Are farm quota and farmland valued separately when a farm estate is settled in Ontario?

Yes — farm quota and farmland are different types of property with different markets, so they're generally identified and valued separately when a farm estate is settled, even though both count toward the estate's total value. Quota for supply-managed commodities such as dairy, poultry, or eggs is valued according to the rules and pricing set by its governing marketing board, since it typically can only be transferred within that system. Farmland, by contrast, is valued the way other real estate is valued — based on comparable sales, location, and land quality — independent of whatever quota happens to sit on that land.

This distinction matters practically because an estate trustee needs a defensible value for each asset to complete the estate's paperwork, including the figures used to calculate Estate Administration Tax, and because quota and land may end up going to different beneficiaries or being sold on different timelines. A farm run through a corporation adds another layer, since it's the corporation's shares — which may represent both the quota and the land — that actually need valuing. Getting professional valuations for quota and land separately, rather than one bundled farm figure, helps avoid disputes among beneficiaries later.