Home values are up, will property taxes follow?

Over 20% increase in property values for Agassiz Harrison

Increased property values revealed in BC Assessment’s 2018 property assessments have left some locals with questions about how property tax bills will change when they arrive in the spring.

In the District of Kent, residential property values increased by an average of 21.46 per cent, and 22. 14 per cent in Harrison.

That number, along with the municpality’s projected tax revenue, is integral to determing property tax numbers. How a property tax changes each year depends on how the valuation changes compared to the average of the municipality.

Murray Brown’s Agassiz townhouse increased 18 per cent in value, but he thinks that number could be higher in the current market.

“We think the new value is even low, compared to what the market is showing,” he says. “We’re glad to see the increase because it means if we were to sell [and] make a move, we would have more money to go elsewhere with.”

Both the District of Kent and Harrison won’t have budgets out until spring. Public processes determine the numbers for projected tax revenue, the number needed to determine if a home’s property taxes will rise or fall.

Only those with a value increase higher than the average for their munipality will see an increase in their property tax bill, unless municipality’s projected tax revenue increases significantly from last year.

The 2018 property assessments were released this week but reflect the value assessed as of July 1, 2017.

Residents who disagree with their assessment are encouraged to contact BC Assessment and if they remain dissatisfied with the result, they can file an appeal by Jan. 31 for an independent review.

With files from Kelvin Gawley.

Just Posted

Harrison to apply for grant to upgrade treatment plant road

Councillor Ray Hooper had concerns about the number of trees being taken out

Westbound Highway 1 crash in Langley

Collision occurred just past 264th Street, left lane is blocked

Harrison councillors get increase on expense limit

Councillors Michie Vidal and Ray Hooper would have been over their annual amounts already

Conservative Brad Vis wins in Mission-Matsqui-Fraser Canyon

Vis wins in second bid for seat in House of Commons

UPDATE: Overnight shooting in downtown Chilliwack leaves one male on life support

The victim, who is not expected to survive, is known to police and was likely targeted, IHIT says

VIDEO: Tour the Harrison Ranger Station’s latest exhibit

Sylvie Roussel-Janssens took the Observer on a tour through her work in the gallery

Former Kelowna Hells Angels associate could be deported, court rules

David Revell has lost his fight against deportation from Canada

Witness of Abbotsford shooting recounts terrifying experience

He describes being caught between the gunmen and their intended target

Alcohol available onboard BC Ferries starting Thursday

Beer and wine sales begin at 11 a.m. on select Tsawwassen-Swartz Bay sailings

Olympian Brent Hayden returning to competition after seven years away

The 36-year-old has been training in Vancouver for several weeks

‘Find Trevor’: B.C. man’s dog leads searchers to rescue him after fall during hike

‘I’ve had lots of intelligent dogs, but Purple is in a class herself’

15 Canadian youths to sue Ottawa for not acting on climate change

They say young people will be more affected than other groups

VIDEO: Man in his 20s in hospital following shooting in Abbotsford

Incident takes place Tuesday night in 31700 block of South Fraser Way

Faster response may have prevented fatal outcome at B.C. trampoline park

Coroner’s report rules Greater Victoria father Jay Greenwood’s death accidental

Most Read