BC Assessments are Out Now

[islandboy]

I guess for these politicians money really does grow on trees.

When we switched from 2 year terms to 4, they lost all accountability.

 

[WHO DAT]

Down 4.5% for house , up 4.5% building lot. Sooke

 

[sly_karma]

Doesn't really matter if you property values went up or down when it comes to taxation - its all about the mill rate they apply. We were initially advised our taxes in Nanoose were going up by around 15%, but just found out its 17%. I guess for these politicians money really does grow on trees.

The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.

Compare your assessment's % change to the average figure for your local govt area. Mill rate for the year is based on that average assessment change, so if your place went down 2% but the municipality average was 4% down, sorry but you'll be up for an increase in tax amount payable.

 

[Aces]

Compare your assessment's % change to the average figure for your local govt area. Mill rate for the year is based on that average assessment change, so if your place went down 2% but the municipality average was 4% down, sorry but you'll be up for an increase in tax amount payable.

I’m grateful for the deferment program

 

[leaseman]

I’m grateful for the deferment program

Ditto! Have used it since I have turned late 50s!

 

[Aquaholic]

Ditto! Have used it since I have turned late 50s!

The interest rate is not what it was, be mindful of that. I used to get my seniors clients to check with their financial advisor and do the math on paying the tax, but investing the same amount due to the difference in rates. That might be tighter on getting a gain or not an advantage now.

 

[Aces]

The interest rate is not what it was, be mindful of that. I used to get my seniors clients to check with their financial advisor and do the math on paying the tax, but investing the same amount due to the difference in rates. That might be tighter on getting a gain or not an advantage now.

Don’t matter. The property is appreciating so fast it more than compensates for the interest

 

[Corey_lax]

Received the Port Coquitlam budget today and looks like property tax is going up 5.58% this year. That’s based on a single family house that’s assessed at 1.078m but I don’t know if those exist.

So my assessment went up 3.6ish but the tax went up 5.6ish