Property owners can expect to soon receive their 2019 assessment notices.
In the Cariboo, assessments for single-family residential properties has increased by approximately 20 percent in 100 Mile House, 8 percent in Quesnel, 11 percent in Wells, and 9 percent in Williams Lake compared to the average assessed value last year.
“What we do is we look at market data and we’ll look at what similar properties are selling for close to July 1st,” said BC Assessment, Deputy Assessor Jarret Krantz.
“And what we do is we use that market value as a major indicator of assessing all the other properties so it’s based on just what the market has done over the past year.”
Krantz says anyone who feels that their property assessment does not reflect market value as of July 1, 2018, or sees incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible.
“They’ve gone out in the mail, and they’re with Canada Post so they can expect to see them within the next few days depending on mail service,” he said.
“BC Assessment sets the assessed value and then, of course, the taxing authority sets the tax rate for the community. If the assessed value has changed drastically then what the average change for that property class has been then there could be a difference in taxes, but it depends on what the tax rate is set by the taxing authority.”