sites and older culturally modified trees, rock painting or rock carvings.

Designated Heritage Site (Heritage Conservation Act)
A heritage site designated under section 9 of the Heritage Conservation Act or a Provincial heritage property established under section 23 of this Act. In most cases, this designation is applied to heritage properties. Examples include Hudson’s Bay Trading Houses, historic public buildings (e.g. Provincial legislature, court-houses), heritage homes and historic railway stations.

Since section 11 of the Heritage Conservation Act requires government to compensate an owner of the designated property if designation results in a reduction in the market value of the designated property, properties are rarely designated in BC.

Designated heritage sites are recorded in the Land Titles system.

Non-Designated Heritage Site (Heritage Conservation Act)
All other types of heritage sites (see definition above), not designated. The vast majority of heritage sites in BC are non-designated. While it is important to have a general awareness of the distinction between ‘designated’ and ‘non-designated’ heritage sites, all known heritage sites (as defined in the Heritage Conservation Act) are given the same level of legal protection from disturbance.

Non-designated sites are not recorded in the Land Titles system.

Municipal Heritage Site (Local Government Act)
Section 967 of the Local Government Act and section 593 of the Vancouver Charter enable municipalities to designate heritage sites. The content of these provisions, regarding designated heritage sites, is similar in content to the provisions of the Provincial Heritage Conservation Act.

Provincial Heritage Sites and Objects Register (Ministry of Tourism, Sport and the Arts).
This register is maintained by the Archaeological Site Inventory Section of the Ministry of Tourism, Sport and the Arts. It is the authoritative source for all recorded heritage sites in BC. The register contains information on the location and type of site or object provincially designated, as well as the designating Order in Council number and information as to where more details can be obtained. The register also contains an inventory of all known archaeological sites that are protected under section 13 of the Heritage Conservation Act. There are currently approximately 30,000 such sites in the inventory.

Heterogeneous (IAAO- BCA Modified)
A descriptor generally applied to single family residential neighbourhoods with a diversity of construction types, features, and age of housing. A heterogeneous neighbourhood is more commonly encountered in rural areas.

Hi-Rise (BCA)
Any Rental Apartment 5 stories or greater in height. Includes properties which may also be referred to as Mid-Rise.

Highest and Best Use (Appraisal of Real Estate 2nd Canadian Edition, 2002)
That reasonably probable and legal use of vacant land or an improved property that is physically possible, legally permissible, appropriately supported, financially feasible, and that results in the highest value.

Home Based Business (BCA)
A high visibility business use which is carried out property which is primarily intended for residential use, either in the main residence or other buildings located on the property.

Homogeneous (IAAO – BCA Modified)
A descriptor generally applied to single family residential neighbourhoods where there are several groups of homes that are all relatively or reasonably similar in age, construction, and features. A homogeneous neighbourhood is more commonly encountered in urban and suburban areas.

Hotel (The American Heritage Dictionary of the English Language, Fourth Edition)
An establishment that provides lodging and usually meals and other services for travelers and other paying guests.

Hotel Categories (BCA)
The following sub-categories are available for identifying distinct hotel-motel Models (e.g. Competitive Sets), where necessary:

• Limited service

• Full Service
• Economy/budget
• Hostel/ SRO ( single room occupancy in class 6)
• Suite.

Hotel - Economic Rate (Market Rate) (BCA)
The Economic Rate is equivalent to the unadjusted average daily room rate observed over the yearly operating period for typical hotel-motel properties (Occupancies) in a specific hotel-motel Competitive Market Set (Model). The Economic Rate (average daily room rate) will reflect typical facilities, amenities and services provided by the hotels/motels in the Competitive Market Set.

Hotel REVPAR (Pannell Kerr Forster)
Room revenue divided by rooms available. Hotel occupancy times average room rate will approximate a property’s RevPar.

Hotel Vacancy (BCA)
Vacancy is the inverse of stabilized Hotel-Motel occupancy.
Conversion from industry or local market information will be required to state an Economic Vacancy equivalent.  

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Improvements (BCA)
Any building, fixture, or other similar structure attached to land or another improvement. An improvement is defined by Section 1 of the Assessment Act as: "Any building, fixture or structure on or in land (or water over land) or on or in another improvement, but does not normally include any of the following:
a) production machinery;
b) anything intended to be moved as a complete unit in its day to day use;
c) furniture and equipment that is not affixed for any purpose other than its own stability and that is easily moved by hand".

Input Tax Credit (Canada Customs and Revenue Agency – Glossary)
A credit which GST/HST registrants may claim for GST/HST paid or payable on purchases relating to a commercial activity.

Incurable Defects (Interpretation Act)
A defect that cannot be cured is one that goes to the substance of the matter. The substance of a complaint against an assessment is at least twofold; an identification of the property; and secondly, the identity of the person making the complaint. Without these pieces of information, there is no way for BCA to know the case it has to meet.

Independent Living (BCA)
Apartment-style accommodations that provide supportive services such as meals in a communal dining room, light housekeeping and flat linen service, 24-hour emergency response and organized activities. These facilities are not licensed and cannot provide any nursing assistance. Residents must be fairly independent, cognizant and mobile.

Industrial Automotive Property (BCA)
Industrial Automotive Properties include:

• All Auto Service Stations including the following Self-Service configurations:

• Service Station / C-Store Kiosk
• Service Station / QSR Kiosk
• Service Station / Auto Repair
• Service Station / Car Wash

• All Auto Service Centres, including the following configurations:
• Mini-Lube
• Auto Service Centre (including auto detailing & installation of accessories)
• Auto Body Repair & Paint
• Auto Dealerships and Auto Sales properties.

Industrial Land Use (Contaminated Site Regulation)
The use of land for the primary purpose of conducting industrial manufacturing and assembling processes and their ancillary uses including, without limitation, factories, metal foundries, wood treatment facilities, mines, refineries, hydroelectric dams, metal smelters, automotive assembly plants, rail car or locomotive maintenance facilities, rail yards, non-retail breweries and bakeries, roads and highways, wastewater and sewage treatment plants, electrical transformer stations and salvage yards

Intangible Assets (The Dictionary of Real Estate Appraisal, 4th ed.)
Non-physical assets such as franchises, trademarks, patents, copyrights, goodwill, equities, mineral rights, securities, and contracts (as distinguished from physical assets) that grant rights and privileges, and have value for the owner.

Intangible Personal Property (The Dictionary of Real Estate Appraisal, 4th ed.)
Property that has no physical existence beyond merely representational, nor any extrinsic value; includes rights over tangible real and personal property, but not rights of use and possession. Its value lies chiefly in what it represents. Examples include corporate stock, bonds, money on deposit, goodwill, restrictions on activities (for example, patents and trademarks), and franchises.

Interest During Construction (IDC) (BCA)
The cost of borrowing money to meet project construction expenditures. Interest During Construction is applied to the Facility based on the total RCN of the Facility.

Interim Sale Date (BCA)
The date on which the vendor and purchaser entered into a contract of purchase and sale.

Interim Use (BCA)
Temporary uses to which a site or one can put improved property until it is ready for its future highest and best use, which is generally less than three years.

Interim uses therefore are improvements whose income has a net present value above the net present value of holding a site as if vacant for a perceived future highest and best use. The future highest and best use must be predictable with a reasonable degree of reliability; and maximize a site's value. This implies that the future highest and best use would be relatively superior to (or more intense than) the interim use.

Internal Inspection (BCA)
Used to describe the job function done by a BCA appraiser when they visit a property to inspect the building inside and out for the purpose of collecting or verifying the physical property characteristics.

Land (Section 1(1), 1(2) Assessment Act)
Section 1(1) defines Land as:

• land covered by water
• quarries, and
• sand and gravel.

Section 1(2)d further defines improvements as any:
(i) piling, retaining walls and bulkheads, and
(ii) water system, storm drainage system and industrial or sanitary sewer system, the value of which is not included by the assessor in the value of the land;

Land Rates for serviced lots will include the value of local or municipal water, storm drainage and sewer systems.

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Land Assembly (BCA)
The property was bought/sold with the goal of “assembly” with nearby property to create a new parcel of sufficient size to achieve maximum density. The sale price may reflect an additional premium assigned by the market for “bonus density” achieved upon assembly.

Land Characteristic (BCA)
A land characteristic describes a feature of the land component. (Refer to: Property Viewer, Land Tab, Land Characteristics Spreadsheet dropdown box).

NOTE: In valueBC, the term ‘Characteristics’ is intended to replace, enhance and further stratify property attributes previously included in Unique Property Characteristics (UPC Codes) and Property Characteristics.

Characteristics are used to trigger percentage or lump sum adjustments to a land component or structure, (e.g. similar in function to RIS and LCS CAMA provided in CAPAS). Refer to: Land Characteristic Definitions Table below.

Land Characteristic Adjustment (BCA)
This adjustment is an addition to or reduction of value applied in order to reflect a land feature that is not included in the rate amount for a typical lot.

Land related adjustments may be associated with a Default Land Characteristic, Land Characteristic Adjustment or Manual Adjustment.

Default Land Characteristic: a land characteristic that is applied to a land component the first time the rate code is keyed to that land component, (e.g. underground wiring or curb and gutter). Default Characteristics are defined in the specific rate code. (Refer to: Rate Viewer, Land Rate Tab, Characteristic Spreadsheet).

NOTE: If the rate code is changed for any reason, the Default Land Characteristics will remain. Therefore the land characteristics must be reviewed whenever the rate code is changed.

Land Characteristic Adjustment: The rate viewer provides the functionality to apply a Land Characteristic adjustment to folios which contain a specific characteristic. (Refer to: Rate Viewer, Land Characteristic Adj Tab, Land Characteristic Field).

Manual Adjustments: An adjustment applied at the land component level to account for a unique feature, e.g. typical lots have a good view but the property has a prime view and requires additional adjustment. (Refer to: Property Viewer, Land Tab, Manual Adjustment Spreadsheet).

Land on Which the Building Stands (Assessors of Area 20 and 23 v. Interior Health Authority (2006, Stated Case 499, BCSC)
… the "land on which the building stands" is the footprint of the building or buildings of the hospital, but not the surrounding land. Otherwise, there would be no need for the legislature to have included as separate exemption "the land surrounding the building" because that area would have been included in the former phrase.

Land Title and Survey Authority (LTSA) (LTSA of BC)
The Land Title and Survey Authority is an independent corporation responsible for maintaining the land title and survey systems of British Columbia. The Land Title Division (sometimes still referred to as LTO for its previous name of land title office) is responsible for the acquisition, maintenance, and provision of access to Land Title information for the province. The Land Title Registry is BC’s official legal record of property ownership.

Lease (The Appraisal of Real Estate, Second Canadian Edition)
A written document in which the rights to use and occupy land or structures are transferred by the owner to another for a specified period in return for a specified rent.

Lease Interest (The Appraisal of Real Estate 2nd Canadian Edition)
The interest held by the lessee (the tenant or renter) through a lease conveying the rights of use and occupancy for a stated term under certain conditions.

Lease Summary/Lease Abstract/Lease Profile (BCA)
A detailed summary of a specific lease including tenant name, unit number, square footage, rent including increases, start date, term, tenant inducements, etc.

Leasing Commissions (BCA)
Commission paid to a leasing agent by an owner as compensation for the procurement of a lease. When leasing fees are spread over the term of a lease or lease renewal, they are treated as a variable operating expense. Initial leasing fees usually fall under capital expenditures for development and are not included among periodic expenses. They are typically 5% to 6% of the base or minimum rent for the term of the lease. For example say the rentable area is 5,000 sq ft for a 5 year term and the base rent is $20.00 per sq ft. The total rent paid over the 5 year period would be $500,000. Therefore, the lease commission would be in the range of $25,000 to $30,000 for this transaction.

Legislated Records (BCA)
Recording showing on the Legislated tab in the Property Viewer; Timber, CRS, Farm, and MIPS records.

License (Black’s Law Dictionary 1990)
A license of real property is a privilege to go onto premises for a certain purpose, but does not operate to confer on, or vest in, licensee any title, interest, or estate in such property.

Licensed Care (BCA)
Care facilities that are licensed either through the Community Care and Assisted Living Act or as Private Hospitals under Part 2 of the Hospital Act. They are either publicly funded through the Ministry of Health or private-pay. Care facilities are licensed to provide 24-hour nursing car, all meals and snacks, housekeeping, laundry services and organized activities.

Listing (BCA)
An offering of a property for sale, generally associated with a Multiple Listing Service.

Lo-Rise (BCA)
Any Rental Apartment 4 stories or less in height.

Lodge (BCA)
A type of tourism accommodation offering several rooms under one roof with common areas for meals and other activities. In many cases they are offered as a package program including the sale of accommodation, meals and specialized services for a single all inclusive price.

Lot (BCA)
Any portion, piece, division, or parcel of land. A quantity of land held by an owner.

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Major Industrial Property (MIP) (BCA)
A MIP is a property as defined under s. 20 of the Assessment Act and not excluded by the Exemption from Industrial Improvements Regulation (BC Reg 97/88).

Market Rental Rate (REALPAC AIC-R-1.01-2001)
The most probable Rent which a leased property should bring for the relevant lease term in a competitive and open market under all conditions requisite t a fair lease transaction, the lessee and lessor each acting prudently and knowledgeably, and assuming the Rent is not affected by undue stimulus between the parties. Implicit in this definition is the consummation of a lease transaction as of a specified date and the passing of occupancy from lessor to lessee under conditions whereby:

• Lessee and lessor are typically motivated;
• Both parties are well informed or well advised, and acting in what they consider their best interests;
• A reasonable time is allowed for exposure in the open market;
• Payment is made in terms of cash in Canadian dollars or in terms of financial arrangements comparable thereto;
• The Rent represents the normal consideration for the leased property in its highest and best use, unaffected by special or creative leasing incentives or allowances granted by anyone associated with the lease transaction; and,
• The prospective lessee is not then in occupation of or has no obligation in respect of the building.

Market Value (BCA)
The most probable price which a property should bring in a competitive market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus.

Managed Forest Land (Assessment Act s. 24)
Means land, other than farm land,
(a) that is being used for the production and harvesting of timber,
(b) that is managed in accordance with
(i) the Private Managed Forest Land Act and the regulations under that Act, or
(ii) the Forest and Range Practices Act,
(c) in respect of which
(i) there is a management commitment under section 17 of the Private Managed Forest Land Act, or
(ii) a management plan has been approved under the Forest Act,
(d) with respect to paragraphs (b) (i) and (c) (i), for which the assessor
(i) receives notification from the council under section 17 (4) of the Private Managed Forest Land Act, and
(ii) has not received notification from the council under section 31 (1) or (2) (b) of the Private Managed Forest Land Act, and
(e) that meets other requirements prescribed by regulation of the commissioner for classification of land as managed forest land under this Act;

(4) The actual value of managed forest land is the total of:
(a) the value that the land has for the purpose of growing and harvesting trees, but without taking into account the existence on the land of any trees, and
(b) a value for cut timber determined in accordance with subsection (8).

Manager / Caretaker Suite (BCA)
A living unit in a senior’s housing facility that may be occupied by the manager/caretaker for a reduced rent or no charge. This may either be a room or a suite.

Manifest (Black’s Law Dictionary, 5th ed.)
Evident to the senses, especially to the sight, obvious to the understanding, evident to the mind, not obscure or hidden, and is synonymous with open, clear, visible, unmistakable, indubitable, indisputable, evident, and self-evident.

Manse (BCA)
Residence of a clergyperson.

Manufacture (BCA)
“Manufacturing” is an activity that creates end products different in form, qualities or properties from the original materials. The manufacturing process can involve other activities that, although not in themselves manufacturing, are so integral to the manufacturing activity that they become part of the manufacturing.

Manufactured Home (Manufactured Home Tax Act)
Subject to sections 3 and 4, a manufactured home, whether or not if falls within the definition of an improvement under the Assessment Act, Community Charter, School Act, Taxation (Rural Area) Act, Vancouver Charter, or any other Act, is an improvement for the purposes of real property assessment and taxation under the relevant Act and, except as provided in section 3, must be assessed and taxed in the name of the owner of the land on which the manufactured home is located at the time of the assessment.

Manufactured Home – RV Park (Manufactured Home Tax Act)
A Manufactured Home Park is “land used or occupied by a person for the purpose of providing space for the accommodation of 3 or more manufactured homes and for imposing a charge or rental for the use of the space”.

However, in the context of this Policy, a Manufactured Home Park must also be a going-concern. A Highest and Best Use analysis will be necessary to establish whether the Manufactured Home Park provides sufficient income (or potential income) for application of the Income Method.

NOTE: Most Manufactured Home Parks offered for sale contain at least 10 pads for Manufactured Home rental and may also include 20 or more RV sites or campsites.

Marina (http://www.marisafe.com/resources/boatdictionary.asp)

A marina is a facility for temporary or permanent boat mooring, consisting of docks, floats or piers and services such as fuel and ship's stores.

A boat basin that provides dockage and other services to pleasure craft. A structure along which vessels can be held or docked for loading and unloading; usually constructed parallel to the shoreline. If the long side of the dock extends into the water from the shore, it is called a pier.

Marina – Large (BCA)
A facility with 100+ slips.

Marina – Small (BCA)
A facility with less than 100 slips.

Market Study (BCA)
Documented market research to support valuation adjustments (e.g. size curve or non-variable adjustment) applied at the Model and/or Income record (folio) level. A template will be provided for consistent documentation of Market Studies.

Market Value (BCA)
Section 19 (1) of the Assessment Act of British Columbia, RSBC 1996, Chapter 20, defines Actual Value as “the market value of the fee simple interest in land and improvements.” The Court of Appeal of British Columbia in Standard Life Assurance Co. v. Assessor of Area 01 - Capital [1997] (BCCA), determined that the fee simple interest includes all interests in land, or the unencumbered fee simple interest.

Market value is defined as “the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus .

Maximum GST Rebate – New Housing (Canada Customs and Revenue Agency – Glossary)
As of July 1, 2006, the maximum new housing GST rebate has been reduced from $8750 to $7560.

Minor Taxing Jurisdictions (BCA)
Areas for which services are provided comprise regional districts, regional hospital districts (formerly Health Boards), specified, defined, local/extended/service areas, improvement districts, etc. Areas are identified on the database by a code. Coding of these areas defines the base by which service areas levy their taxes for the ratepayers who benefit from the service provided.

Miscellaneous Subdivisions (BCA)
The various easement, reference, or statutory right-of-way plans associated with a subdivision.

Moderate (BCA)
Single family dwelling built after 1930. This class provides housing at a moderate cost. It will include a few refinements in limited quantity. The class satisfies minimum CMHC standards and is usually built by speculators to meet the basic housing market. Moderate falls between Fair and Average.

Moorage and Ancillary use Rental Rate (BCA)
Marinas generate two income streams:
a)         Rental Income from moorage berths (real estate income)
b)         Marina Income – boat rentals, gas sales etc. (business income).

Marina Income is not included in the calculation of potential gross income. However, a rental rate for the space used to generate “marina income” will be included in the valuation, through application of a separate Retail-General model.

The total Potential Gross Income (rental) for a marina is the boat moorage which a marina operation could receive in a given year. This amount is calculated as follows:

PGI = (lineal ft moorage @ monthly open moorage rate x monthly rate) +
(lineal ft of moorage @ monthly open moorage rate based on prepaid, annual, non-discounted payment x monthly rate) x number of operational months.

Multi-Property Sale (BCA)
A transfer of property or title involving more than one parcel.

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Necessarily Incidental (Abbotsford Flying Club v. Assessor of Area 15 – Langley/Abbotsford (1994, AAB)

The meaning of this term has been considered by the Board in a case dealing with meeting halls. In that case the Board said… the words … are meant to cover the facilities necessary to support the operation of a meeting hall such as a parking lot, washrooms, cloakrooms, and perhaps kitchen facilities. It is not intended to include all of the other premises owned by the non-profit fraternal organization used in the furtherance of the objects of the society but only those facilities actually used as a meeting hall, along with the facilities necessarily incidental to the use of the meeting hall as a meeting hall.

NOTE: The same analysis should be employed when deciding if an area is “necessarily incidental” to a place of public worship.

Net Leasable Area (NLA) (BOMA equivalent to store rentable area)
NLA will be the store rentable area as reported by building owner or manager due to the variation in space measurements standards across B.C.

In general this area is computed by measuring the area enclosed by: the building line in case of the street frontage; (include recessed entrances and exclude bay windows extending outside building line) the finished surface of the store side of corridors and other permanent walls; and the center of partitions that separate the store area from adjoining store areas.

Note: this definition departs from BOMA standards but is consistent with BC Industry Standards.

Net Lease (BOMA 1996) (Dictionary of Real Estate Appraisal 4th edition)
A net lease is a lease which defines the expenses to be paid by the tenant. Typically, the tenant assumes all expenses of operating the leased premises, including both fixed and variable expenses and the proportional share of any common area maintenance and taxes.

The landlord is typically responsible for structural repairs, marketing, and insurance (for building shell).

Tenant may pay:
-operating expenses related to premises
-proportionate share of taxes and common area maintenance

Owner-Landlord may pay:
-structural repairs
-structural insurance
-management
-tenant expense obligations if vacant

The lease will be absolute net when the tenant pays 100% of all property taxes, insurance, structural repairs, management, maintenance, etc. associated with the Industrial property.

BCA analyzes comparable leases for a specific Competitive Market Set to a “turnkey” basis for consistency of analysis and to reflect all interests in land and improvements.

New Construction (BCA)
Any change in value that is not market movement. It can be a positive or a negative dollar amount. It includes, but is not limited to items such as new found inventory, new improvements, newly created parcels of land, cut timber, demolished or removed improvements, deleted parent parcels in a subdivision, zoning changes, and classification changes. Boundary expansions are deemed to be new construction and development. Changes which are a result of appraiser judgment are market movement and not recorded on the system. To record new construction there are a series of codes that categorize the type of new construction.

Non-Market Change (BCA)
Changes in property value as a result of:

• new construction authorized under local building authority permit (permitted improvements)
• new construction which occurs in an area with no local building permit authority
• property class changes
• exemption changes
• new development or "size" changes to land - including subdivisions, land assemblies and consolidations (Plans Cancellations); new/expired tenures on Crown/exempt land; and
• Zoning changes (e.g. changes that increase or decrease density, use & resulting property value).

Non-Profit Organization (BCA)
A non-profit organization is defined as a society constituted under the Society Act, RSBC 1996, c. 433, as amended or federal legislation. Section 2 below, identifies the scope of a society.

2(1) A society may be incorporated under this Act for any lawful purpose or purposes such as national, patriotic, religious, philanthropic, charitable, provident, scientific, fraternal, benevolent, artistic, educational, social, professional, agricultural, sporting or other useful purposes, but not for any of the following:

(a) the operation of a boarding home, orphanage or other institution for minors, or the supplying of any other form of care for minors without the written consent of the director designated under the Child, Family and Community Service Act for the purposes of this section;

(b) the ownership, management or operation of a hospital without the written consent of the Minister of Health;

(c) the ownership, management or operation of a social club without the written consent of the minister;

(d) the purpose of paying benefits or rendering services as described in section 14 without the written consent of the Superintendent of Financial Institutions;

(e) any purpose without the consent of an existing society should the registrar require it;

(f) the purpose of carrying on a business, trade, industry or profession for profit or gain.

(2) Carrying on a business, trade, industry or profession as an incident to the purposes of a society is not prohibited by this section, but a society must not distribute any gain, profit or dividend or otherwise dispose of its assets to a member of the society without receiving full and valuable consideration except during winding up or on dissolution and then only as permitted by section 73.

• There may be other non-profit organizations that are not societies, but these organizations will require further investigation and cannot be assumed to be non-profit in the same sense as registered societies. Contact Legal Services if questions arise about the status of a specific organization.

Non Sale (BCA)
A non-sale is a property transaction for an amount less than or equal to $1.00 or a name change.

Number of Roll Entries (BCA)
Includes a count of one for each folio plus one for each additional name and address set (includes all recorded interested parties - mortgage companies, leases, agreements for sale, etc). It does not include overflow legal or value entries.

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Occupancies (BCA)
A category of like improvements with an associated Competitive Market Set.

Occupier (Assessment Act)
(a) a person who, if a trespass has occurred, is entitled to maintain an action for trespass,

(b) the person who is in possession of Crown land that is held under a homestead entry, pre-emption record, lease, license, agreement for sale, accepted application to purchase, easement or other record from the Crown, or who simply occupies the land,

…

, or

(e) in relation to land that

(i)  is Crown land, land the fee of which is in a municipality or land the fee of which is in, or held on behalf of, a person who is exempted from taxation under an Act, and

(ii)  in ordinary conditions

(A)  is covered by non-tidal water, or
(B)  sometime during a calendar year is covered by tidal water,

a person who is entitled under a licence or lease to possess or occupy, or who simply occupies, the land, the water covering the land or the surface of the water covering the land;

Occurrence (Actual Value) (BCA)
The number of instances in a taxing jurisdiction of a specific property class, including the residential sub-categories.

Omission (Black’s Law Dictionary, 5th ed.)
The neglect to perform what the law requires; the intentional or unintentional failure to act which may or may not impose liability depending upon the existence of a duty to act under the circumstances.

Outbuilding (BCA)
An outbuilding is a detached structure that cannot be costed in any other Viewer or Tabs, e.g. sheds or barns. The minimum size of outbuildings to be costed will be based on the Marshall Swift minimum standard of 40 ft2.

Outliers (IAAO)
Observations that have unusual values. That is, they differ markedly from a measure of central tendency. Some outliers occur naturally; others are due to data errors.

Overnight Accommodation (BCA)
Any strata residential unit which is available to the public for temporary overnight accommodation.

Owner/manager (BCA)
Resident owner or resident manager of a single family residence which offers overnight accommodation. For example, a leased B&B property with a resident manager will meet the requirement for an owner/manager.

Owner (Assessment Act)
In respect of real property, means the registered owner of an estate in fee simple, and includes:

(a) if a person is a registered owner of a life estate, the tenant for life,
(b) if there is an agreement for sale and purchase of the real property, the registered holder of the last registered agreement for sale and purchase, and
(c) if the real property is held or occupied in the manner referred to in sections 26, 27 and 28 [of the Assessment Act], the holder or occupier.

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Parcel (Assessment Act, s. 1)
A lot, block, or other area in which real property is held or into which real property is subdivided and includes the right or interest of an occupier of Crown land but does not include a highway or portion of a highway.

Parent Parcel (BCA)
When a larger parcel is subdivided into smaller lots, then the original larger parcel is called the parent parcel. The parent parcel may be totally divided up by the new subdivision and therefore cease to exist as a legal entity, or just portions of the parent parcel may be subdivided off.

Parking - Ancillary (Miriam Webster Online)
1: subordinate, subsidiary
2: auxiliary, supplementary

For example, fee parking improvements cover a wide size and design range. Appraiser discretion will be required to determine whether the amount of fee parking is sufficient to warrant application of a Parking Improvement model.

Parking Unit (BCA)
A Unit of Measure equivalent to a typical parking stall associated with a specific Parking Occupancy. There is a range of parking stall sizes within parking lots and parkades depending on factors such as provision of angle vs. perpendicular parking arrangements, need for handicapped stalls, bicycle or motorcycle storage, and age of parking lot (parking stall size has changed over the years). It will be necessary to account for this variation in analysis of Economic Rates for various Parking Occupancies.

Partial Interest Sale (The Appraisal of Real Estate 2nd Canadian Ed – BCA Modified)

• The purchase of a divided or undivided right in real estate that represent less than the whole.
• Sale of a part interest in a property (e.g. one tenant in common sells interest to other tenant(s) or new party). Note: If sale of partial interests is common in a specific market (e.g. resort properties where each strata lot has multiple owners) it will be necessary to track partial interest sales.
• A sale of less than 100% interest in a property (e.g. single owner sells to one or more parties to create tenancy in common).
• Refer to Reject Sale.

Pass Throughs (officespace.com)
An increase in operating expenses over the base year amount that is billed to the tenant as additional rent. See escalation.

Percentage Rent (The Appraisal of Real Estate, Second Canadian Edition)
Rental income received in accordance with the terms of a percentage clause in a lease. Percentage rent is typically derived from retail tenants and is based on a certain percentage of their sales revenue.

Permit (Assessment Act)
Any document issued by a person with authority empowering the grantee to do some act not forbidden by law, but not allowable without such authority.  Permits are typically issued for a short-term and generally deal with rights to use land rather than rights of occupation.

Person (Assessment Act)
A “person” under the Assessment Act means an individual but also “includes a partnership, syndicate, association, corporation, association, and the agent and trustee of a person”.

Personal Property (The Dictionary of Real Estate Appraisal, 4th ed.)
1. Identifiable tangible objects that are considered by the general public as being "personal," for example, furnishings, artwork, antiques, gems and jewelry, collectibles, machinery and equipment; all tangible property that is not classified as real estate. (USPAP, 2002 ed.)

2. Consists of every kind of property that is not real property; movable without damage to itself or the real estate; subdivided into tangible and intangible. (IAAO)

Place of Public Worship (BCA)
It is clearly correct to take into account the principal use of the properties in considering the context of "place". … The fact that an incidental use [of places] includes "public worship" … does not change their principal use.  … a "place of public worship" … must be recognizable as a place having as its principal use "as a place where people come together as a congregation or assembly to do reverence to God" … also include an invitation to members of the public, within the accepted meaning of the "invitation test". (Young Life v. Assessor of Area 08 – North Shore/Squamish).

Public worship requires openness without discrimination to the general public: the invitation test. Factors such as the structure of the building, public notices, the number of persons attending and advertisements may be taken into account.
Persons may come from different places and be entirely unknown to one another but so long as they are properly disposed in the sense that they are reasonably suitable and prepared to behave with reasonable conformity and are then admitted, the worship may be considered public (SCI Canada Limited v. Assessor of Area 09 – Vancouver, 1995, Stated Case 366, BCSC, aff’d by BCCA).

A pastor's residence or manse or parsonage will not be exempt as a place of public worship because it its principal character is as a residence, and not as a place of public worship. (BCA).

Plant (BCA)
A collection of industrial improvements and associated land used for a purpose identified in s. 20 of the Assessment Act. A plant may be comprised of one, many or only part of a folio. The interest during construction (IDC) factor is determined by the total plant RCN. (Refer to Schedule A for a detailed definition of ‘plant.’).

Plant Capacity Units (BCA)
The production capability for which the plant was designed. Design capacity may differ from current or actual production.

Plant Category (BCA)
Industrial plant type as listed in Table 1 of the MIPs Manual Overview.

Plant Primary Division (BCA)
The division of the MIPs manual which the Manual Overview directs the user to start the costing process. The Plant Primary Division is dictated by Industrial Plant Type. Refer to: Table 1 of MIPs Manual Overview.

Pollution (Environmental Management Act)
The presence in the environment of substances or contaminants that substantially alter or impair the usefulness of the environment.

Population (IAAO)
All the items of interest, for example, all the properties in a jurisdiction or neighbourhood; all the observations in a data set from which a sample may be drawn.

Possession (Black’s Law Dictionary 1990)
Possession exists when a person has direct physical control over a thing, at a given time; where the thing is in the immediate occupancy and control of the party.

Primary Agricultural Production (BCA)
For the purposes of farm classification under B.C. Regulation 411/95 of the Assessment Act, primary agricultural production is:

• apiculture;
• aquaculture;
• Christmas tree culture (plantation and cultured native stand);
• dairying;
• floriculture;
• forage production;
• forest seedling and seed production;
• fruit and vegetable production;
• grain and oilseed production;
• herb production;
• horse rearing;
• horticulture;
• populous species and salix species intensively cultivated in plantations;
• insects raised for biological pest control;
• livestock raising;
• medicinal plant culture;
• poultry and egg production;
• seed production;
• turf production;
• wool, hide, feather or fur production; and
• the raising of crops or animals for human or animal consumption.

The following are not considered primary agricultural production:

• the production of manufactured derivatives from agricultural raw materials;
• primary agricultural production for domestic consumption on the  farm;
• the production of agricultural by-products;
• agricultural services; or
• the breeding and raising of pets, except horses.

Primary Plant Site (BCA)
The primary plant site is the site containing of the majority, or highest concentration of plant improvements.

Private Pay (BCA)
Rates are set at market levels the resident is responsible for 100 per cent of the fee without any subsidy for funding from the government.

Private Managed Forest Land (Private Managed Forest Land Act s.1 (1))
Means private land:

(a) in respect of which there is a management commitment, and
(b) that is classified as managed forest land under the Assessment Act.

Private Managed Forest Land Council (Private Managed Forest Land Act s.4-5)
Established under section 4 of the Private Managed Forest Land Act; The Private Managed Forest Land Council is established as a corporation consisting of the members appointed under section 6. The object of the council is to encourage forest management practices on private managed forest land, taking into account the social, environmental and economic benefits of those practices.

Process (BCA)
“Processing” typically includes two criteria – 1) a procedure which results in a change in the nature or appearance of the goods; and 2) treatment which makes the goods more marketable. Furthermore, a process typically involves a series of steps rather than just one activity.

Product (Black’s Law Dictionary, 6th Edition)
‘Product’ is defined as “goods produced or manufactured, either by natural means, by hand, or with tools, machinery, chemicals, or the like. Something produced by physical labour or intellectual effort or something produced naturally or as a result of natural process as by generation or growth”.

Professional Experts (Environmental Management Act)
The Ministry of Environment maintains a roster of professional experts who are…
authorized under section 49.1 of the Contaminated Sites Regulation to make recommendations to the Director concerning the issuing of Approvals in Principle, Certificates of Compliance, Determinations that a site is / or is not a Contaminated Site, Contaminated Soil Relocation Agreements, and background releases (based on Table 1 of Protocol 4) for low to moderate risk sites.

Property (BCA)
Includes land and improvements. It also includes any interest in land, including any right of ownership, occupancy, or use. Note that both ‘lot’ and ‘parcel’ usually refer to land excluding improvements.

Property Assessment Appeal Board (PAAB) (BCA)
PAAB is the second stage to appealing property assessments in B.C. Property owners may appeal decisions made by PARP to the PAAB before the expiry of the filing deadline of April 30th.

Property Assessment Review Panel (PARP) (BCA)
Appointed by the Minister to review property assessments under the Assessment Act.

Property Class (BCA)
For property taxation purposes in British Columbia, the assessor assigns one or more property class to each property according to the description of these classes in a provincial regulation. There are nine classes: residential, utilities, unmanaged forest land, major industry, light industry, business and other, managed forest land, recreational/non-profit and farm.

It is possible for a single property to have part of its value in one class and part in another class. For example, a retail store with an apartment above it would have the value of the apartment in residential class and the value of the store in the business and other class. These different classes exist so that taxing jurisdictions (such as a city) can assign varying tax rates to different property types. For example, the tax rate for light industrial property might be significantly higher than that for a residential property.

Property Manager (BCA)
A person (including a company) who, under contract with the property owner, provides operation and management of real property for a property owner.

Property Transfer Tax (PTT) (Ministry of Provincial Revenue)
Property transfer tax is a land registration tax payable when an application is made at any Land Title Office in British Columbia to register changes to a certificate of title.

Property Value Summary (PVS) - Commercial (BCA)
Summary of detailed valuation information (e.g. vacancy rates) about a business property such as a retail establishment.
No fee if:
• in accordance with Property Assessment Appeal Board practice directives and requested as a ‘comparable’ in preparation for an appeal to the Property Assessment Appeal Board.
• ordered by the Property Assessment Appeal Board.

If neither of the above applies, and you are not the owner or the owner’s agent, or a lawyer representing the owner, $100 per property for routine request, $200 for a priority request.

Property Value Summary (PVS) - Residential (BCA)
Summary of physical inventory information about a property.
No fee if:
• requested as a ‘comparable’ as prescribed by BC Regulation during the annual enquiry period, or in preparation for an appeal to the Property Assessment Review Panel or the Property Assessment Appeal Board. For more detailed explanation, click here.
• ordered by the Property Assessment Appeal Board.

If neither of the above applies, and you are not the owner or the owner’s agent, or a lawyer representing the owner, the fee is $16 per PVS.

Proposed Value (BCA)
The value which the appellants are seeking or where the proposed value has not been identified, the value estimate based on the risk associated with the appeal.

Publicly Funded (BCA)
Funds or monies are received from the Ministry of Health for each resident occupying a funded bed in the facility. The government funding is supplemented by the resident’s per diem fee.

Public Information (BCA)
Assessment information which is publicly available on the ‘face of the roll’ (e.g. available to the public through microfiche) and items of physical inventory for a residential property as prescribed by BC Reg 434/98, the Physical Inventory Disclosure Regulation. Also, information made available for sale to the public (e.g., derived information).

• Derived information E.g., information derived from actual information gathered by BCA or provided to BCA. BCA analyses actual information to develop a series of market inputs for valuation of a range of properties (“derived information”). Actual financial performance and related information of a property provided to BCA will continue to be treated as confidential by BCA.
• Readily available physical information of a property, such as the physical inventory, (i.e.) property size, general improvement description, gross building area and building rentable area (gross or net).

Information provided by property owners (e.g. actual rents, vacancies, rent rolls, etc.) will also continue to be treated as confidential and must not be disclosed to any one other than the property owner, a duly authorized agent of the property owner, or through an order in the course of an appeal.

Public Worship (Young Life v. Assessor of Area 08 – North Shore/Squamish (2005, Stated Case 487, BCSC – decision dated July 19, 2005)
… for "worship" to be "public" it must involve the coming together of people in a corporate event to which members of the public are given notice that they are invited to attend and to which members of the public feel invited. … individual private worship is not public worship. … That members of the public are welcome to participate in worship in the minds of the gathered community, does not make it "public worship". …The fact that corporate worship events take place … and that a passing member of the public may occasionally attend some of those events, does not transform the worship event into public worship.

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Quality – Economic Rate (BCA)
Qualities 1-5 represent the quality of the income stream, not necessarily construction quality. “Quality” reflects the condition, age, location, physical features and any other factor that impacts economic rent for the competitive market set.

Quality – Manual Class (BCA)
Quality refers to the grade of materials and workmanship employed in constructing the improvements. A Quality adjustment is a positive or negative deviation from the standard described in the manual class. A Quality adjustment is made for features that are present in all homes (e.g. counter tops, flooring, windows), not exceptional features found in only some homes. Examples of higher and lesser quality in residential improvements are:

• stone counters / laminate counters
• solid hardwood floors / laminate hardwood
• tile/stone floor / sheet vinyl floor
• jetted bathtub / standard tub
• drywall / paneling
• vinyl, double glazed windows / aluminum or wood single glazing.

Questionable Sale (BCA)

• sales not representative of typical market transactions;
• sales that may involve uninformed purchasers; or,
• sales that may include involve highly motivated vendors or purchasers.

QSR (BCA)
Quick Service or Fast Food Restaurant.

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Range (IAAO)
The maximum value of a sample minus the minimum value or the difference between the maximum and minimum values that a variable may assume.

Rate Amount (BCA)
The price ($) derived from market analysis that represents the value per unit of comparison (Rate Type) for the typical lot within the rate code boundary. For example, the rate for a typical residential lot in a Neighbourhood or the typical rate for apartment land within a jurisdiction.

Rate Code (BCA)
A rate code is a numeric identifier for a Rate Amount which is applied to a group of land folios with similar use, location and economic conditions in a specified market area (Rate Code Boundary).

A rate code will be developed for a minimum of 125 folios. The preferred population for residential rate codes is 300+ folios to ensure market representativeness (e.g. 5% annual sales in population linked to rate code) unless:

• the rate codes are statutory; or
• the market area is less than 125 folios (e.g., the population associated with the rate code represents an entire market not a submarket or a property characteristic within a market, e.g. an island or isolated lake).  

Note: For mass appraisal purposes, the IAAO recommends a model (i.e. In the case a rate code) be based on 50+ sales or approximately 1,000 properties assuming a 5% annual turnover in properties.

Rate Code Boundary (BCA)
Rate code boundaries reflect the geographic extent of application of specific Rate Amounts. These boundaries should reflect market areas or competitive sets for commercial and industrial properties.

Rate Code Numbering (BCA)
The following numbering system must be used to label all rate codes:

0000-0999                     Non-typical lots, etc.
1000-1999                     All residential lots (excluding stratas & apartments)
2000-2999                     All apartment lots
3000-3999                     All strata lots
4000-4999                     All commercial lots
5000-5999                     All industrial lots
6000-6999                     All non-farm acreage
7000-7999                     Properties requiring special handling
8000-8999                     Farm – non-soil oriented uses
9000-9999                     Farm – soil-oriented uses.

Rate Table Description (BCA)
The Rate Table Description Code identifies the size of the market area to which the rate code is applied. Refer to: Rate Table Descriptions below.

Rate Type (BCA)
A rate type is a code that indicates the units of comparison to be used, and, thus, the way valueBC calculates land value. Determining how the marketplace establishes the selling price of vacant land is crucial to choosing the appropriate rate type. Except for Timberland, rate type dimensions are recorded in Imperial measurements.

Ratio Study (IAAO)
A study of the relationship between assessed values and market values. Of common interest in ratio studies are the level and uniformity of the assessments.  A Sales Ratio Study or Sales Study uses sales prices as proxies for market values.

Readily Available Physical Property Information (BCA)
Property inventory attributes such as the physical inventory, (i.e.) property size, general improvement description, gross building area and building rentable area (gross or net).

Reassessment (BCA)
Although this term is commonly used in BC Assessment, it is really a misnomer. The values of all properties are determined annually for the upcoming assessment roll. This is most often done without a specific property being visited each year by a BC Assessment staff member. Often when we use the term ‘reassessment’ we mean ‘reinventory’.

Record (Freedom of Information and Protection of Privacy Act)
A record includes “books, documents, maps, drawings, photographs, letters, vouchers, papers and any other thing on which information is recorded or stored by graphic, electronic, mechanical or other means, but does not include a computer program or any other mechanism that produces records”.

Recovery Income (BCA)
Commonly referred to as Common Area Maintenance (CAM), Recovery Incomes is the amount of money charged to tenants for their share of property taxes and maintenance related to the common area of the centre. These charges may be apportioned on the basis of tenant rentable area (see GLA). Operating costs and taxes recovered from tenants are reported in the income statement as revenue. Recovery Income is identified as a Non-Variable adjustment attribute available for Multi-Retail model types.

Recreational Facilities (BCA)
Open or enclosed recreational facilities including tennis, racquet ball, squash courts, spas, etc.

Recreational Vehicle – RV (Camping Canada.Com – Glossary)
A motorized or towable vehicle that combines transportation and temporary living accommodations for travel, recreation and camping. RVs come in all shape and sizes for any budget or need. They range from camping trailers costing a few thousand dollars to luxurious motor homes with prices well into six figures.

Redemption (Ministry of Finance-Property Taxation Branch)
The Redemption Period is a one-year period provided immediately following forfeiture, during which the former owner or registered charge holder can pay all the outstanding property taxes and the title of the property will be restored to the former owner (redemption).

Reference Folio (BCA)
A roll number used to explain where certain other properties are located in the jurisdiction. Reference folios have no actual value associated with them.

Reinventory (BCA)
When properties in a particular neighbourhood or specific property types are actually visited by an appraiser to determine the accuracy of the physical inventory or other attributes of the property. It is synonymous with re-inspection.

Reject Sale (BCA)
A sale that will not be included in a sales study. Also see Dummy Sale, Distress Sale, Partial Interest Sale, Special Interest Sale, Related Party Sale, Trade and Foreclosure Sale.

Related Appeals (Property Assessment Appeal Board)

• Unresolved appeals of the same property in previous years
• Appeals that are dependent upon the results of other appeals.

Related Party Sale (BCA)

• Sale where the vendor and purchaser are associated, for example related companies or related individuals.
• Sales that include internal company transactions.
• Refer to Reject Sale.

Religious Organization (Canada Revenue Agency)
Organizations that “… promote the spiritual teachings of a religious body and … maintain doctrines and spiritual observances on which those teachings are based. There must be an element of theistic worship, which means the worship of a deity or deities in the spiritual sense.

Remediation (Environmental Management Act - paraphrased)
Action to eliminate, limit, correct, counteract, mitigate or remove any contaminant or the adverse effects on the environment or human health of any contaminant, and includes, but is not limited to, the following:

• preliminary or detailed site investigations, analysis and interpretation, including tests, sampling, surveys, data evaluation, risk assessment and environmental impact assessment;
• evaluation of alternative methods of remediation;
• preparation of a remediation plan, including a plan for any consequential or associated removal of soil or soil relocation from the site;
• implementation of a remediation plan;
• monitoring, verification and confirmation of the remediation plan, applicable standards and requirements imposed by a director.

Remediation may be ordered under the Act or undertaken on a voluntary basis. Remediation may include “on-site” treatment of the waste or contaminated soil.

Remediation Plan (Environmental Management Act - paraphrased)
A plan which includes information on the:

• location(s) of contamination, remediation alternatives, and evaluation methods used to assess the factors under section 56 of the Act,
• remediation methods selected to ensure compliance with the numerical standards or risk based standards
• identification and classification of the substances in any soil, surface water, groundwater or sediment to remain in place or to be relocated,
• risk assessment calculations and methodology to demonstrate compliance with risk-based remediation standards if remediation is assessed relative to the risk-based remediation standards,
• a schedule with estimated dates for implementing remediation,
• identification and discussion of the effects of known regulatory requirements on remediation, including any authorizations which will be required to implement remediation,
• proposed confirmatory sampling, analysis, testing or monitoring during and after treatment, management or removal of contamination.

Remodel (BCA)
To reconstruct, rebuild, update or alter the structure, style or functional utility of a building. To model or fashion anew; to change the form of, or to do over.

Renovation (BCA)
General term to cover changes and upgrading of an existing property that will provide new life, energy or vigour. To refresh, revive, restore or reinvigorate to a previous or better condition. The act of improving and repairing as if to make new again.

Rental Accommodation Manager(s) (BCA)
Person(s) or corporations which perform specific rental management functions on behalf of strata accommodation property owners, including functions such as guest registration, housekeeping, repair and maintenance, the collection and payment of fees and taxes. Property managers licensed under the Real Estate Services Act and providing more traditional strata property management services (as opposed to rental services) are not necessarily accommodation managers. Therefore, a strata complex should not be excluded from Class 1 as a "grandfathered" property just because a traditional property manager serves 100% of the strata lots in the complex, provided no single accommodation manager controls or manages 85% or more of the strata lots in the strata plan or continuous strata plans.

Rent Concessions (BCA)
All rent concessions result from market conditions and the relative negotiating strength of the property owner and the tenant. It is not unusual for free rent concessions to be given outside of the lease term so that concessions do not appear on the written lease document.

Rent Roll/Schedule of Tenants/ Tenant Summary//Schedule of Leases/Tenant Roster (BCA)
A summary of listing of property lease details for a building. It will generally include: tenant’s names, unit numbers, lease start and end dates, square footage, amount of rent, vacant space, etc. The list may be reported in a variety of ways from basic to very detailed information.

Rentable Area (REALPAC Terminology Standards - Rent)
The tenant’s Usable Area (refer to definition below) plus an adjustment (or "gross-up") for a proportionate share of common areas, elevator lobbies and washrooms on the floor. The Building Owners and Managers Association ("BOMA") sets specific standards for measurement of office, industrial and retail space in BOMA's 1990 or 1996 standard ANS Z65.1, but these are not always observed by all landlords.

Rental Housing (BCA)
Residential units rented on a monthly basis to seniors. There are no support services available through the building but residents can apply for support services to an outside agency, i.e., Meals on Wheels.

Rent, or Offer for Rent (Black’s Law Dictionary 6th Edition; Oxford Concise Reference Dictionary, 1995)
“Compensation paid for use or occupation of property." "In a broader sense, it is the compensation or fee paid, usually periodically, for the use of any rental property, land, buildings, equipment, etc. ” (Black’s Law Dictionary). “A tenant’s periodical payment to an owner or landlord for the use of land or premises”. (Concise Oxford).

Replacement Allowance (The Dictionary of Real Estate Appraisal, 4th ed.)
An allowance that provides for the periodic replacement of building components that wear out more rapidly than the building itself and must be replaced during the building's economic life; also known as Replacement Reserves.

Resident per Diem Fee (BCA)
The daily rate residents of publicly funded facilities pay towards their care. A means test is administered to determine the per diem fee.

Residential land use (Contaminated Site Regulation)
The use of land for the primary purpose of:

• a residence by persons on a permanent, temporary or seasonal basis, including, without limitation, single family dwellings, cabins, apartments, condominiums or townhouses, or
• institutional facilities, including, without limitation, schools, hospitals, daycare operations, prisons, correctional centres and community centres.

Residual Intangible Assets (RIA) (The Dictionary of Real Estate Appraisal, 4th ed.)
Those intangible assets of a business (going concern) that have not been separately identified and valued in an appraisal. The value of residual intangible assets equals the value of total intangible assets minus the value of identified intangible assets. Note that in most instances capitalized economic profit will be an element of residual intangible assets.

Responsible Person (Environmental Management Act)
Section 45 of the Environmental Management Act identifies those persons responsible for remediation of contaminated sites. These persons may include:

• a current owner or operator of the site
• a previous owner or operator of the site
• a producer of a substance that contaminates the site
• a person who disposed of a substance that contaminates the site
• a transporter of a substance that contaminates the site
• a secured creditor (only in very limited circumstances – see Act).

The definition includes those parties who contaminated another site through migration of the contamination from the parent site.

Restrictive Covenant (Black’s Law Dictionary)
Provision in a deed limiting the use of the property and prohibiting certain uses. In context of property law, term describes contract between grantor an grantee which restricts grantee’s use and occupancy of land; generally, purpose behind restrictive covenants is to maintain or enhance value of lands adjacent to one another by controlling nature and use of surrounding lands.

Return on Capital (The Dictionary of Real Estate Appraisal, 4th ed.)  
The additional amount received as compensation (profit or reward) for use of an investor's capital until it is recaptured. The rate of return on capital is analogous to the yield rate or the interest rate earned or expected.

Reversion (The Appraisal of Real Estate 2nd Canadian Edition)
A lump-sum benefit an investor receives or expects to receive upon the termination of an investment; also called reversionary benefit.

Revestment (Ministry of Finance- Property Taxation Branch)
The Revestment Period is a further two-year period following the end of the redemption period in which the former owner or any registered charge holder (e.g. mortgage holder) receiving forfeiture notification can apply to have the title of the property returned to the former owner by paying the taxes and fees. Revestment requests must be accompanied by a notarized statement. The decision to revest a property is at the discretion of the Surveyor of Taxes.

Revised Roll (BCA)
Includes amendments made by the assessor and the property assessment review panels during February and March of each year. Formerly 'authenticated roll'.

Risk Based Standards (Environmental Management Act)
A approach using risk assessment to identify and evaluate substances, persons potentially affected, and exposures to the substances in order to estimate cancer risks or hazard indices in accordance with a director's protocol. Section 16 of the Contaminated Sites Regulation (B.C. Reg. 76/2005, March 7, 2005) provides for the use of risk-based or numerical standards for site remediation subject to certain conditions in sections 17 and 18 of the Regulation.

Rooms (BCA)
Any room dedicated to overnight stays (e.g., that has a bed), whether for personal or commercial use and whether or not it is offered in combination with an ensuite bathroom.

Runs with the Land (Black’s Law Dictionary)
Passing with transfer of the land. A covenant is said to run with the land when either the liability to perform it or the right to take advantage of it passes to the assignee of that land. Usually concerned with easements and covenants.

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Sale (BCA)
A real property transaction which involves the transfer of an interest in real property from one party to another party. 

Sales Chasing (IAAO)
An inappropriate form of selective reassessment. Sales chasing is the practice of using the sale of a property to trigger a reappraisal of that property at or near the selling price. Sales chasing causes invalid uniformity results in a sales ratio study and causes invalid appraisal level results unless similar unsold parcels are reappraised by a method that produces an appraisal level for unsold properties equal to the appraisal level of sold properties.

Sale - Cash (Black's Law Dictionary)
A sale for money in hand. A sale conditional on payment concurrent with delivery.

Sale - Company Sale (BCA)
Property was transferred as a corporate asset in purchase of a corporation. The reported Sale Price may reflect book value rather than market value.

Sale - Distress Sale (Black’s Law Dictionary Abridged 7th Ed – BCA Modified)

• A form of liquidation in which the seller receives less for the goods than what would be received under normal sale conditions; esp. a going-out-of-business sale
• A foreclosure or tax sale.

• Sale where an owner is forced to sell for financing or other reasons. When a distress sale is typical of the local market (e.g. major employer shut-down in small community), it should be included in a market study.
• Sale resulting from divorce proceedings. Note: If an appraisal was completed to establish the transfer price, the sale may provide an indication of market value in a very thin market.

Sale - Dummy (BCA)
A sales record that is created when the FIN579 cannot be attached to a sale.

Sale - Government/Expropriation Sale (BCA)
The property was purchased from a private individual or corporation by government for government or public purposes (e.g. public works, roads, hazard issues). The vendor’s motivation would be atypical.

Sale - First Sale (BCA)
Residential strata properties which are “pre-sold” may reflect “below market” pricing, Developers may use this strategy for the first few sales to encourage interest in their project.

Sale - Foreclosure Sale (Black’s Law Dictionary Abridged 7th Ed – BCA Modified)
The sale of a mortgaged property resulting from mortgage foreclosure, authorized by a court decree or a power-of-sale clause, to satisfy the debt.

Sale - Land Assembly (BCA)
The property was bought/sold with the goal of “assembly” with nearby property to create a new parcel of sufficient size to achieve maximum density. The sale price may reflect an additional premium assigned by the market for “bonus density” achieved upon assembly.

Sale - Lease (BCA)
For the purposes of sales coding, the term lease means a lease or license of otherwise exempt land. For example, Provincial lease of Crown land or lease of Indian Band land.

Sale of Lease Interest (BCA)
A type of sale in which a lease interest is conveyed.

Sale - Multi-Property Sale (BCA)
A transfer of property or title involving more than one parcel.

Sale - Non Sale (BCA)
A non-sale is a property transaction for an amount less than or equal to $1.00.

Sale - Partial Interest (The Appraisal of Real Estate 2nd Canadian Ed – BCA Modified)

• The purchase of a divided or undivided right in real estate that represent less than the whole.
• Sale of a part interest in a property (e.g. one tenant in common sells interest to other tenant(s) or new party). Note: If sale of partial interests is common in a specific market (e.g. resort properties where each strata lot has multiple owners) it will be necessary to track partial interest sales.
• A sale of less than 100% interest in a property (e.g. single owner sells to one or more parties to create tenancy in common).

Sale – Qualified (BCA)
Data from LTO indicates the sale meets criteria to be used for analysis.

Sale – Questionable (BCA)

• sales not representative of typical market transactions;
• sales that may involve uninformed purchasers; or,
• sales that may involve highly motivated vendors or purchasers.

Sale - Related Party Sale (BCA)

• Sale where the vendor and purchaser are associated, for example related companies or related individuals
• Sales that include internal company transactions.

Sale – Reject (BCA)
Refer to Reject Sale.

Sale – Share Transfer (BCA)
A transaction in which all or part of the company shares are sold. Where the company assets include real property; no title transfer will occur because the name of the company has not changed as it has been sold along with the rest of the corporate assets.

Sale - Special Interest (BCA)

• Assignment of an Agreement for Sale

• Sale from an execution of an estate. (Intended to deal with the probate of an estate where the property title is transferred to a related party. An arm’s length transaction occurs when the executor then sells the property on the open market)

• Sale to a trust company where the company becomes the trustee.
• Bulk sales of strata units where the sale price is not reflective of the market value of each individual unit.
• The purchaser was atypically motivated to buy a specific property. The price paid may not be reflective of market value.

Sale - Trade (IAAO – BCA Modified)

• A trade is a property transfer that includes items of real or personal property as a portion of the price. The transaction should not be used if the items traded constitute the entire price. Otherwise, if the value of the traded items is stipulated, can be ascertained, or is small in comparison with the total price, the sale can be used by including the value of the items traded in the total purchase price. As a general rule however, sales involving trades should be excluded from sales studies if the full price cannot be reliably established and there is an otherwise adequate number of valid sales.

• Sale of a property whereby part or whole payment is not in cash or financing, but in goods such as a boat, automobile, chattels or other real property
• Part or all of the consideration paid for a property was in the form of goods or another parcel of real property. The value of the consideration may not reflect market value.  

Sale - Uninformed Purchaser (BCA)
The purchaser was not knowledgeable of market conditions. The purchase price may not reflect market value.

Sale - Unmatched (BCA)
No FIN579 can be matched to sale.

Sale - Unqualified (BCA)
Data from LTO indicates the sale does not meet criteria to be used for analysis. Review is required to determine if the sale is, in fact, Qualified or otherwise.

Sale - Unusual Financing (BCA)
The purchaser used unconventional financing to purchase the property. The price paid may or may not reflect market value.

Seniors Housing – Bed (BCA)
A bed is a unit of capacity in licensed care facilities. Every facility is licensed for a certain number of beds which dictates how many people may reside in a given facility. In any licensed care home, there may be greater or fewer actual beds than licensed beds. Excess beds cannot be used if they are not licensed.

Seniors Housing - Bed Sitting Room (BSR) (BCA)
A resident unit that does not contain a kitchenette; it may or may not contain an en-suite bathroom. Essentially, this type of room is just a bedroom.

Seniors Housing - Bachelor Suite (Bach) (BCA)
A resident unit that does not have a self-contained bedroom, but does include a kitchenette and a 3 or 4-piece washroom.

Seniors Housing 1-Bedroom Suite (1BR) (BCA)
A resident unit with a self-contained bedroom with a built-in closet, a kitchenette area and a 3 or 4-piece washroom and/or an en-suite.

Seniors Housing 1-Bedroom + Den Suite (1BR+d) (BCA)
A resident unit with a self-contained bedroom, a 2nd room which does not contain a built-in closet, a kitchenette area and a 3 or 4-piece washroom and/or an en-suite.

Seniors Housing 2-Bedroom Suite (2BR) (BCA)
A resident unit with 2 self-contained bedrooms, a kitchenette area and 3 or 4-piece washroom and/or an en-suite.

Seniors Housing 2-Bedroom + Den Suite (2BR+d) (BCA)
A resident unit with two self-contained bedrooms, a kitchenette area, a 3 or 4-piece washroom and/or an en-suite and an additional room without a built-in closet.

Seniors Housing - Guest Suite/Manager Suite (BCA)
A living unit in a seniors’ housing facility that may be occupied by the manager of the facility or residents’ guests (sometimes for a fee).

Seniors Housing - Licensed (BCA)
A licensed care facility is one permitted by the provincial government to provide housing and health care services. A license is required for operation.

Seniors Housing - Semi-Private/Share Room (BCA)
A ward-type room containing 2 to 4 beds and possibly a 2-piece en-suite washroom.

Seniors Housing - Vacancy (BCA)
Seniors’ housing vacancy is expressed as a per cent of potential gross income.

Service Package (BCA)
Additional supportive amenities and services that can be purchased above the basic amenities provided in the rent.

Servicing (BCA)
Refers to the job function of inventorying and valuing new additions to the upcoming assessment roll. These could be in the form of new construction or development (newly built houses would be an example as would a new land subdivision).

Set Apart (BCA)
Made available for, or to be made available for. A building that is under construction or in the process of being renovated can be exempt as a place of public worship if its principal character is/will be a place of public worship.

Share Transfer (BCA)
A transaction in which all or part of the company shares are sold. Where the company assets include real property; no title transfer will occur because the name of the company has not changed as it has been sold along with the rest of the corporate assets.

Shell Rent (BCA)
A rental rate for unfinished space. Typically the space is leased unimproved and the tenant would be responsible for improvements necessary for occupancy.

Shopping Centre Anchor (Shopping Centre Development Handbook – Urban Land Institute 1999)
The major store within a shopping center that attracts or generates traffic for the facility, e.g. a Supermarket or Discount Store in a Neighbourhood Shopping Center, a Major chain, Large Specialty or Department store in a Community or Regional Shopping Center.

Shopping Centre Mini Anchor (Shopping Centre Development Handbook – Urban Land Institute 1999)
Smaller Anchor Stores or facilities that attract or generate traffic for the facility, such as a Drug Store, Food, Apparel or Home Furnishing Specialty Stores, or Major Chain or Cineplex. Some centres, often Power Centres, may have no dominant Anchor tenant but a collection of smaller Mini-Anchors.

Shopping Center (Dictionary of Real Estate Appraisal 4th edition)
A tract of land, under individual or joint real estate ownership or control, improved with a coordinated group of retail buildings with a variety of stores and free parking. The main categories of Shopping Center are Regional, Community, Power and Neighbourhood.

The source for the following definitions is Shopping Centre Development Handbook 1999 – Urban Land Institute and the ICSC Glossary of Shopping Centre Definitions - 2004.

Regional Centre
This centre type provides general merchandise (a large percentage is apparel) and services in full depth and variety. Its main attractions are one or more Anchors of at least 75,000 sq ft (traditional, mass merchant or discount department stores) and fashion or life-style specialty stores. A typical regional centre is usually enclosed, with an inward orientation of stores connected by a common walkway, and parking surrounding the outer perimeter. They offer in excess of 400,000 sq ft of rentable area and usually accommodate two or more major department (anchor) stores. The site is typically in excess of 40 acres.

Examples of regional shopping centres in BC are:

• Pacific Centre, Vancouver
• Oakridge Centre, Vancouver
• Park Royal, West Vancouver
• Richmond Centre, Richmond
• Metrotown Centre, Burnaby
• Coquitlam Centre, Coquitlam
• Guildford Centre, Surrey
• Willowbrook Mall, Langley
• Woodgrove Centre, Nanaimo
• Mayfair Centre, Victoria
• The Bay Center, Victoria
• Orchard Park, Kelowna

Community Centre
This centre offers a wider range of apparel and other soft goods than the neighbourhood center. Among the more common anchors are supermarkets, super-drugstores, and discount department stores.

Community centre tenants sometimes include box office price retailers or home improvement / furnishings outlets. The centre is usually configured as a strip, in a straight line, or “L” shape. Older built centres (1970’s early 80’s) are often enclosed mall concept centres. Community centres encompass the widest range of formats. For example, certain centres offer a wide selection of apparel and anchored by a junior department store and supermarket. The average size is 150,000 sq ft of gross leasable area. A centre may consist of a junior department store/large variety store and one or more supermarkets. The size ranges from 100,000 to 400,000 sq ft of GLA and a land area from 10 to 30 acres.

Examples of Community Centres in BC are:

• Cherry Lane, Penticton
• Lynn Valley Centre, North Vancouver

Neighbourhood Shopping Centre
A centre offering convenience goods (foods, drugs and sundries) and personal service (laundry, barbering) to satisfy the day-to-day living needs of the immediate neighbourhood. A food store is typically the anchor tenant of a neighbourhood centre. The centre will be generally be single level, containing between five to twenty-five tenants, A majority of neighbourhood centres range from 30,000 to 100,000 square feet with an average size of 150,000 sq ft.  The site area is typically between 3 and 10 acres.

Most older Neighbourhood Centres have an open “strip” design although some newer specialty centres may be partially or fully enclosed.

Power Centre (BCA)

A centre dominated by severalmini anchors of at least 20,000 sq ft each and/or an anchor of + 100,000 sq ft. Power Centres include discount department stores, off-price stores, warehouse clubs or category killers. The centre typically consists of several freestanding anchors and only a minimum amount of small specialty tenants.

Examples of Power Centres in BC are:

• Landley Power Centre, Langley
• Strawberry Hill, Surrey
• Abbotsford Power Center, Abbotsford.

For the purposes of this policy, Power Centres will be defined by:

• Occupancy (Neighbourhood, Community or Regional – depending on size)
• Name in the Model Description Field

Power Centres will typically be associated with Neighbourhood or Community Shopping Center Occupancies.

Shopping Centre Commercial Retail Unit (CRU) (Shopping Centre Development Handbook – Urban Land Institute 1999)
A smaller tenant within a Shopping Centre typically occupying less than 30,000 sq ft of space. CRUs may be national, local chains or independent and are generally further defined according to the following tenant classifications: General Merchandise, Food, Food Service, Clothing & Accessories, Shoes, Home Furnishings, Home Appliances/Music, Building Materials/Garden, Automotive, Hobby/Special Interest, Gifts/Specialty, Jewelry, Liquor, Drugs, Misc Retail, Personal Services, Entertainment/Community, Financial, Offices.

Shopping Centre Kiosk (Shopping Centre Development Handbook – Urban Development Institute 1999)
A small free-standing booth (typically around 100 sq ft) within an enclosed mall designed to encourage impulse buying. Kiosks in heavy traffic areas help create the atmosphere of a marketplace. Most permanent Kiosks tenancies are under short-term leases or licence agreements, usually for 1 year.

Other related small scale specialty retail units are “Carts” and “Retail Merchandising Units”, both smaller than a typical Kiosk unit.

Shopping Center - Pad (Shopping Center Management and Leasing IREM 2005)
A Pad, also known as an “outlot”, is a parcel of land in a high visibility, high traffic area of the Shopping Center parking lot. Pads can generate high rents, add to the draw of the Shopping Center, and provide a unique product or service to the tenant mix. There are 3 common types of pad deals: ground leases, built to suit, and sale of the parcel.

Common pads uses are restaurants and banks, both of which require long-term leases in a ground lease situation. In other situations, tenants will build to suit since they can obtain more favourable financing than the landlord (reducing their occupancy costs).

Short-Term - Bed & Breakfast Accommodation Properties (BCA)
"Short-term" refers to accommodation provided for "periods of less than 7 days" as set out in s.1(a)(iv)(A)(I) of the Prescribed Classes of Property Regulation. Rooms offered only for longer-term rental (e.g., monthly stays) are not considered to have a commercial-use component and will be placed in Class 1.

Short-Term - Strata Accommodation Properties (BCA)
"Short-term" refers to the requirement in the legislation that a strata not be rented or offered for rent for a prescribed period of time such as "less than 28 days" in s. 19(1) and "less than 7 days" in s. 19.1 of the Assessment Act. Strata lots only available for longer-term rental (e.g., monthly stays) are not considered to have short-term, commercial use component and will be placed entirely in Class 1.

Simple Property (BCA)
A single family residential property, vacant land, or a commercial/industrial property which does not require significant BCA valuation resources to assess. Examples of simple properties include the following property types:

• Single family or strata residential properties
• Vacant land
• Campgrounds (other than campgrounds associated with complex properties such as hotels and resorts)
• Small accommodation only motels & hotels, B&Bs or lodges.
• 9-hole Golf courses
• Manufactured Home Parks
• Small Marinas (less than 100 slips)
• Office or Industrial properties with less than 25,000 sq ft in gross leasable area
• Parking lots and parking structures not included in complex properties (e.g. stand-alone)
• Rental Apartments
• Retail properties with less than 25,0000 sq ft in net leasable area
• Strata commercial (e.g. IC&I) property.

Given the high diversity of properties assessed in B.C., Area Assessor discretion will be necessary to determine if a property is complex or simple. To ensure consistency of approach, the Area Assessor should contact the BCA Information Officer for advice on 3rd party information requests for properties which do not clearly meet the above criteria.

Single Family Dwelling (BCA)
A detached residential dwelling unit which has been designed and built to accommodate single family use.

Single Room Occupancy (BCA)
Any building that contains rooms intended or designed to be used, rented or occupied for sleeping or living purposes by tenants and is the primary residence of those tenants.

Site Improvements (Appraisal of Real Estate 2nd Canadian Edition, 2002)
Improvements to land so that it can be used for a specific purpose.

Serviced residential, commercial, and industrial lots will have associated “on street” site improvements such as paved roads, overhead lighting, curb, gutter, sewer and water connections. Site improvements for serviced lots will be reflected in the Rate Amount.

Site Investigation (Environmental Management Act)
A detailed or preliminary site investigation under section 41 of the Act.

Site Profile (Environmental Management Act - paraphrased)
A report, using a prescribed form, which is intended to provide a preliminary assessment contamination risk for a specific property. A Site Profile will be automatically required when:

• a property which has been used for commercial or industrial use is subject to an application for subdivision, rezoning, or development permit
• an owner dismantles a building or structure, or otherwise decommissions a site which was used for an industrial or commercial purpose or activity listed in Schedule 2 of the Regulation
• an owner applies for a certificate of restoration respecting a well, test hole or production facility under the Petroleum and Natural Gas Act.
• a vendor of real property who is aware the property has been used for commercial or industrial use or other prescribed use.

Site Registry (Environmental Management Act)
The electronic registry maintained by the Ministry of Environment as repository for all documents relating to site profiles, orders, approvals, and remediation agreements. Note: BCA has authorized access to this registry.

Situs (BCA)
The physical location or position of a property.

Solely (Merriam Webster's Dictionary)
Without another, to the exclusion of all else.

Source Division (BCA)
The cost source from which the improvement is valued. Source Division is used to determine the update factor.

STOCAP (BC Assessment)
Acronym for "short-term overnight

commercial accommodation property.” This term was created by the Province in recognition of the diversity of temporary commercial accommodation currently available, including conventional hotels/motels, bed and breakfast operations, resorts, campgrounds and other forms of pooled and managed commercial accommodation.

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Special Interest Sale (BCA)

• Assignment of an Agreement for Sale.
• Sale from an execution of an estate. (Intended to deal with the probate of an estate where the property title is transferred to a related party. An arm’s length transaction occurs when the executor then sells the property on the open market.)
• Sale to a trust company where the company becomes the trustee.
• Bulk sales of strata units where the sale price is not reflective of the market value of each individual unit.
• The purchaser was atypically motivated to buy a specific property. The price paid may not be reflective of market value.
• Refer to Reject Sale.

Squatter (Black’s Law Dictionary, 1990)
A squatter is a person who settles on another's land, without legal title or authority; a person entering upon lands, not claiming in good faith the right to do so by virtue of any title of his own or by virtue of some agreement with another whom he believes to hold the title.

Statement of Issues, Evidence and Analysis with Recommendation – SIEA (Property Assessment Appeal Board)
The document ordered by the Board requiring the parties to provide a written statement clearly:

• identifying the issues in the appeal;
• providing a summary of the evidence and analysis relied on in support of each issue, and
• providing a without prejudice recommendation for the amendment or confirmation of the roll.

The Board will require the appellant to produce their statement first by a certain date and the assessor to respond also by a certain date, with consequences for both parties for non-compliance. Where there are significant numbers of appeals, the Board will expect to spread out these production dates while bringing some closure to this process by mid summer to early fall.

Statutory Right of Way (Land Title Act)
An easement without a designated dominant tenement registerable under section 218 (excerpt below).
218 (1) A person may and is deemed always to have been able to create, by grant or otherwise in favour of
(a) the Crown or a Crown corporation or agency,
(b) a municipality, a regional district, the Greater Vancouver Transportation Authority, a local trust committee under the Islands Trust Act or a local improvement district,
(c) a water users' community, a public utility, a pulp or timber, mining, railway or smelting corporation, or a corporation authorized to transport oil or gas, or both oil and gas, or solids, as defined in the Pipeline Act, or
(d) any other person designated by the minister on terms and conditions that minister thinks proper,
an easement, without a dominant tenement, to be known as a "statutory right of way" for any purpose necessary for the operation and maintenance of the grantee's undertaking, including a right to flood.

Stigma (Appraisal Institute, USA)
Stigma-related impacts on property value are defined as ‘personal value-driven’ or personal perceptions about possible impacts on land-use on a property with which known or suspected to be affected by a heritage site.

STOCAP (BCA)
Acronym for “short-term overnight commercial accommodation property”. This term was created by the Province in recognition of the diversity of temporary commercial accommodation currently available, including conventional hotels/motels, bed and breakfast operations, resorts, and other forms of pooled and managed commercial accommodation.

Storage - Ancillary to or in Conjunction with (BCA)
An area for safekeeping of goods that has a nexus (significant bond or connection) with the primary extracting, processing, manufacturing or transporting activity.

Strata Additional Feature (BCA)
Anything in excess of the Base Complex or Strata Unit Base Cost must be costed as a unique feature (component) for the complex or individual strata unit. Refer to: Commercial Building Viewer.

Examples of strata unit additional features include:

• Enclosed carports/garages
• Extra plumbing
• Conversion of balcony to living space
• High end home theatres, spas and lap pools
• Balconies (where areas vary significantly from Base Complex norm)
• Basements and finish.

Minor additional features in a strata unit should be costed if the feature is recognized by purchasers of properties within the Competitive Market Set. For example, in the case of a complex where all strata units include a gas fireplace, the Complex Cost will include the fireplace. However, in the case of strata unit customization where only some units include a gas fireplace, the additional feature should only be costed if a local market study indicates that purchasers will pay a premium for a property with a gas fireplace versus a similar unit without a gas fireplace. This approach must be implemented on a regional basis to ensure equity of assessment for all similar strata property occupancies.

Strata Base Complex (BCA)
The Base Complex is determined as follows:

• Strata Apartments are equivalent to the total area of all units (as registered on the strata plan) plus 15% to allow for common areas such as hallways and entrances, and limited common area. Where detailed information on actual total building size is available, use this source.
• Strata Townhouses are equivalent to the total living area of all units (as registered on the strata plan) in the development.
• Strata Offices are the total area of all strata units and common areas as registered on the strata plan. Where detailed information on actual total building size is not available, gross-up the sum of all strata unit areas by 15%.
• Strata Industrial is the sum of the areas of all strata units (as registered on the strata plan) in the development; do not gross-up for common area as it is rare in these projects.
• Strata Retail is the total area of all strata units and common area as registered on the strata plan. Where detailed information on actual total building size is not available, gross-up the sum of all strata unit areas by 15%.

The Base Complex costing includes a basic strata unit. Also included in the Base Complex Cost are the following common areas:

• Concourse, storage, lobbies, hallways, washrooms and other public areas
• Parking Garage.
• Other amenities.
• Yard Improvements (assigned a value (PV) of $1,000-5,000 per strata unit. The value attributed to yard improvements will be dependent on the amount, quality of yard improvements, and type of strata project.

Strata Lot Area (BCA)
The area shown in sq ft or sq meters on a registered strata plan (BC Licensed Surveyor) confirming the size of each strata unit. The exception will be basement area which may be included in the strata plan for each strata unit within a complex (e.g. Townhouses). In this scenario, deduct the basement area from the SLA for each unit to determine the adjusted SLA for DCA valuation.

The basement area whether finished or unfinished will be calculated in the Commercial Building Viewer for the Strata Unit. This cost will be flagged as a Strata Extra.

Stratified Operational and Facility Areas – SOFA (BCA)
Strata lots which support the day-to-day operational requirements of the complex/building, which may or may not be limited to public/common use, or may be value-adding facilities for owners, tenants, public, etc. SOFA areas may be found in Hotels, Seniors Housing facilities, Multi-family Residential Complexes, Shopping Centres, and Office Buildings. Examples of SOFA’s include stratified lobbies, meeting rooms, dining areas, storage areas, lounges, restaurants, business centre, parking, activity rooms, spas - gyms, hallways, and common areas in shopping centres.

Strata Plan (BCA)
A plan that shows real property divided into two or more strata lots.

Subdivision (BCA)
The division of land into two or more parcels.

Subdivision Control List (BCA)
A control list showing all the subdivision plans received from the Land Title and Survey Authority (LTSA) in a particular year.

Subdivision Cover Sheet (BCA)
A listing of parent and new folios included in the subdivision; for internal use only.

Subdivision Plan (BCA)
An LTSA plan showing land divided into two or more parcels; or the consolidation of two or more parcels into a single parcel.

Sublease (BCA)
A lease given by one tenant to another to create a sub-tenancy, usually only for the duration of the original tenant's lease term. Original tenant remains liable to owner in case of default by subtenant.

Supplementary Roll (BCA)
Produced throughout the year and comprises corrections to the authenticated roll permitted under Section 12 of the Assessment Act, together with decisions of the property assessment appeal board.

Surplus Land (The Appraisal of Real Estate 2nd Canadian Edition 2002)
Land not necessary to support the highest and best use of the existing improvement but, because of physical limitations, building placements, or neighbourhood norms, cannot be sold off separately. Such land may or may not contribute positively to value and may or may not accommodate future expansion of an exiting or anticipated improvement.

Sub-part (BCA)
Building, outbuilding, or land records belonging to the folio.

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Taxable Value (BCA)
The value to which the appropriate tax rates are applied to determine the taxes payable; it is the actual value, less the value of any assessment or tax exemptions. A synonym is net taxable value.

Tax Sale (BCA)
The sale of real property, usually at auction by a public authority, in order to pay delinquent municipal taxes assessed by the owner. (Also see Forfeiture)

Tax Year (BC As)
The tax year is the year for which the assessment roll is published. For example, the 2009 assessment roll that is prepared in 2008, is for the 2009 tax year.

Telecommunications (BC Regulation 433/98, the Assessment Act Regulation)
Includes land and improvements used or held for the purposes of, or for purposes ancillary to, the business of a telecommunications common carrier that operates a telephone system, data telecommunications network or cable television undertaking, but does not include land and improvements in respect of a telecommunications common carrier that is a radio or television broadcasting or rebroadcasting undertaking.

Tenant (Black’s Law Dictionary 6th ed)
One who has the temporary use and occupation of real property owned by another person (called the “landlord”), the duration and terms of the tenancy being usually fixed by a lease.

Tenant Improvements (BCA)
Extensive tenant improvements can influence contract rents or they may be built into the asking rents as a tenant improvement allowance. When capital expenditures not accounted for in the asking rent are made by the lessor (owner), reimbursement may be accomplished through marginally higher rent that amortizes the lessor’s expenditures over all or part of the lease period. If the lessee (tenant) makes capital expenditures, the lessor may reduce the lessee’s rent for all or part of the lease term as compensation for such tenant expenditures. In many retail environments, the rents vary directly with the level of build-out (e.g. definition of shell) provided to the tenant.

Tenant Inducement (REALPAC Terminology Standards - Rent)
Tenant inducements may include cash payments (e.g. free rent), landlord payments for new fixturing and other tenant improvements, and tenant-specific building upgrades including custom signage. Refer to Rent Concessions above.

Tenure (BCA)
Denotes the type of occupier on land where the fee simple is held in the name of the Crown.

Third Party Confidential Information (BCA)
Information provided by a third party, (i.e.) not the owner of the property, that has been used to assist with the assessment of a property and the release of which would be of concern to that third party.

Third Party Public Information (BCA)
Publicly available information provided to BCA from someone other than the owner or authorized agent. For example, zoning information, building or septic permits, LTO state of title certificates. To protect against the potential for BCA to be sued for negligence (i.e. negligent misrepresentation), a person inquiring about 3rd party information should be referred by BCA staff to the source of the information (e.g. zoning authority, permit issuing authority, LTO), rather than BCA directly.

Timber (Forest Act s. 1(1))
Means trees, whether standing, fallen, living, dead, limbed, bucked or peeled.

Timber Land (BCA)
The value of timber land determined by reference to the land values for the appropriate valuation area having regard to topography, accessibility and soil quality as set out in Schedule B of the Managed Forest Land and Cut Timber Values Regulation. Timber Land value does not include Cut Timber value.

Timber Mark (BCA)
A symbol used by a logging company to identify its cut timber. This mark is used to verify that the amount of harvested timber declared on the return is correct.

Timber - Valuation Area (BCA)
Geographical zones for the collection and analysis of timber sales. The province is divided into nine areas. Refer to the Managed Forest Land and Cut Timber Values Regulation (BC Reg 90/2000) for a map of the valuation areas.

Total Potential Change (BCA)
valueBC calculated amount representing difference between Actual value for Amendment Year (roll year under appeal) and Proposed value for each property class.

Trade (IAAO – BCA Modified)

• A trade is a property transfer that includes items of real or personal property as a portion of the price. The transaction should not be used if the items traded constitute the entire price. Otherwise, if the value of the traded items is stipulated, can be ascertained, or is small in comparison with the total price, the sale can be used by including the value of the items traded in the total purchase price. As a general rule however, sales involving trades should be excluded from sales studies if the full price cannot be reliably established and there is an otherwise adequate number of valid sales
• Sale of a property whereby part or whole payment is not in cash or financing, but in goods such as a boat, automobile, chattels or other real property
• Part or all of the consideration paid for a property was in the form of goods or another parcel of real property. The value of the consideration may not reflect market value.  
• Refer to Reject Sale.

Transport (BCA)
The subject must be used as part of a continuum of carrying or conveying products. This includes places where goods may be temporarily stored and retrieved as part of the course of transport. However, “transport” implies a continuous journey; the journey may be interrupted by a stop-over, but only for a short time in the course of passing from place to place.

Transportation, Transmission or Distribution by Pipeline (Greater Vancouver Sewerage and Drainage District et al v. Assessor of Area 08 – North Shore/Squamish Valley, et al. 2001, PAAB- refer to as: 2006 PAABBC 20052174, decision dated February 1, 2006)

When one looks at the nature of the activities described in section 2 of the Regulation, the ordinary meaning of the word "pipeline" must be employed. [paragraph 62] [T]he transportation transmission and/or distribution of sewage and water supply by pipeline is a listed use in accordance with section 2 of the Regulation. [paragraph 67].

Travel trailer (Travel Manufactured Home Exemption Regulation)
A vehicle that is:

• capable of being towed on its own permanent wheels and undercarriage by a motor vehicle,
• licensed, or able to be licensed, as a trailer under the Motor Vehicle Act for use on highway, and
• not used as a principal residence.

Trespass (Black’s Law Dictionary 1990)
Trespass is an unlawful interference with one’s property; at common law, trespass to land is every unauthorized and direct breach of the boundaries of another’s land.

Turnkey (www.officespace.com)
A turnkey situation is when an owner makes a property ready for a tenant to begin business by having the tenant furnish only furniture, phone and inventory, if any. Turnkey tenant improvements are provided at the landlord's expense according to plans and specifications previously agreed upon by the parties. Unlike an allowance where the tenant pays for costs in excess of the allowance amount, the landlord bears the risk of construction in a turnkey situation.

Turnkey Rent (BCA)
Rent which reflects the utility of space which is ready for the tenant to begin business.  

Typical Lot (BCA)
A lot which includes the most common features within the Rate Code Boundaries or features which are common to the majority of the properties, such as recurring geographical features (e.g. steep slope or view), size, or zoning. The market impact of these features will be included in the Rate Amount.
 
For example, within the city of Nelson, the Typical Lot may be 25 X 120 feet with a view, moderate (~25 degree) slope, with single-family zoning. However, in certain Vancouver Neighbourhoods, the Typical Lot might be 33 X 100 feet, flat with single-family zoning.

The Typical lot will have a composite land size adjustment factor of 1.00.
Unclassified (BCA)
Folio listings or tallies are done so according to various coding parameters. Should the relevant codings required for a particular list or tally on a specific report be in error or missing then the tally could fall under a heading termed ‘unclassified’.

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Uninformed Purchaser (BCA)
The purchaser was not knowledgeable of market conditions. The purchase price may not reflect market value.

Unit (BCA)
Sleeping room or combination of bedroom and bathroom offered for rent as a unit for the overnight accommodation of a guest or guests. For the purposes of this policy the term “unit” is equivalent to “room”.

Unit of Accommodation(Ministry of Small Business and Revenue)
The basic unit of accommodation sold to a customer. For example, a unit of accommodation for a hotel or motel is generally a room or suite, whereas a unit of accommodation for a hostel or dormitory is generally a bed.

Unmatched Sale (BCA)
If a title is set to “Unmatched” status it will not be linked to a property because it has not been matched to a folio-id.

Unqualified Sale (BCA)
Data from LTO indicates the sale does not meet criteria to be used for analysis. Review is required to determine if the sale is, in fact, qualified or otherwise, e.g. Right To Purchase, Agreement for Sale, Heritage Act and Life Estates.

Unusual Financing (BCA)
The purchaser used unconventional financing to purchase the property. The price paid may or may not reflect market value.

Used or Held for (BCA)
Whether land or improvements are “used or held for” a Class 5 purpose is a question of fact. The property does not have to be in active use to qualify; it may include land operating as a buffer zone or reserved for an industrial ancillary purpose in the future. Zoning is one factor to be considered in determining the purpose for which property is being held.

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Vacant Land (Black's Law Dictionary, 8th edition)
A topographically or functionally distinct piece of property containing nothing; empty, that can have something grown on or constructed on. Courts have sometimes distinguished vacant from unoccupied, holding that vacant means completely empty while unoccupied means not routinely characterized by the presence of human beings.

Vested (BCA)
When the right, interest or title to the legal estate is transferred back to the owner or to any other party.

Vesting Order (BCA)
A court order passing legal title in lieu of a legal conveyance.

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Water Utility (Water Utility Act, s. 1)
(a) a person who owns or operates in British Columbia equipment or facilities for the diverting, developing, pumping, impounding, distribution or furnishing of water to or for 5 or more persons, or to a corporation, for compensation, and
(b) the lessee, trustee, receiver or liquidator of a person referred to in paragraph (a),
but does not include
(c) a municipality in respect of services furnished by the municipality,
(d) a person who furnishes services or commodity only to himself or herself, the person’s employees or tenants, if the service or commodity is not resold to or used by others,
(e) the Greater Vancouver Water District under the Greater Vancouver Water District Act,
(f) an improvement district or water users’ community under the Water Act,
(g) a regional district under the Local Government Act in respect of the service of the bulk supply of water
(i) in bulk to a municipality or electoral area participating in that service, or
(ii) to consumers in a municipality participating in that service,
(h) a person who supplies water by tanker truck, or
(i) a person who sells bottled water.

Worship (Young Life v. Assessor of Area 08 – North Shore/Squamish)
Reverence or adoration of a deity through acts, rites or ceremony.