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2 In these Regulations,

accepted value

accepted value means the value that, in the opinion of the Minister, would be attributed to federal property by the authority in a province authorized by provincial law to make such attribution for purposes of determining the base for computing the real estate tax, without regard to any ornamental, decorative or non-functional features thereof, as the base for computing the amount of real estate tax applicable to that property if it were taxable property; (valeur agréée)

assessed value

assessed value means the value attributed to taxable property as the base for computing the amount of real estate tax applicable to that property by the authority in a province authorized by provincial law to make such attribution for purposes of determining the base for computing the real estate tax; (valeur cotisée)

federal property

federal property means real property owned by Her Majesty in right of Canada and any building owned and occupied by Her Majesty situated on land that is owned by a person other than Her Majesty and that is not taxable property, but does not, except as provided in this definition, include

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• (e) real property under the control, management or administration of the National Railways, as defined in the Canadian National Railway Act, or a corporation, company, commission, board or agency established to perform a function or duty on behalf of the Government of Canada,

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• (g) the highway commonly known as the “Alaska Highway” other than any building used in connection with the operation and maintenance thereof or the land appurtenant to such buildings,

except any property referred to in paragraph (a), (b) or (d) that is owned by Her Majesty in right of Canada and that is leased to or occupied by a person who is an employee of Her Majesty in right of Canada or a member of the Canadian Forces and used by such person as a domestic establishment; (propriété fédérale)

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• (2) The Minister may, in determining the amount of any grant to a province or provincial agency under this section, deduct from the amount that might otherwise be payable

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  • (b) such other amount as the Minister considers appropriate having regard to the existence of any special circumstances arising out of any heavy concentration of federal property in the part of the province where the federal property is situated.

• 3 (1) Where, in a form prescribed by the Minister, a province or provincial agency applies for a grant, the Minister may, in his discretion, out of moneys provided by Parliament, make a grant to the province or provincial agency, as the case may be, in respect of federal property situated in the province, but no grant shall be made in an amount exceeding that authorized by these Regulations.

1 These Regulations may be cited as the Real Property Grants Regulations.