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.
MPs on the Procedure and House Affairs Committee are recommending that hybrid Parliament and the electronic voting system become permanent features of the House of Commons.
A report commissioned by a non-profit organization founded by the late Jean Vanier says the Canadian sexually abused 25 women during his decades with the group.
A six-year-old girl died in hospital Sunday night after being involved in an incident at the Val-Saint-Côme ski resort in Lanaudiere. Quebec police are investigating, though details into the event are not yet known. Officers indicated that it involved a T-bar lift, but they were not able to say more.
The coronavirus remains a global health emergency, the World Health Organization chief said Monday, after a key advisory panel found the pandemic may be nearing an 'inflection point' where higher levels of immunity can lower virus-related deaths.
New guidance for drinking alcohol could speed up changing consumer drinking habits as younger generations drink less and non-alcoholic beverages become more popular, advocates and business owners in the beverage industry say.
Members of Parliament return to Ottawa to resume sitting for the first time in 2023 on Monday, with the state of Canada's health-care system, the health of the Canadian economy, and rates of violent crime in this country all top of mind.
Quebec's minister responsible for secularism, Jean-Francois Roberge, has called on Canada’s new special anti-Islamophobia advisor Amira Elghawaby to apologize and step down.
British Columbia is taking a major step forward in its fight against the province’s deadly overdose crisis by decriminalizing the possession of a small amount of certain illicit drugs for personal use.
A Vancouver police sergeant who says he was Const. Nicole Chan's friend and mentor has told a coroner's inquest that Chan believed she would never return to work because human resource officers went to the hospital when she was apprehended under the Mental Health Act.
The Mindbender roller coaster at Galaxyland has been shut down, West Edmonton Mall announced on Monday. The redevelopment of the area is already underway, and the roller coaster is being decommissioned and removed.
A 20-year-old man has been arrested and charged after police say he caused more than $5,000 worth of damage to an Edmonton Transit Bus and threatened a female passenger, acts that drew condemnation from Alberta's premier.
The Farmers' Almanac just revealed its spring 2023 forecast and Ontario, along with much of the rest of Canada, is expected to see a “turbulent transition to warmth,” the agency predicts.
A Toronto passenger said her Sunwing Airlines flight was unforgettable as she recounted the moments after the pilot shut down the plane’s engine mid-flight to Montego Bay on Friday.
The University of Lethbridge, following a great deal of push back from students and members of the public, says it will not provide space for a planned lecture from a controversial guest speaker.
A six-year-old girl died in hospital Sunday night after being involved in an incident at the Val-Saint-Côme ski resort in Lanaudiere. Quebec police are investigating, though details into the event are not yet known. Officers indicated that it involved a T-bar lift, but they were not able to say more.
Quebec's minister responsible for secularism, Jean-Francois Roberge, has called on Canada’s new special anti-Islamophobia advisor Amira Elghawaby to apologize and step down.
A report commissioned by a non-profit organization founded by the late Jean Vanier says the Canadian sexually abused 25 women during his decades with the group.
The grisly aftermath of an alleged fatal shooting was described today during the murder trial of a former medical student accused of killing a fellow student in Halifax seven years ago.
Police are investigating the sudden deaths of two people in Saint John, N.B. The Saint John Police Force responded to a medical assistance call at a home on Red Head Road shortly after 8 a.m. Monday.
Bobby Hull once proudly said that he played the way he lived -- straightforward. The Hockey Hall of Famer, who electrified fans through the 1960s and 70s, died on Monday at the age of 84. Hull played for the NHL's Chicago Blackhawks before a jump to the Winnipeg Jets of the upstart World Hockey Association in 1972, a move that led to lawsuits but ultimately higher salaries for hockey players.
Manitoba Premier Heather Stefanson promoted four backbenchers from suburban Winnipeg areas to her inner circle Monday in a cabinet shuffle eight months out from an election.
The Brantford Police Service (BPS) is investigating "significant vandalism" to the TH&B Bridge in Brantford, including homophobic vandalism targeting the LGBTQ2S+ community.
The Maidstone RCMP are looking for a suspect following the alleged sexual assault of a 10-year-old girl in the dressing room at the Lashburn Sportsplex on Sunday afternoon.
Grey Bruce Ontario Provincial Police (OPP) inspected 13 commercial motor vehicles resulting in four commercial motor vehicles taken out of service due to major defects.
A man accused of murder said he has been behind bars at the Saskatoon Correctional Centre for the last 1,310 days and is only allowed out three hours each day.
Two people discovered asleep in a vehicle in Sault Ste. Marie on Jan. 30 were found with weapons and more than $175,000 in illegal drugs, Sault police said Monday.
Actor Annie Wersching, best known for playing FBI agent Renee Walker in the series '24' and providing the voice for Tess in the video game 'The Last of Us' has died. She was 45.
Victoria, B.C., is pictured. (CTV News)
