Stornoway is the name of the official residence of the Leader of the Opposition in Canada, and has been used as such since 1950. It is provided in recognition of the opposition leader's position. Located at 541 Acacia Avenue in the Rockcliffe Park area of Ottawa, Stornoway has assessed value $4,225,000 (2008) (based on this value, which is only approximation of market value, the municipal property taxes are calculated) and is maintained with $70,000 a year in government funds.