BC property assessments show large increases

“The assessors look at every single sale that occurs within the city”.

Held adds the BC Assessment Authority’s website has been enhanced to make it more user-friendly, and homeowners can find plenty of neighbourhood information online.

More than 71,000 properties throughout the Thompson area will be getting their 2016 assessment notices, which reflect market value as of July 1, 2015. Single-family market movement in Whistler, Pemberton and the Sunshine Coast is less dramatic, with typical increases in the zero to 15 per cent range.

According to the examples released this morning by BC Assessment, an East Side Single-Family home valued at $993,000 a year ago, has well and truly broken the seven digit ceiling at $1,267,000.

“Between the summer of 2014 and the summer of 2015, Edmonton’s economy continued to move forward, even with the recent developments in the oil industry”, Risling told a news conference.

For condo, duplex, or townhouse owners, your assessments went up a little more; about 4.8%.

The value of commercial and industrial properties increased by 0.7 per cent.

The assessments are done annually and are used to calculate each homeowner’s share of property tax paid to government.

For house values in cities outside Vancouver, here’s B.C. Assessment’s media release. Risling said 30 to 35 per cent ended up going to the review board.

Edmonton’s Homesteader community, January 4, 2016.

Property owners can appeal their assessment notices but not their tax bills.

Total taxable value of assessed properties in Edmonton now stands at $115.6 billion for residential properties and $56.7 billion for non-residential properties and apartments buildings.