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Nelson property values take slight dip

The Nelson BC Assessment office has its annual survey of area properties in the mail. - Kirsten Hildebrand photo
The Nelson BC Assessment office has its annual survey of area properties in the mail.
— image credit: Kirsten Hildebrand photo

More than 17,000 property owners in the Nelson area can expect to receive their 2013 assessment notices in the next few days.

“Most homes in the Nelson area have decreased modestly from last year’s assessment roll,” said Dennis Hickson, deputy assessor at the BC Assessment office.

“For example, a typical single family home in Nelson that was assessed at $364,000 in 2012 is valued at $351,000 for the 2013 assessment roll. In the Village of Salmo, property owners will see a decrease in the -5 per cent to -10 per cent range, while in the Village of Slocan property owners will see a more marked decrease in the -5 per cent to -15 per cent range.”

Overall, the City of Nelson’s 2013 assessment roll decreased slightly from $2.0 billion last year to $1.95 billion this year.

The Village of Salmo’s assessment roll decreased from $114 million last year to $109 million this year. The Village of Slocan’s assessment roll decreased from $43.5 million last year to $41.4 million this year. The assessment roll comprising Nelson’s rural area remained stable at $2.8 billion.

Of the communities noted above, almost $36.9 million of the assessed value is attributable to subdivisions, rezoning and new construction.

In addition, owners of commercial and industrial properties in Nelson will see changes ranging from -5 per cent to +10 per cent.

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2012 or see incorrect information on their notice should contact our office 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 January 31, 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 meet between February 1 and March 15 to hear formal complaints.

The Nelson/Trail Assessment office is located at 502 Victoria Street in Nelson. During the month of January, office hours are 8:30 a.m. to 5 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or via bcasessment.ca.

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