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Greater Vancouver Region 2017 Property Assessment notices in the mail VANCOUVER, Jan.
3, 2017 /CNW/ In the next few days, owners of more than 513,000 properties throughout the Greater Vancouver region can expect to receive their 2017 assessment notices which reflect market value as of July 1, 2016. "The majority of residential home owners louis vuitton bucket bag authentic within the region can expect a significant increase compared to last year's assessment," says Assessor Jason Grant. "Increases of 30 50 per cent will be typical for single family homes in Vancouver, North and West Vancouver, Burnaby, Tri Cities, New Westminster and Squamish. Typical strata residential increases thoughout these areas will be in the 15 to 30 per cent range." Overall, the Greater Vancouver region's total assessments increased from $636.2 billion in 2016 to $825.2 billion this year. louis vuitton agenda dimensions A total of almost $10.9 billion of the region's updated assessments is from new construction, subdivisions and rezoning of properties. The summary below provides estimates of typical 2016 versus 2017 assessed values of residential homes and residential strata properties throughout the region. These samples are actual individual louis vuitton alma bb uk assessment examples and are not an average. "Commercial and industrial properties in close proximity to Vancouver will typically see increases in the 15 40 per cent range," adds Grant. The website also provides self service access to the free online e valueBC service that allows anyone to search, check and compare 2017 property assessments anywhere in the province. "Property owners can find a lot of information on our website including answers to many assessment related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2016 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January," says Grant. "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 January 31st, for an independent review by a Property Assessment Review Panel," adds Grant. The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between February 1 and March 15 to hear formal complaints. Property Assessments and the 2017 Assessment Roll Total number of properties on the 2017 roll is 2,017,364, an approximate 1% increase from 2016. Total value of real estate on the 2017 roll is $1,667,918,048,627 ($1.67 trillion), an increase of over 25% from 2016. Total amount of louis vuitton purses delightful 'non market change', including new construction, rezonings and subdivisions is approximately $25.2 billion, an increase of almost 24% from the 2016 roll of $20.4 billion. Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment. Assessments are the estimate of a property's market value as of July 1, 2016 and physical condition as of October 31, 2016.
This common valuation date ensures there is an equitable property assessment base for property taxation. Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property. When estimating a property's market value, BC Assessment's professional appraisers analyze current sales in the area, as well as considering other characteristics such as size, age, quality, condition, view and location.
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