News

Assessment of area property values changes little in 2014

With the new year come annual property assessments, and area residents won't be seeing much of a change unless they live in Silverton or rural Upper Slocan.

In Nakusp, the overall assessment roll decreased from $234 million in 2013 to $232 this year. New Denver's essentially remained steady at $89.4 million, Silverton's assessment roll saw an increase from $44.7 million to $46.9 million, and the surrounding  rural area remained the same at $1 billion. In these areas, nearly $13 million of assessed value was attributable to subdivisions, rezoning and new construction.

Owners of commercial and industrial properties in Nakusp, New Denver and Silverton will see changes between plus or minus five per cent this year.

“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.

 

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