Nelson home owners should find little change in their 2014 BC assessments. Housing values have been stable in the past year.

Nelson property values considered stable

Homeowners will receive their BC Assessments in the mail in the next few days, but don't expect any major changes.

More than 17,000 properties throughout the Nelson area can expect to receive their 2014 assessment notices in the next few days.

“Most homes in the Nelson area have remained stable relative to last year’s assessment roll,” said Dennis Hickson, deputy assessor for BC Assessment.

He said a typical single family home in Nelson that was assessed at $351,000 in 2013 is valued at $354,000 for the 2014 assessment roll.

In the Village of Salmo, property owners will see changes ranging between zero per cent and an increase of up to five per cent, while in the Village of Slocan, property owners will see changes ranging between negative five per cent to positive five per cent.

Overall, the City of Nelson’s assessment roll increased slightly from $1.95 billion last year to $1.98 billion this year. The Village of Salmo’s assessment roll increased from $109 million last year to $112 million this year. The Village of Slocan’s assessment roll is unchanged at $41.3 million this year.

The assessment roll comprising Nelson’s rural area also remained stable at $2.8 billion. Of the communities noted above, almost $43.7 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 generally from negative 10 per cent to positive 10 per cent, although some properties may see more substantial changes resulting from a 2013 assessment review.

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2013 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 staff, 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 1-866-825-8322) or online at www.bcassessment.ca.

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