December 28, 2016
BC Assessment Appeals for 2017
Tax Assessment Appeals in BC
Okay home owners, especially those in the lower mainland, it's time to get ready to open your assessments for 2017. Since the market was so strong when values were established, as of July 1st, 2016 - prior to the 15% tax announcement - and the market has apparently slowed some since then....you may have a case for an appeal.
If you are a senior, or have a parent with a home in the lower mainland, this is important as many properties will have been assessed HIGHER than the allowed value to even get the Partial Homeowner grant For Seniors this year $1,369,000 -- which in my opinion is brutal.
My Mom's house was worth $38K when my Dad built it in 1970, then $500K in 2006, the neighbours just sold for $1.5M this summer so we can expect her assessment to come in the same as she's in the newest teardown neighbourhood.
Bungalows no longer exist to move older folks into, it's near impossible to laterally move a senior out of their house and into a property without stairs that still provides freedom and quality of life, and isn't some kind of care facility.
So maybe in the meantime, while we're waiting for developers to notice this generation of aging locals (that made Vancouver the awesome place it is) and start building to house them, our Provincial gov will takes some steps to insure the increased values don't force seniors to sell.
Or wait, is that the plan to increase the single family detached inventory?? I'm looking at you BC LIberal Party.
How about creating some incentives for developers to create suitable housing for this generation? Along with once again increasing the threshold for quailfying for the Seniors Grant? These are fixed income folks that don't have the luxury of youth to up and move to other more inexpensive communities away from their support networks.
CLICK HERE for the appeal process.
CLICK HERE for e-valueBC, to see how your assessment compares to your neighbours.
CLICK HERE for info on Home Owner Grants
If you have any questions about current values, you can always call your favourite REALTOR® and ask what the recent sale prices in your neighbourhood were, they should be able to do a quick search and email you the listing sheets with the sales data on them.
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