Changes are coming to the fee structure of land leases in the Northwest Territories.
It will come as the first change in twenty years to lease rent minimums.
There has been inconsistencies in lease fees depending on whether it is commissioner land, land around or within a community, or territorial land, land in rural areas.
Director of Commissioner’s Land Administration, Blair Chapman says their first step to sorting out the discrepancies was to implement a consistent minimum lease fee.
As a first step to try to deal with these inconsistencies we would then establish a lease rent minimum for either territorial or commissioner’s land and set that value at $840
Chapman adds that lowering the percentage used to calculate residential lease rents from ten percent of the assessed value to five, residents could see a lower yearly fee.
The rate changes begin as of April 1st.