Property values in the Creston Valley and East Shore have not changed significantly and even dropped, in the last year.
“Assessments in the Kootenay Lake area have, for the most part, remained relatively stable in value compared to last year’s assessment roll,” said Dennis Hickson last week.
Hickson, who works out of Nelson, is a deputy assessor with BC Assessment. Property taxes are based on the values assessed each year by Hickson and his team.
“A typical single-family home in Creston that was previously valued at $272,000 is valued at $268,000 for the 2015 assessment roll,” he said. “In Kaslo, a similar home saw a shift from $181,000 to $173,000 for 2015. Most homeowners in the surrounding rural areas are seeing changes in the minus 10 per cent to plus 10 per cent range.”
The 2015 assessment for properties in the Town of Creston has dropped by $7 million to a total of $699 million. Kaslo had an identical $7 million drop to $175 million. Rural areas around the two towns have a total assessed value of $2.1 billion, which remains unchanged from 2014.
When property owners receive their assessment notices in the mail this week they also receive information about how to question the information, and how to appeal it if they are dissatisfied.
“Property owners who feel that their property assessment does not reflect market value as of July 1, 2014, or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January,” Hickson said.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a notice of complaint (appeal) by Feb. 2, for an independent review by a property assessment review panel.”
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between Feb. 1 and March 15 to hear formal complaints.
The Nelson/Trail Assessment Office is located at Suite 176, 333 Victoria St. in Nelson. January office hours are 8:30 a.m.-5:00 p.m. Monday-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.
A free online service allows the general public access to search, check and compare properties throughout British Columbia. The newly enhanced website features improved navigation, an interactive map and street-front imagery.