Property assessments won’t change much

  • Jan. 9, 2009 5:00 p.m.

Property owners on the islands will be receiving their annual assessment notices in the mail by next week – and most won’t notice much of a change in the value of their land and buildings. That’s because of new legislation from the BC government, says northwest area deputy assessor Bradley Lane. The legislation says that an owner’s official assessment for this year is either their 2008 or 2009 assessment, whichever one is lower. “The news for most people is their assessment is going to look exactly the same,” Mr. Lane said. “Notices will show the market value of their property as of both July 1, 2007 and July 1, 2008. The lower of these two values is the official 2009 property assessment. For most properties, this means there will be no change between the 2008 and 2009 assessment. The lower value is the basis upon which 2009 property taxes will be calculated.” Mr. Lane said generally, there were only small increases in the real estate market last year. The biggest increases were seen in waterfront properties, particularly in the Masset area. The assessment office did do a detailed re-assessment of properties in Port Clements over the past year. Mr. Lane said the northwest office chooses a few communities every year to focus in on, and this year it was Port Clements and Port Edward. A mail-out was sent to all property owners asking detailed questions about the condition of the house and the age of certain features, and this was followed up by a visit. Mr. Lane said this resulted in a re-evaluation of most Port properties, with some gaining value and others receiving a lowered assessment. According to BC Assessment, the median sale price for a single family house on the islands dropped slightly in the last quarter of 2008 to about $130,000. The median price was highest during the third quarter of 2008 and the second quarter of 2007, at $150,000. It was lowest during the third quarter of 2007, at $100,000. Property owners who feel their assessment does not reflect the market value as of July 1, 2007 or July 1, 2008 should contact the BC Assessment office as indicated on their notice, Mr. Lane said. Owners can compare their assessed value to similar properties at www.bcassessment.ca Paper copies of the latest assessment information are available at most village offices, libraries and government agent’s offices. The new legislation means assessments stay the same for this year, but that doesn’t necessarily mean that property taxes won’t go up. The decision whether to raise or lower property taxes will be made by the municipality or regional district over the coming months.

Just Posted

Seven arrested in drug trafficking investigation

Queen Charlotte RCMP arrested seven people in connection to a drug trafficking… Continue reading

QC, Port commit to electric car infrastructure

Municipalities opt in for Hwy. 16 charging network

More sailings coming to Haida Gwaii

The B.C. government says Haida Gwaii’s two BC Ferries routes are among… Continue reading

More sailings coming to 10 BC Ferries’ routes

Transportation Minister Claire Trevena said the sailings were originally cut in 2014

Mold shuts down construction at QC supportive housing project

Construction of the new 19-unit modular housing complex in Queen Charlotte has… Continue reading

VIDEO: Iconic ‘snow cone’ takes shape at B.C. park near Clearwater

Snow cone forming at Wells Gray Provincial Park one that would make Disney’s Queen Elsa proud

Indigenous leaders, politicians say Trans Mountain report flawed

The National Energy Board has endorsed an expansion of the Trans Mountain pipeline a second time

UPDATE: Reports of rashes prompt closure of all Harrison Hot Springs pools

Public pool available after Fraser Health shut down all five mineral pools until further notice

Legislation to protect B.C. farmland comes into effect

Regulations enhance food security, encourage long-term farming

Have you heard the legend of Shuswaggi, the Shuswap Lake monster?

Witness accounts as old as 1904, and as recent as 2018, place a creature in the lake’s depths

UPDATE: B.C. ticket holder winner of $25.9-million Lotto Max jackpot

Next draw set for Mar. 1 with an estimated jackpot of $10 million

B.C.-based ‘Team Tardi’ brings home gold in junior curling worlds

In a 9-4 victory over Switzerland, a Langley-based curling team earned its 2nd straight world title

B.C. weavers to help Alaska Native project honouring survivors of violence

Dozens of Chilkat and Ravenstail weavers from all over North America will be weaving 5-inch-by-5-inch squares

B.C. skip Sarah Wark and team eliminated at Scotties Tournament of Hearts

Nontheless pretty impressive stuff from the 24th-ranked team in the country

Most Read