Creston property assessments up by 2%

The average assessment for home and land in Creston has increased from $239,000 in 2017 to $244,000 in 2018.

Creston property owners face an average 2 per cent increase in their property assessments on 2019 assessment notices that have been appearing the mail recently.

“The majority of residential homeowners within the (Kootenay Columbia) region can expect an increase compared to last year’s assessment,” says BC Assessment’s Deputy Assessor Ramaish Shah. “The demand for housing in our resort communities has been even stronger and that is reflected in this year’s assessments.”

The average assessment for home and land in Creston has increased from $239,000 in 2017 to $244,000 in 2018, according to Shah. Along with general market activity, improvements to properties also contribute to higher increases.

By comparison, Kimberley, Nelson, Rossland, and Revelstoke saw increases averaging 18 per cent. Canal Flats topped out the area’s municipalities with a 30 per cent jump. In the region, only Elkford experienced flat or declining residential property values.

BC Assessment’s website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019’s top valued residential properties across the province. The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2019 property assessments for anywhere in the province. As a new option, property owners can unlock additional property search features by registering for a free BC Assessment custom account to store/access favourites, create comparisons and use a new interactive map.

“Property owners can find a lot of information on our website including answers to many assessment-related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2018, or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Deputy Assessor Ramaish Shah.

“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 January 31st, for an independent review by a Property Assessment Review Panel,” addsShah.

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Municipal Affairs and Housing, and typically meet between February 1 and March 15 to hear formal complaints.

“It is important to understand that increases in property assessments do not automatically translate into a corresponding increase in property taxes,” explains Shah. “How your assessment changes relative to the average change in your community is what may affect your property taxes.”

BC Assessment’s website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019’s top valued residential properties across the province. The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2019 property assessments for anywhere in the province. As a new option, property owners can unlock additional property search features by registering for a free BC Assessment custom account to store/access favourites, create comparisons and use our new interactive map.

“It is important to understand that increases in property assessments do not automatically translate into a corresponding increase in property taxes,” explains Shah. “How your assessment changes relative to the average change in your community is what may affect your property taxes.”

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 at bcasssessment.ca.

Creston Valley Advance

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