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Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Valuation Date

The date used for establishing the assessed value for all properties in the Province. The valuation date for 2001 and 2002 taxation years is June 30, 1999. Formerly called a "base year".

Vendor's Lien

A notice registered on title by the vendor, protecting the vendor for the unpaid balance of the purchase price. It is usually collaterally secured by a mortgage.