You should have received your property assessment notice and may be wondering what it all means or have some questions.
First of all you should be aware of is that although you have only just received your notice it is based on values as of July 1, 2019 so is already 6 months out of date and will be 18 months out of date come December 2020.
Over the last couple of years we have seen the values have double digit % increases over the previous years. However, the average for Nanaimo for the 2020 assessment is a 2% increase over the 2019 assessment.
The figures for Nanaimo (single family homes) show the typical assessed value increase from $490,000 to $504,000 for 2020.
Town of Ladysmith is $426,00 to $445,000.
District of Lantzville is $623,000 to $610,000.
City of Parksville is $481,000 to $485,000
Town of Qualicum Beach is $615,000 to $596,000.
The largest increase on Vancouver Island for single family homes was the District of Tofino which increased 15% - $767,000 to $883,000 and the Village of Alert Bay which also increased 15% - $129,000 to $148,000,
The largest decrease on Vancouver Island for single family homes was the Village of Zeballos which decreased 9% - $64,000 to $58,000.
The Village of Zeballos also had the lowest typical assessed value and the highest was the District of Oak Bay at $1,144,000.
The top 10 assessed properties on Vancouver Island are:
It is possible to file a notice to appeal if you disagree with the value but the deadline for filing a notice of complaint (appeal) is January 31st. The procedure for this can be found at https://info.bcassessment.ca/Services-products/appeals.