B.C. property assessment values expected to rise up to 15%
B.C. property assessment values expected to rise up to 15%
Victoria, B.C., is pictured. (CTV News)
Most homeowners will see their property assessment values increase next year when BC Assessment's latest figures are released in January.
The corporation expects assessment values to increase by an average of five to 15 per cent compared to last year.
The assessments are based on values determined on July 1 of this year, and are compared to the same time period from the year before.
"Since July 1, we know that the real estate market has changed as interest rates continue to rise and overall sales volume has declined," said Bryan Murao, assessor with BC Assessment, in a release Monday.
"As a result, your next property assessment will likely be higher than what the current market value might be, but that will be the same for everyone," he said.
BC Assessment notes that if your property assessment value increases, that may not necessarily mean your property taxes will rise as well.
"Taxes are typically only affected if you are above the average value change for your community," said Murao.
"Our job is to make sure your assessment is a fair and accurate reflection of market value sales based on July 1," he said.
BC Assessment says its estimate that properties will increase in value by an average of five to 15 per cent is preliminary.
Confirmed property assessment information will be released on Jan. 3, 2023.
British Columbians will be able to search and compare 2023 property assessments through the BC Assessment website starting on Jan. 3.
The Biden administration is considering a plan to shoot down a large Chinese balloon suspected of conducting surveillance on the U.S. military, by bringing it down once it is above the Atlantic Ocean where the remnants could potentially be recovered, according to four U.S. officials.
The Arctic air that descended on the Northeast on Saturday brought dangerously cold sub-zero temperatures and wind chills to the region, including a record-setting wind chill of minus 108 degrees Fahrenheit (minus 78 C) on the summit of Mount Washington in New Hampshire.
Convicted murderer Daniel Jolivet, in prison for the past 30 years, has maintained his innocence since the day he was arrested. W5 reviews the evidence he painstakingly assembled while behind bars. W5's documentary 'Buried Evidence' airs Saturday at 7 p.m. on CTV.
The massive white orb drifting across U.S. airspace has triggered a diplomatic maelstrom and is blowing up on social media. A look at what's known about the balloon crossing the U.S. and what isn't.
The oldest preserved vertebrate brain has been found in a 319-million-year-old fossilized fish skull that was removed from an English coal mine over a century ago.
A man who took part in four traffic-stopping protests in Metro Vancouver in an effort to save old-growth forests has been given a conditional sentence and six months' probation by a provincial court judge.
Vancouver Canucks faithful have seen it all during yet another disappointing season - and several say they're frustrated not only with the on-ice performance, but with a lack of answers from the team's front office.
A spokesperson for the Law Society of Ontario (LSO) says Metrolinx began cutting down historic trees at Osgoode Hall in Toronto on Saturday before the Ontario Superior Court could hear an injunction to prevent their clearing.
Joey Votto has been coming to the Annex Chess Club (ACC), just north of Bathurst and Bloor streets, every week for a few months now, according to Supol.
Alberta's high court is being asked to overturn a review board decision relating to the stabbing deaths of five young people at a Calgary house party on the grounds the former provincial justice minister interfered.
The Lethbridge Hurricanes kept Connor Bedard off the scoresheet for the first time in 36 games, but it wasn't enough, as the 'Canes lost 3-2 to the Regina Pats Friday night.
Residents from Quebec to Newfoundland and Labrador are waking up this morning to more extreme cold weather. Emergency officials warned people to seek shelter and monitor for frostbite if they had to be outside overnight, as the temperature across much of Eastern Canada was expected to feel like -40 C to -50 C with the wind chill.
Another property reportedly belonging to a family member of Tony Accurso was the target of an arson attack in Laval early Saturday morning. The Laval fire department responded to a call at 3:22 a.m. about a fire at the building located at 1410 Jaffa Street in the Saint Rose district in the northern part of Laval.
The first North Atlantic right whale to be entangled in connection to Canada’s lobster fishery in over five years has been successfully rescued by marine mammal rescue responders in the United States.
WINNIPEG -- An Indigenous organization is spearheading efforts to develop a system that could make it easier to flag when a person experiencing homelessness is missing.
Winnipeg police released a new image of a 31-year-old woman who has been missing since early last year on Friday in the hope it may generate new information on her whereabouts.
Saskatchewan is reacting to the removal of controversial amendment G4 to Bill C-21 by the federal Liberals, which banned certain semi-automatic rifles and shotguns.
Parents of students with special needs are speaking out about a decision by the Simcoe County District School Board to change transportation options starting Monday.
An investigation that lasted almost two years has resulted in moose hunting violation convictions for six people and a lodge in Red Lake in northwestern Ontario.
Convicted murderer Daniel Jolivet, in prison for the past 30 years, has maintained his innocence since the day he was arrested. W5 reviews the evidence he painstakingly assembled while behind bars. W5's documentary 'Buried Evidence' airs Saturday at 7 p.m. on CTV.
The owner of Radical Gardens, a restaurant in Timmins said she's experienced nineteen robberies over the last eight years; with the most recent one taking place in the early morning hours Friday.
Victoria, B.C., is pictured. (CTV News)
