The assessed value of residential properties in Nelson has gone up an average of 5.7 per cent in 2015. Rises in each of the previous three years were less than two per cent.
“This year’s increase is fairly typical for our region, not outside the norm,” said Ramaish Shah, deputy assessor for BC Assessment. “A change of from minus five to plus five percent is a stable change.”
He said most most homeowners in the Kootenay Columbia region will see modest increases depending on the location.
“For example, a typical single family home in Nelson previously assessed at $315,000 was valued at $333,000 in the summer of 2015,” he said.
Increases in neighouring communities this year include Castlegar at 3.9 per cent, Slocan 2.7 per cent, Silverton 9.4 per cent, New Denver 5.4 per cent, and Creston 3.6 per cent. Kaslo is unchanged and there were a number of decreases: Salmo minus 2.8 per cent, Nakusp minus four per cent, and Trail minus 6.6 per cent.
According to BC Assessment, Nelson is the highest valued community in the West Kootenay. However, the top 30 highest-valued properties in the Kootenays are all in and around Invermere, Fernie, and Golden, topped by a $5.25 million home in Invermere.
The most expensive West Kootenay property is an acreage at 1659 Highway 3A at Four Mile, assessed at $2.4 million. The only other local properties to crack the top 100 were acreages at 15660 Fish Hawk Bay Rd. in Riondel and 10231 Twin Bays Rd., each valued at $1.9 million. Twin Bays on the East Shore of Kootenay Lake.
BC Assessment is a Crown corporation that classifies and values all property in BC. Each January the corporation sends a notice to property owners telling them the fair market value of their property as of July 1 of the previous year. Municipal governments then use those numbers when applying their tax rates.
Shah said people unsatisfied with their assessments should call the number listed on their notice, and if after a discussion with staff they are not satisfied, they can file a notice of complaint by the deadline of Feb. 1. He said each year less than one per cent of residential owners file such notices.
You can also view a newly-enhanced website at bcassessment.ca for more details about property assessments, property information, and most valuable residential properties.
This story was edited at 9:30 a.m. on January 5 to correct an error. The change in Trail’s assessment was initially listed as increase, when in fact it was a decrease.