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2017 Property Assessment Increase


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#41 LeoVictoria

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Posted 30 December 2016 - 10:52 PM

My sister's place just north of Qualicum saw a 42% increase in the assessment. She may want to challenge this since most of that was in the building value and as far as I know she didn't make any significant change to her house in the past year.

 

But she upgraded the land?   

 

The distinction between building and land value is mostly academic.



#42 Nparker

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Posted 30 December 2016 - 10:59 PM

But she upgraded the land? 

No. The building assessment jumped by 70%; land by only 10%. I find this puzzling.



#43 VicHockeyFan

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Posted 31 December 2016 - 07:06 AM

Mine is up over $210k from $708k to $921k  :badpc:

 

You're richer than you think?  

 

I've never seen so many millionaires complaning.


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#44 spanky123

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Posted 31 December 2016 - 07:17 AM

You're richer than you think?  

 

I've never seen so many millionaires complaning.

 

Wait until property values drop next year!



#45 rjag

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Posted 31 December 2016 - 08:12 AM

How does that 30% increase compare with your neighbours' assessments?


Seems inline, the big increase is in the land price, they are indicating $700-$800k for land values in the area

#46 sebberry

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Posted 31 December 2016 - 09:03 AM

Wasn't expecting this:

 

Total Value $300,700

Assessed as of July 1st, 2016
Previous Year Value $263,200

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#47 Nparker

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Posted 31 December 2016 - 09:20 AM

Wasn't expecting this...

Now if only you could sell for the assessed price or higher, move to an equivalent residence in the CRD and pocket the increased "value".


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#48 Bingo

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Posted 31 December 2016 - 09:27 AM

You're richer than you think?  

 

I've never seen so many millionaires complaining.

 

 

Yeah none of it's worth worrying about if you don't plan on moving for a few years., just sit back and enjoy the day.


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#49 Nparker

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Posted 31 December 2016 - 09:51 AM

Yeah none of it's worth worrying about if you don't plan on moving for a few years., just sit back and enjoy the day.

I'm not worried about the increase in my assessment. It seems to be on par with my neighbours' assessments so I doubt it will impact my property taxes very much.



#50 LeoVictoria

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Posted 31 December 2016 - 10:24 AM

Whoops BC Assessment thinks I have an extra 350sqft.  Not sure how I didn't notice this before.  Appeal here I come!   The funny thing is that it would probably sell for the $778,000 that they assessed it as, but it will be revised down on appeal I hope.   Also given they just use the previous year's measurement values the previous owners probably overpaid their taxes for decades.


Edited by LeoVictoria, 31 December 2016 - 10:26 AM.


#51 snub

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Posted 01 January 2017 - 08:10 PM

Looks like the Western Communities are still affordable.....compared to everywhere else around here.

 

My 5 bedroom rental house in Langford (3 bedrooms up, 2 bedroom suite on the main level) is now valued at $410,000, up from $391,000 last year.....up 5%.

 

My 3 bedroom rental house in Colwood is now at $373,000, up from $337,000 last year....up 11%.

 

My humble personal 2 bedroom shack in Langford is now $338,000, up from $319,000 last year....up 6%.


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#52 VicHockeyFan

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Posted 01 January 2017 - 08:18 PM

^ Sounds like we need a cap/tax on local ownership.  snub has too many homes.   :banana:


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#53 MarkoJ

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Posted 02 January 2017 - 08:32 PM

Looks like the Western Communities are still affordable.....compared to everywhere else around here.

 

My 5 bedroom rental house in Langford (3 bedrooms up, 2 bedroom suite on the main level) is now valued at $410,000, up from $391,000 last year.....up 5%.

 

My 3 bedroom rental house in Colwood is now at $373,000, up from $337,000 last year....up 11%.

 

My humble personal 2 bedroom shack in Langford is now $338,000, up from $319,000 last year....up 6%.

 

You could sell all of those places for substantially more than assessment; but you are right compared to Oak Bay it is affordable.


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#54 snub

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Posted 02 January 2017 - 09:49 PM

I'm wondering where they come up with land values. My lot and my neighbors lot are identical in size and topography. His lot has little grass, mostly gravel. He has 1 tree, no bushes, no flowers. Nada. I have many trees, nice lawn, bushes and  flowers. His lot is valued at $26,000.00 more than mine.

 

What's up with dat?



#55 dasmo

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Posted 03 January 2017 - 07:23 AM

I'm wondering where they come up with land values. My lot and my neighbors lot are identical in size and topography. His lot has little grass, mostly gravel. He has 1 tree, no bushes, no flowers. Nada. I have many trees, nice lawn, bushes and flowers. His lot is valued at $26,000.00 more than mine.

What's up with dat?

Your living on yours ;-)

#56 victoriassecret

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Posted 03 January 2017 - 08:03 AM

Who cares the goal is to get the lowest assessment possible. 


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#57 VicHockeyFan

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Posted 03 January 2017 - 08:04 AM

Who cares the goal is to get the lowest assessment possible. 

 

Except the year you want to sell, I suppose.


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<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#58 VicHockeyFan

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Posted 03 January 2017 - 10:01 PM

Walking the oceanfront French Creek acreage that’s been in his family for 70 years,  Joe Stanhope can remember everything from his own childhood.


 
“There wasn’t a lot of people here in those days. It was the end of the world,” says the French Creek resident.

 

But as BC Assessment rolls out its 2017 property valuations, he worries what the whopping increase waiting for him at the mailbox will mean for his quality of life.

 

“People with high assessments don’t get a homeowner grant, so you’re penalizing a lot of the longtime residents who’ve been on their property. I mean I’m a senior citizen; I have a fixed income and that hits me pretty hard,” he says.

 

The longtime advocate for taxpayers and seniors wonders what this will mean for nearby communities like Qualicum Beach, which is home to the oldest population in Canada.


 
“There’s a lot of people like that and I don’t know what the provincial government is going to do,” he says.

 

Currently, the threshold for a BC home owner grant, is $1.2 million but with rapidly rising property values across Vancouver Island and the Lower Mainland, suddenly a lot fewer people qualify.

 

http://www.cheknews....nt-hold-251917/

 

First-world problem dudes, if you can not find a way to pay your property taxes on a  $1.2M home, you fail home economics/finance 101.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#59 LeoVictoria

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Posted 03 January 2017 - 10:27 PM

http://www.cheknews....nt-hold-251917/

 

First-world problem dudes, if you can not find a way to pay your property taxes on a  $1.2M home, you fail home economics/finance 101.

 

Never mind he doesn't even need to pay them as a senior citizen.   I'm sure his kids will be happy to get the 1.2M home even if there is a few tens of thousands in taxes to be paid.



#60 VicHockeyFan

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Posted 04 January 2017 - 10:28 AM

Never mind he doesn't even need to pay them as a senior citizen.   I'm sure his kids will be happy to get the 1.2M home even if there is a few tens of thousands in taxes to be paid.

 

How about the kids start paying the taxes now, fair deal?


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

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