Valuation of the average home in Rossland goes down

Property values for homes in Rossland have dropped, according to the latest figures from BC Assessment.

Property values for homes in Rossland have dropped, according to the latest figures from BC Assessment.

In the 2014 completed assessment role for Rossland (valuation date of July 1, 2013) dropped by an average of $5,000, meaning the average value of an average home in the city was $238,000, down from $243,000.

Even so, that figure is the highest out of the four neighbouring communities of Trail (down from $174,000 to $171,000), Warfield (the same at $170,000), Fruitvale (down from $186,000 to $185,000) and Montrose (up from $219,000 to $222,000).

Owners of more than 11,000 properties throughout Rossland, Trail and the surrounding villages and rural area can expect to receive their 2014 assessment notices in the next few days.

“Most homes in the municipalities of Rossland, Fruitvale, Montrose, Trail and Warfield, and in the surrounding rural area have changed only marginally from last year’s assessment roll,” said Dennis Hickson, BC Assessment’s deputy assessor in Nelson.

As a result of the valuation drop, the City of Rossland’s assessment roll decreased by $10 million, from $588 million last year to $578 million this year.

Down the hill, the City of Trail’s 2014 assessment roll stayed static relative to 2013 at $1.1 billion, as did the Village of Warfield’s assessment roll at $163 million.

Across the river in the Beaver Valley, the Village of Fruitvale’s assessment roll remained unchanged at $194 million this year, while the Village of Montrose’s assessment roll increased marginally from $105 million last year to $108 million this year.

The assessment roll comprising the rural area around Rossland and Trail increased more substantially from $786 million last year to $810 million this year due mainly to the value contribution of the construction of the Waneta Dam hydroelectric facility expansion.

In the region, almost $30.4 million of the assessment value is attributable to subdivisions, rezoning and new construction, said Hickson.

Valuations rose in Nelson and Castlegar, with a typical single family home in Nelson assessed at $351,000 in 2013 now being valued at $354,000, while a $257,000 in Castlegar in 2013 is now valued at $260,000.

Commercial and industrial properties in the area were expected to see changes ranging from a drop of five per cent to a rise of five per cent, said Hickson.

He said if people feel their assessment does not reflect market value (as of July 1, 2013), they should contact BC Assessment this month.

“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 Jan. 31, for an independent review by a property assessment review panel,” said Hickson.

The panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and meet between Feb. 1 and March 15 to hear formal complaints.

The assessment office servicing Rossland is located at 502 Victoria Street in Nelson. During the month of January, office hours are 8:30 a.m. to 5 p.m., Monday to 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.

Visit www.bcassessment.ca for more information about the 2014 Assessment Roll including lists of 2014’s top 100 most valuable residential properties across the province.

 

Just Posted

UPDATE: DriveBC says road re-opened after accident

Highway 22 closed for seven hours on Saturday

Forestry workers set to begin job action in Kootenays

Operations in Castlegar, Cranbrook, Galloway, Elko, Radium, Golden may see job action this week.

Tour company plans shuttle service to Kelowna for stranded travellers

SMT Kootenay wants to help travellers get in and out of ‘Cancelgar’ in winter months

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

Castlegar pastors find life in wheelchair a challenge

The men found the obstacles were both physical and mental.

Josie Hotel will be ready on opening day, says management

West Kootenay’s first ski-in, ski-out boutique hotel to open this month

NEB approves operating pressure increase to repaired Enbridge pipeline

The pipeline burst outside of Prince George on Oct. 9, now operating at 85 per cent

B.C. VIEWS: Setting speed limits in a post-fact environment

Media prefer ‘speed kills’ narrative, even when it fails to appear

Controversy erupts over Japanese flag in B.C. classroom

Online petition demanding removal has collected more than 5,700 signatures

Death toll rises to 76 in California fire with winds ahead

Nearly 1,300 people remain unaccounted for more than a week after the fire began

Trump says report on Khashoggi death expected in a few days

Jamal Khashoggi was a columnist for The Washington Post who was slain Oct. 2 inside the Saudi Consulate in Istanbul

CUPW requests mediator as deadline for Canada Post offer expires without deal

Prime Minister Justin Trudeau weighed in Saturday night with a last-minute plea to the two sides

Trudeau says he won’t negotiate in public on future of LGBTQ rights in USMCA

Legislators urged Trump not to sign the agreement unless the language was removed.

Price makes 36 saves as Habs edge Canucks 3-2

Late goal lifts Montreal past Vancouver

Most Read