Castlegar property values remain stable for 2014

Castlegar Source
By Castlegar Source
January 2nd, 2014

Owners of more than 8,000 properties throughout Castlegar area can expect to receive their 2014 assessment notices in the next few days, according to BC Assessment’s Dennis Hickson.

“Most homes in Castlegar and its surrounding area have remained stable in value compared to last year’s assessment roll,” Hickson said. “For example, a typical single family home in Castlegar that was assessed at $257,000 in 2013 is valued at $260,000 for the 2014 assessment roll.”

City councillor Dan Rye said this is positive news for the community and its residents.

“It’s a good thing – it means Castlegar is holding steady, unlike some other communities in the province,” he said. “It implies stability in our community.”

Overall, the City of Castlegar’s 2014 Assessment Roll was unchanged at $1.2 billion. The assessment roll comprising Castlegar’s rural area increased from $958 million last year to $976 million this year. Of the communities noted above, a total of almost $16.0 million of the assessment change is attributable to new growth which includes subdivisions, rezoning and new construction.

In addition, owners of commercial and industrial properties in the City of Castlegar will see changes ranging from -10% to +10%.

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2013 or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January,” said Hickson.

“If a property owner is still concerned about their assessment after speaking to one of our staff, they may submit a Notice of Complaint (Appeal) by January 31, for an independent review by a Property Assessment Review Panel,” added Hickson.

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and meet between February 1 and March 15 to hear formal complaints.

The Nelson/Trail Assessment Office is located at 502 Victoria Street in Nelson. During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online by clicking “CONNECT” at www.bcassessment.ca.

This post was syndicated from https://castlegarsource.com

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