2013 BC Assessments are out

Many homeowners will see a drop in their property assessment this year, for the first time in many years.  But not everyone...

"Looking at the city of Vancouver, if you drew a graph for a 10-year period from 2002 to 2012, it pretty much is a very steep curve in terms of value increases, with a blip in 2008 when values appeared to be falling a bit.  Now it has sort of flattened off; the market is taking a bit of a breather," said Grant McDonald, deputy assessor of BC Assessment's Vancouver Sea to Sky region.

Areas like Whistler and Sunshine Coast, which have a lot of recreation properties, are seeing the biggest drop in property assessments.

From BC Assessment and reported by CTV, on average:

• Single Family House in Vancouver Westside down $20,000
• Single Family House in Vancouver Eastside up $50,000
• Single Family House in North Vancouver District down $60,000
• Single Family House in North Vancouver City down $8,000
• Single Family House in Langley township up $4,000
• Single Family House in Langley City down $4,000

Remember property assessments for 2013 reflect market values as of July 1, 2012.  People who feel their property assessment does not reflect the home's market value can contact BC Assessment office for an appeal.  All Appeals will be accepted until January 31.

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