Property values drop slightly in Parksville Qualicum Beach

Assessments delivered - there are 25,000 property owners in Parksville Qualicum Beach

While property values are up slightly across the province on average, they are stable or down slightly on Vancouver Island, including the Parksville Qualicum Beach area.

As reported in the 2014 property assessment roll released by the B.C. Assessment Authority Jan. 2, the value of all B.C. property rose 1.27 per cent, despite declines in most regions for farm, recreational and managed forest land.

“Most homes in Oceanside are worth less in value compared to last year’s assessment roll,” said Bill Dawson, Vancouver Island regional acting assessor. “Most… will see modest changes in the minus 15 to plus five per cent range,” he said of the area’s 25,000 property owners.

The Parksville Qualicum Beach area’s overall 2014 assessment decreased 1.3 per cent ($119 million) from last year to $8.6 billion this year.

That was despite an increase of almost $103 million from subdivisions, rezoning and new construction, Dawson said.

In Parksville the average single family dwelling is up 0.6 per cent to $302,300 but strata units are down 12.8 per cent to $185,792.

In Qualicum Beach the average single family dwelling is down 1.3 per cent to $366,600 and strata units are down 4.3 per cent to $191,182.

In the rural areas single family dwellings under two acres are down one per cent to $374,600 on average and larger properties are down 5.3 per cent to $447,200.

Across the local region commercial property, with a total the taxable assessment of $474 million, have changed from minus 25 to five per cent with an average increase of 2.7 per cent.

Parksville director of finance Lucky Butterworth explained that a change in assessment doesn’t mean a change in individual property taxes since they work back from the assessment to raise the needed revenue.

A change in assessment only impacts a property if it is different from the average, meaning if your assessment changes the same as the average, the only change in your taxes would be those set by the municipal tax rates — for example Parksville’s five year financial plan calls for a three per cent increase each year, or about $70 a year for the average detached home.

The assessments also reveal the most valuable residential properties on the Island with one on Dorcas Point in Nanoose Bay ranking number two at $9.6 million. That only makes it the 236th most valuable property in the province.

Of the 20 most valuable residential properties on the Island outside greater Victoria, eight are waterfront properties in the Parksville Qualicum Beach area.

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2013 or see incorrect information on their notice should contact B.C. Assessment as indicated on their notice as soon as possible,” 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 Jan. 31, for an independent review by a property assessment review panel,” he added.

The local assessment office is at 300-125 Wallace Street, Nanaimo, open 8:30 a.m. to 5 p.m., Monday to Friday. Call 1-866-valueBC (825-8322) or check for more information.

— with files from Black Press

Just Posted

Pam Bottomley (executive director), right and Sandy Hurley (president) of the Parksville Downtown Business Association visit the PQB News/VI Free Daily studio. (Peter McCully photo)
PQBeat: Downtown Parksville gears up for post-pandemic bounce back

Podcast: Hurley, Bottomley chat about what’s ahead for the PDBA

(Black Press file photo)
RCMP: Air ambulance called to Whiskey Creek after crash involving 2 motorbikes

Both riders taken to hospital with serious injuries

(File photo)
Crime report: Crooks busy pilfering bikes throughout Parksville Qualicum Beach area

Thefts among 295 complaints Oceanside RCMP deal with in one-week period

The Arrowsmith Search and Rescue logo on the back of a service vehicle. (Mandy Moraes photo)
Parksville and Qualicum Beach provide letters of support for Arrowsmith Search and Rescue

ASAR asks for increase in funding, one-time capital grant and for RDN to buy out current facility

The proposed running track upgrade at Ballenas Secondary is now on course. (PQB News file photo)
RDN: Parksville track upgrade project gains some traction

Staff recommends board approve $204,000 funding

Canadian Prime Minister Justin Trudeau participates in a plenary session at the G7 Summit in Carbis Bay, England on Friday June 11, 2021. THE CANADIAN PRESS/Adrian Wyld
Canada donating 13M surplus COVID-19 vaccine doses to poor countries

Trudeau says the government will pay for 87 million shots to be distributed to poor countries

Montreal Canadiens goaltender Carey Price (31) is scored on by Vegas Golden Knights defenseman Alec Martinez, not pictured, during the second period in Game 1 of an NHL hockey Stanley Cup semifinal playoff series Monday, June 14, 2021, in Las Vegas. (AP Photo/John Locher)
Habs fall 4-1 to Vegas Golden Knights in Game 1 of NHL semifinal series

Match was Montreal’s first game outside of Canada in 2021

Kelowna-Lake Country MLA Norm Letnick, assistant deputy speaker at the B.C. legislature, presides over committee discussions. The legislature is completing its delayed spring session this week, with most MLAs participating by video conference. (Hansard TV)
B.C.’s daily COVID-19 infections dip below 100 over weekend

Only 68 new cases recorded Monday, four additional deaths

Gabriola Island artist Sheila Norgate is promoting the Digital Innovation Group’s art impact survey. (File photo)
Vancouver Island artists get behind regional arts impact study

Artists urged to use their stature to help put arts and culture super-region on the map

The BC Ferries website went down for a short while Monday morning following a provincial announcement that recreational travel between health authorities can resume Tuesday. (Black Press Media file photo)
BC Ferries’ website crashes in wake of provincial reopening announcement

Website back up now, recreational travel between health regions to resume as of Tuesday

Neighbours fight a small late-night bush fire with garden hoses and shovels in Cinnabar Valley on June 5. They couldn’t get help from local fire services because the fire was located in an area under B.C. Wildfire Services jurisdiction. (Photo courtesy Muriel Wells)
Neighbours on edge of Nanaimo city limits left to put out bush fire themselves

Cinnabar Valley residents tackle fire with hoses and buckets for two and a half hours

Darren Campbell’s truck (pictured) was stolen when he stopped to check on a car in a ditch on Cowichan Bay Road on Monday morning. (Facebook photo)
Vancouver Island Good Samaritan’s truck stolen in nasty trick

‘Try to be a Good Samaritan and my $20,000 truck gets stolen right under my nose’

The Kamloops Indian Residential School is photographed using a drone in Kamloops, B.C., Monday, June, 14, 2021. The remains of 215 children were discovered buried near the former school earlier this month. THE CANADIAN PRESS/Jonathan Hayward
Communities grapple with what to do with former residential and day schools

Some tear them down as a tool to help healing, others repurpose them as tools for moving forward

Creative handmade signs abound at the June 13 Tofino rally for old growth trees. (Nora O’Malley photo)
VIDEO: Tofino stands in solidarity for Fairy Creek Blockades

Over 150 supporters attend rally hosted by Friends of Clayoquot Sound

Most Read