Well, again, the amount of the lease is based on the appraised amount. So if the appraisal comes in at $40,000 the amount expected to be paid yearly would therefore, in a normal case, be $4,000, although as I mentioned earlier there could be exemptions for a senior citizen. So it is based on the appraised value, a percentage of the appraised or assessed value of the property. It's not so different than leases anywhere and it seems to me that a yearly lease or rental of 10 per cent of the appraised or assessed value is not an unusual or extraordinary amount. Thank you, Mr. Chair.
Louis Sebert on Consideration in Committee of the Whole of Bills and Other Matter
In the Legislative Assembly on February 23rd, 2017. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matter
Consideration in Committee of the Whole of Bills and Other Matter
February 22nd, 2017
See context to find out what was said next.