Canada Revenue Agency property valuations
Property appraisals for CRA tax matters.
Independent fair market value appraisals for capital gains, change of use, date of death, gifts, trusts and more, across Toronto and the Greater Toronto Area.
What is a tax appraisal?
A tax appraisal is an independent, written opinion of a property’s fair market value as of a specific date, prepared for a tax purpose. The Canada Revenue Agency (CRA) generally uses fair market value to work out capital gains, deemed dispositions and other tax results, so a documented value helps you and your accountant report with confidence.
We prepare reports for owners, executors, trustees, accountants and lawyers across Toronto and the GTA. We are appraisers, not tax advisors, so your accountant or tax lawyer decides how the value is used on your return.
This page is general information, not tax or legal advice. Tax rules change and depend on your situation, so confirm with your accountant or tax lawyer. We provide the property valuation only.
Tax appraisals for every CRA situation
Each report is written for a specific tax purpose and valuation date.
Capital gains
A documented fair market value to support capital gains and your adjusted cost base.
Change of use
Fair market value on the date a home becomes a rental, or a rental becomes your home.
Gifts and family transfers
Fair market value for gifts and sales to family or related parties.
Date of death
Fair market value as of the date of death for the final tax return and the estate.
Probate and estate tax
Real estate values for estate administration tax and estate lawyers.
Trust 21-year rule
Fair market value on a trust’s 21-year anniversary.
Residency change
Value on the date you become or stop being a Canadian tax resident.
Non-resident sales
Value support for non-residents selling Canadian real estate.
Property tax appeals
Market value evidence for MPAC reviews and Assessment Review Board appeals.
CCA recapture
Land and building split for CCA recapture and terminal loss calculations.
GST/HST valuations
Fair market value for GST/HST on new homes, self-builds and conversions.
Charitable donations
Fair market value for donated land and ecological gifts.
Inherited property
Document your cost base on an inherited property before you sell.
Transfers to a corporation
Fair market value for property moved into a corporation.
CRA review support
A valuation report to support the value you reported if the CRA asks.
Cottages and rentals
Fair market value for cottages and rentals when sold, gifted or passed on.
Do you need a tax appraisal?
You may need one if any of these apply to you.
- You sold or gifted a property to a family member
- You converted your home into a rental, or a rental into your home
- You inherited a property or are an executor
- You are selling Canadian real estate as a non-resident
- A trust you manage is reaching its 21-year anniversary
- You are moving property into a corporation
- You are donating land or property to a charity
- You believe your municipal property assessment is too high
How a tax appraisal works
Contact us
Tell us the address, the tax purpose and the date you need the value as of. We reply with a quote and timeline.
We confirm the details
We confirm the valuation date and what your accountant or lawyer needs the report to show.
We inspect and analyze
We inspect the property and compare sales from around your valuation date.
You receive the report
A clear written report you can share with your accountant, lawyer or executor.
How we value your property
We use the method that fits your property and tax purpose, and sometimes more than one.
Direct comparison approach
The standard for houses, condos, cottages and vacant land. We compare your property with recent nearby sales.
Income approach
Used for rental and commercial property. We consider the income the property earns and market rates of return.
Cost approach
Used mainly for new construction and special-purpose buildings. We estimate land value plus the cost to replace the building, less depreciation.
CRA tax appraisals across Toronto and the GTA
We value properties in every GTA region. If your city isn’t listed, call us.
Common questions
What is a tax appraisal?
A tax appraisal is an independent, written opinion of a property’s fair market value as of a specific date, prepared for a tax purpose such as capital gains, an estate or a property tax appeal.
Does the CRA require an appraisal?
The CRA does not require an appraisal for every transaction, but it expects the values you report to be supportable. An appraisal is a common way to support fair market value.
What is fair market value?
It is generally the highest price a property would sell for in an open and unrestricted market between informed, willing buyers and sellers, as of a specific date.
Can you value a property as of a past date?
Yes. We prepare retrospective appraisals as of dates such as the date of death, the date a property changed use, or the date you acquired it.
How long does a tax appraisal take?
After the site visit, most reports are delivered within a few business days. Rush options may be available.
How much does a tax appraisal cost?
Fees depend on the property type, size and purpose. Request a quote and we will confirm the price before we start.
Can you deal with the CRA for me?
No. We provide the valuation report. Your accountant or tax lawyer handles communication with the CRA.
Which cities do you serve?
We provide tax appraisals in Toronto, Mississauga, Brampton, Vaughan, Markham, Richmond Hill, Oakville, Burlington, Pickering, Ajax, Whitby, Oshawa and across the GTA.
Request a quote
Thank you. We received your request and will reply soon.
If your request is urgent, please call us or email us directly and we will respond as soon as possible. Your request is kept confidential.
Phone: 416-728-1666
Email: Housevalue@iCloud.com