Property assessments are announced on an annual basis with 2022 assessments based on market values at July 1, 2021. The average increase in property values for a homeowner’s class of property is shown on their assessment notice.
The City of Parksville encourages property owners to visit BC Assessment Authority and search their property, compare assessments and review recent sales of nearby properties to see if their assessment is reasonable.
The deadline to appeal 2022 assessments (through BC Assessment) is Jan. 31, 2022.
Should a homeowner have questions about their assessment, they can contact BC Assessment at 1-866-825-8322 from Monday to Friday, 8:30 a.m. to 5 p.m. It is important to understand changes in property assessments do not automatically translate into a similar change in property taxes.
If an assessment percentage increase is the same as the average residential increase for the City of Parksville, then the city’s portion of the property taxes will likely rise by only the amount of the tax increase set by council following budget deliberation meetings in the spring.
For the City of Parksville, the 2021 typical assessed value (on July 1, 2020) of a single-family residential property was $505,000. The 2022 typical assessed value (on July 1, 2021) is $677,000, an increase of 34 per cent.
The province of B.C. homeowner grant for 2022 for northern or rural areas (outside Metro Vancouver, Fraser Valley
and Capital Regional districts) is as follows:
• Up to $770 for the basic homeowner grant.
• Up to $1,045 where the homeowner is 65 years or older, or the homeowner is a person with a disability.
In May, after receiving their municipal property tax notice, residents should apply online for the homeowner grant on the BC government website. Homeowners with more complex situations can get help by phone at 1-800-663-7867, or from a ServiceBC centre. Assessment roll and jurisdiction numbers are needed to apply.
Homeowners may also be eligible for property tax deferment if they are at least 55 years old, or are financially supporting a dependent child.
– NEWS Staff, submitted