Update: October 18, 2024

Provided By: Mike Haugen

Concurrent to the AMR process, the GOA continued the Steering Committee work specific to Assessment Year Modifier (AYM) methodology. High level consensus was reached in a number of areas”

1. AYMs should be based on publicly available data (transparent)
2. The method of determining AYMs should also be transparent.
3. AYMs should be based on the data set and not by subject to political modifications
4. AYMs can be developed in a way that reduces year over year shocks – (ex: data can be based on a rolling average over three years).

The data sets in question are a combination of Statistics Canada indices for labour, construction equipment, bulks material, and major equipment. Each would be assigned a different weighting for specific property types.

While high-level consensus was reached, several concerns still remain (such as weighting determinations and regional applicability) and consensus was reached with some conditions from the municipal side”

1. Municipal Affairs would share industry data being used to validate weighting categories.
2. The methodology used in the short term would not be relevant and precedent-setting for the future development of rates (work is needed to confirm appropriate weightings, etc.)
3. The AYM methodology will be reviewed and updated following the completion of new models for each property type.