s. 1
— Reduction in actual value for supportive housing property
For the purposes of section 20.4 (1) of the Assessment Act, the amount established for a property is the amount that is equal to the actual value otherwise determined under the Assessment Act for the property less $2.
s. 2
— Actual value of land and improvements
For the purposes of entry on the assessment roll, the actual value of land and improvements that are designated as supportive housing property is as follows:
s. 2(a)
the actual value of the land is 50% of the actual value of the designated supportive housing property;
s. 2(b)
the actual value of the improvements is 50% of the actual value of the designated supportive housing property.