Definition : Real estate tax - Real estate unit of assessment

An immovable or group of immovables whose value is recorded on the real estate assessment roll. For immovables held in divided co-ownership, the Act Respecting Municipal Taxation specifically provides that each private portion forms a separate entity for real estate assessment and taxation purposes. In this erspect, the co-owner's share of the private portion in the common portions of the immovable is part of the unit of assessment.