Thank you, Madam Speaker. I have a return to an oral question asked by Mr. Patterson on February 14, 1994.
Where the GNWT has appraisals done for a house on leased land, no land value is assigned to the property. The government gives the purchaser a leasehold interest only. In conjunction with the sale of the house and other improvements that might be on the land, they get a 30 year lease for the land. The purchaser has to make the annual lease payments on the land. Thank you.