Property Values Remain Relatively Stable for 2015 in Nelson and area
Owners of more than 17,000 properties throughout the Nelson area can expect to receive their 2015 assessment notices in the next few days.
And when they open those envelopes, the assessment numbers will be pretty good said Deputy Assessor Dennis Hickson.
“Properties in the Nelson area have remained relatively stable in value compared to last year’s assessment roll,” said Hickson in a media release.
“A typical single family home in Nelson that was assessed at $354,000 in 2014 is valued at $352,000 for the 2015 Assessment Roll.”
“In the Village of Salmo, property owners will see changes ranging between -5% to +15%, while in the Village of Slocan property owners will see changes ranging between -5% and +5%.”
HIckson said the same applied in the Kootenay Lake area while Creston and Kaslo saw changes between plus or minus 10 percent.
“A typical single family home in Creston that was previously valued at $272,000 is valued at $268,000 for the 2015 Assessment Roll,” he said.
“While in Kaslo, a similar home saw a shift from $181,000 to $173,000 for 2015. Most home owners in the surrounding rural areas are seeing changes in the -10% to +10% range.”
Hickson said the assessment numbers have stabilized during the past few years. The last time there was any substantial jumps happened between 2000 and 2007.
“The last few years we haven’t seen a whole lot of change in the market place,” he said.
Overall, the City of Nelson’s assessment roll decreased marginally from $1.98 billion last year to $1.97 billion this year.
The Village of Salmo’s assessment roll increased from $112 million last year to $120 million this year.
The Village of Slocan’s assessment roll is little changed from $41.3 million last year to $40.9 million this year.
The assessment roll comprising Nelson’s rural area has remained stable at $2.8 billion. Of the communities noted above, almost $44.5 million was added through subdivisions, rezoning and new construction.
Meanwhile, the Town of Creston’s 2015 assessment roll decreased slightly from $706 million last year to $699 million this year.
The Village of Kaslo’s assessment roll decreased from $182 million last year to $175 million for 2015.
The assessment roll for the rural area surrounding Creston and Kaslo, and including the East Shore of Kootenay Lake, stayed steady at $2.1billion. Of the communities noted above, almost $23 million was added through subdivisions, rezoning and new construction.
In addition, owners of commercial and industrial properties in Nelson will see changes ranging from -10% to +10%.
“Property owners who feel that their property assessment does not reflect market value as of July 1, 2014 or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January,” said Hickson.
“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 February 2, for an independent review by a Property Assessment Review Panel,” added Hickson.
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.
The Nelson/Trail Assessment Office is located at Suite 176 – 333 Victoria Street in Nelson.
During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online by clicking “CONNECT” at www.bcassessment.ca.
Visit www.bcassessment.ca for more information about the 2015 Assessment Roll including lists of 2015’s top 100 most valuable (see top valued Kootenay properties) residential properties across the province.
Of note, BC Assessment has launched a newly-enhanced version of its free e-valueBC service that allows the general public to search, check and compare properties online from across the province. Improved navigation, an interactive map and inclusion of property street-front imagery are among the new features.
Also new for 2015, BC Assessment has updated its Customer Service Standards which include commitments to be open & transparent, fair & accurate, timely & accessible, knowledgeable & respectful, and innovative & collaborative.
“Our service commitments and standards clearly indicate the level of service that you can expect from BC Assessment and ensure we focus on customer needs as we continue to deliver excellent service,” said Hickson.