Property owners around B.C. recently received their 2013 assessment notices, and in this area, there has been a modest decrease in their assessment.
The City of Rossland assessment roll decreased from $603 million last year to $588 million this year.
City of Trail, on the other hand, had a static assessment roll, staying at $1.1 billion. The Villages of Fruitvale and Montrose also remained the same, at $194 million and $105 million, respectably.
BC Assessment administers the assessments and provided examples of the real-world implications of the drop.
For instance, if your property was valued at $250,000 for the 2012 assessment roll, then its assessed value would drop to $243,000 for 2013’s roll.
“Most homes in the municipalities of Trail, Rossland, Fruitvale, Montrose, and Warfield have decreased modestly from last year’s assessment roll,” said Dennis Hickson, deputy assessor at BC Assessment.
The date of the valuation is July 1 of each year, so this year’s roll numbers come from the value of the property from July 1, 2012.
“Property owners who feel that their property assessment does not reflect market value as of July 1, 2012 or see incorrect information on their notice should contact our office 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 appraisers, 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 at www.bcassessment.ca.