48% here SwiftRage

43% increase for me in Langley :-|

On the back of the sheet it said assessment value * tax rate = taxes payable. It also mentioned how to dispute the value too lower your taxes.

Reading all these posts, and all i can think is

i cant even get my foot in the door for a 400k shitter townhouse in tri-cities

:okay:

Everyone who's values went up....
How are you finding is the best way to bring it up in front of people so they know how rich and intelligent of a real estate investor you are?

Its pretty much all I ever hear at any coffee shop is some clown yelling how much his condo went up in value and how "rich" he is now.

Through this forum.

Seriously though, I bought a house to live in and raise my kids, not just for a year to avoid the capital gains tax and move on to the next investment house.

Well, all my friends have bigger and better houses, so I can't even begin to.............:okay:

Still waiting for that 50% housing market crash here to get myself into a house. :badpokerface:

from THEPROVINCE.COM


1 – Your assessment is essentially an appraisal of your property’s value, considering both changes in land value, including things such as rezoning nearby, and improvements to the building, set by the B.C. Assessment Authority as of July 1 every year.

“Whatever (market) changes happened after July 1, 2016, will be factored into 2018 assessments,” Grant said.


2 – Municipalities use assessments to adjust property-tax rates to account for changes in assessed values for various property classes. The concern for homeowners is whether their assessment rose by more than the average for their property class. If so, Grant said, they will see a tax increase larger than a municipality’s general increase. Homeowners whose assessments rose by less than the average will get a tax break.

3 – The provincial government uses property assessments to establish eligibility for the B.C. Homeowners Grant (the $570 per household grant offered to help defray property taxes on homes that are their principal residence). The threshold value for 2016 was set at $1.2 million, above which the grant is reduced $5 per $1,000 value. However, Finance Minister Mike de Jong said Tuesday that the province is reviewing the threshold considering soaring assessments.

4 – Homeowners with questions about their assessments can go online at B.C. Assessment’s e-valueBC site to check how their assessment compares with their neighbours and comparable property sales that would have been used in setting the value. If that doesn’t answer questions, they’re welcome to call B.C. Assessment, said Brian Smith, deputy assessor for the Fraser Valley. It gives assessors a chance to figure out if there are any discrepancies.

“We always encourage people to call us first,” Smith said. “Sometimes it’s something we’re able to easily resolve, or with a potential better understanding of where their assessment does come from, people are more content with having seen that type of increase.”

5 – Homeowners have the right to formally appeal their assessments if they still disagree with the result, said Grant. “Failing an understanding at that level, (homeowners) can certainly file an independent complaint,” he said. Those are heard by three-member independent, property assessment review panels in each community. The deadline to appeal is Jan. 31. Typically, one to two per cent of homeowners appeal assessments, Grant said.