House prices stable in Comox Valley

Property owners in the Comox Valley can soon expect to receive their 2015 assessment notices.

Owners of more than 34,000 properties throughout the Comox Valley can expect to receive their 2015 assessment notices in the next few days.

“Most homes in the Comox Valley are remaining stable in value compared to last year’s assessment roll,” said Vancouver Island regional deputy assessor Bill Dawson. “Most homeowners will see modest changes in the minus-five per cent to 10 per cent range.”

Overall, the Comox Valley Assessment Roll increased from $9,622,255,797 last year to $9,721,134,245 this year. Of note, a total of almost $89,000,000 was added through subdivisions, rezoning and new construction.

A single family dwelling in Courtenay is presently valued at $318,800, compared to $314,300 in last year’s assessment. A home in Comox is valued at $323,900 ($319,000 last year) and Cumberland at $274,000 ($256,200 last year).

In general, commercial property assessments have changed within the minus-10 to five per cent range in the Valley. The taxable commercial assessment roll is $959,252,803 this year. A total of more than $1.7 million in new commercial value has been added due to various changes including subdivision, rezoning and new construction.

“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 Dawson. “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.”

Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between Feb. 1 and March 15 to hear formal complaints.

The Courtenay assessment office is located at 2488 Idiens Way. During 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 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 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 Dawson.

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