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Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 5:26 am
by Whyme2
removed.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 6:22 am
by Fancy
Ours went up significantly but isn't consistent with the neighbourhood. Can't figure out that one.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 7:41 am
by TreeGuy
Fancy wrote:Ours went up significantly but isn't consistent with the neighbourhood. Can't figure out that one.


Same with us, but it is the new 22x30 garage we built that drove ours up. Highest assessed home on the block. Up $90k

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 7:50 am
by Fancy
Just out of curiousity, was the garage finished by the end of June?

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 7:52 am
by Glacier
Fancy wrote:Just out of curiousity, was the garage finished by the end of June?

I think you mean end of Sept? Property values are based upon your property's condition in October as if it were sold in July.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 8:00 am
by TreeGuy
Fancy wrote:Just out of curiousity, was the garage finished by the end of June?



Yes, it was completed by the end of 2016. 10’ ceiling so it’s a big shop. Nice addition to our property.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 8:08 am
by Fancy
Thanks - there's a property I see quite often that has an addition of a garage built but I don't think it was finished by the end of June. Guess I was thinking along the lines if a permit was issued with a projected finished date why it wouldn't be included in the assessment.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 8:35 am
by dle
please contact a mod via pm. thx.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 8:42 am
by Fancy
Glacier wrote:I think you mean end of Sept? Property values are based upon your property's condition in October as if it were sold in July.

I don't know what I mean truthfully - now I'm confused. If assessments are done as of July 1st 2017 that would mean the property's condition in October 2016?

(die - check your pm)

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 9:20 am
by Temet Nosce
Fancy wrote:Thanks - there's a property I see quite often that has an addition of a garage built but I don't think it was finished by the end of June. Guess I was thinking along the lines if a permit was issued with a projected finished date why it wouldn't be included in the assessment.


Good question....family member is building but didn't start until Sept 2017. So undeveloped lot as of July 2017 BUT his assessment that just came out includes partial details of build and assessment doubled...so I am confused.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 9:34 am
by LANDM
It is theoretically supposed to be the value as of July 1 of the previous year (2017). However, they use sales up to October of the previous year. Also, they check on the status of new builds and renos up to around October of the previous year (2017).

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 9:47 am
by W105
when we did a reno (and of course pulled a permit), BC Assessment came out and took pics when it was signed off...your permits include the cost of the project etc..even if you haven't completed it by yrs end, they know what your plans are and they know that you will be completing it because you'll want your deposit back..

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 9:57 am
by Fancy
Too bad the assessments don't mention any improvements.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 1:43 pm
by Glacier
Temet Nosce wrote:
Fancy wrote:Thanks - there's a property I see quite often that has an addition of a garage built but I don't think it was finished by the end of June. Guess I was thinking along the lines if a permit was issued with a projected finished date why it wouldn't be included in the assessment.


Good question....family member is building but didn't start until Sept 2017. So undeveloped lot as of July 2017 BUT his assessment that just came out includes partial details of build and assessment doubled...so I am confused.

Like I said, assessed values are based on the condition of your house in October (the 31st to be exact, not the 1st as I mistakenly implied). If you start building in July or September, your assessment will reflect the stage your house is at at the end October based upon July market conditions.

The only exception would be if you house burned down in November or December, then you would get a re-assessment.

Re: 2018 Property Assessments

PostPosted: Jan 3rd, 2018, 9:39 pm
by motokelowna1
IM RICH IM RICH oh hang on IM BROKE dam taxes