For What It’s Worth…

Very shortly you will receive your property tax assessment in the mail; Happy New Year 😉

BC Assessment determines ownership and tax liability, classifying and valuating each property in British Columbia as of the preceding July 1st.Property Assessment

It is necessary for these estimated values to be on the same date to achieve an equitable distribution of property taxes in the following period for all BC homeowners.

Although B.C. Assessment information is strictly a base for real property taxation, it is commonly misconstrued as the current market value.

It does not however provide an answer to the main question of property owners, “What is the current value of my property?”

The current market value is the most probable price of a property between a willing purchaser and seller based upon the most recent comparable sales in an open market, among similar properties, and within a given neighbourhood.

If you want to know the current market value of your home then contact your local realtor who knows your area, and is trained in preparing a comparative market analysis (CMA).

With all of the things that have been going on in the Tri-cities with OCP’s and transit expansion, you might want to make sure that your property assessment reasonably reflects the value. Here is the link to appeal.

If you’re a landowner within an 400 meter radius of one of the planned Evergreen Line stations then the chances are you have already been approached by parties of interest. Please be careful, and if you are thinking of talking to someone, first make sure you have someone knowledgeable representing you.

If you have any questions on the current value of local residential properties then please feel free to give me a call, or send me an email.

Take care.

For What It’s Worth…

One thought on “For What It’s Worth…

  • January 1, 2014 at 2:04 pm
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    …many properties have already sold by owners wanting to avoid being in the Evergreen Line construction zone, but I believe in their haste, a few didn’t do their homework. With the inevitable development this construction will continue beyond the SkyTrain completion in 2016.

    Reply

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