Local property values hold their ground

Residential properties in the Gold Trail area hold steady on either side of the zero mark.

  • Jan. 9, 2013 5:00 a.m.

Owners of more than 5,900 properties throughout the South Cariboo and Gold Trail area can expect to receive their 2013 assessment notices in the next few days.

“Values of most homes in region are remaining stable compared to last year’s assessment roll,” said Graham Held, Deputy Assessor. “Most home owners in this region will see modest changes in the -5 to + 5 per cent range.”

Ashcroft’s assessment roll remained stable at $180 million. Cache Creek’s assessment roll increased from $100 million to $101 million. Clinton’s assessment roll remained stable at $67 million. Lytton’s assessment roll increased slightly from $37.3 million to $37.8 million.

Commercial and Industrial property assessments in Ashcroft declined slightly, on average, by 0.14 per cent; increased in Cache Creek, on average, by 3.84 per cent; increased slightly in Clinton, on average, by 0.55 per cent; and increased in Lytton, on average, by 1.07 per cent.

Owners of more than 1,300 properties throughout Logan Lake will noticed that the values of most homes in Logan Lake are remaining stable compared to last year’s assessment roll. Most home owners will see most changes in the -5 to +10 per cent range.

Commercial and Industrial property assessments in Logan Lake increased, on average, by 5.21 per cent.

Overall, the Logan Lake Assessment Roll increased from $341 million last year to $349 million this year. Almost $7.48 million was added to the 2013 roll in the form of new subdivisions, rezoning and new construction.

Owners of more than 1,400 properties throughout Lillooet can expect to see a slight drop in home value  this year compared to last year’s assessment roll. Most homeowners in Lillooet will see modest changes in the -10 to +5 per cent range.

Commercial and Industrial property assessments in Lillooet increased, on average, by 9.11 per cent.

Overall, the Lillooet Assessment Roll decreased from $310 million last year to $306 million this year. Almost $1 million was added to this year’s roll as new subdivisions, rezoning and new construction.

“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 Held.

“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 Jan. 31, for an independent review by a Property Assessment Review Panel,” added Held.

The Property Assessment Review 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 Kamloops assessment office is located at 805 Renfrew Ave. in Kamloops. 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 via www.bcassessment.ca

Visit www.bcassessment.ca for more information about the 2013 Assessment Roll including lists of 2013’s top most valuable residential properties across the province. Special for 2013, property owners can also visit the website for an online customer service survey, available until Jan. 31.

Submitted

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