This infographic shows the percentage increase in single family residential property values in the Parksville Qualicum Beach region from 2016 to 2018. — Infogram by Lauren Collins

This infographic shows the percentage increase in single family residential property values in the Parksville Qualicum Beach region from 2016 to 2018. — Infogram by Lauren Collins

Property values increase more than 20 per cent in Parksville Qualicum Beach

The 2018 assessment is based on market value as of July 1, 2017

The assessed value of many residential homes in parts of the Parksville Qualicum Beach region has jumped more than 20 per cent in the last year, according to BC Assessment.

In the next few days, owners of more than 369,000 properties throughout Vancouver Island can expect to receive their 2018 assessment notices which reflect the market value as of July 1, 2017.

RELATED: BC Assessment values now available online

According to examples used by BC Assessment, a home in Parksville is assessed at $440,000 in 2018 compared to $361,000 in 2017 which is a jump of 22 per cent.

In Qualicum Beach, a property now assessed at $546,000 also went up 22 per cent from $449,000 in 2017. The rural areas saw a jump of 19 per cent in 2018 from 2017. An example property is now assessed at $524,000 in 2018, up from $440,000 in 2017.

Assessor Tina Ireland said in a BC Assessment release that the market has remained strong across the Island and across property types. The Island region includes all communities within Greater Victoria, the south Island, central Island, north Island, the west coast, northern and southern Gulf Islands and Powell River.

BC Assessments collects, monitors and analyzes property data throughout the year.

In urban areas on Vancouver Island, residential single detached homes went up 10 to 25 per cent in value, residential strata units went up 15 to 35 per cent, commercial properties went up zero to 20 per cent and light-industrial properties went up zero to 20 per cent. In rural areas, residential single detached homes went up five to 25 per cent in value, residential strata units went up zero to 30 per cent, commercial properties went up zero to 20 per cent and light-industrial properties went up zero to 20 per cent.

According to BC Assessment, Vancouver Island’s total assessments increased to $223.1 billion this year from $192.7 billion in 2017. Almost $3.2 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

BC Assessment’s website (www.bcassessment.ca) includes more details about 2018 assessements, property information and trends such as lists of 2018’s top-value residential properties across the province.

“Property owners can find a lot of information on our website including answers to many assessment-related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2017 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” Ireland said.

“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.”

The property assessment review panels, which are independent of BC Assessment, are appointed annually by the Ministry of Municipal Affirs and Housing and typically meet between Feb. 1 and March 15 to hear formal complaints.

According to BC Assessment, 98 per cent of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.

Step by Step Charts
Infogram

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The property at 113 and 161 Island Highway is currently being dismantled as the developer attempts to salvage ‘usable’ lumber for their development application to the City of Parksville. (Mandy Moraes photo)
Development application delayed for high-profile Parksville property

Council refers application to staff for further improvements

(File photo)
RCMP warn of counterfeit bill use in Parksville Qualicum Beach area

Police have received four calls in December regarding bogus bills

The Town of Qualicum Beach will continue to have confidential in-camera meetings in person and at the council chambers. (Mandy Moraes photo)
COVID-19: Qualicum Beach confidential meetings to remain in person at council chambers

Coun. Robert Filmer calls decision an ‘unneeded risk’

Josie Osborne was sworn into the Legislature virtually on Nov. 24. (FACEBOOK PHOTO)
Mid Island-Pacific Rim MLA Josie Osborne named minister of municipal affairs

The position was previously held by Selina Robinson, who is the province’s new finance minister

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. sets another COVID-19 record with 887 new cases

Another 13 deaths, ties the highest three days ago

Police in Nanaimo are looking for a suspect who wore a black-and-white striped hoodie and rode a yellow mountain bike when he allegedly stole three children’s backpacks from a daycare facility. (Photo submitted)
VIDEO: Thief steals children’s backpacks from daycare in Nanaimo

Suspect rode a yellow mountain bike and made off with backpacks hanging on fence

Arthur Topham has been sentenced to one month of house arrest and three years of probation after breaching the terms of his probation. Topham was convicted of promoting hate against Jewish people in 2015. (Photo submitted)
Quesnel man convicted for anti-Semitic website sentenced to house arrest for probation breach

Arthur Topham was convicted of breaching probation following his 2017 sentence for promoting hatred

Langley School District's board office. (Langley Advance Times files)
‘Sick Out’ aims to pressure B.C. schools over masks, class sizes

Parents from Langley and Surrey are worried about COVID safety in classrooms

The Klahoose First Nation village on Cortes Island is under lockdown until further notice due to a positive COVID-19 test. Photo courtesy Kevin Peacey.
Cortes Island First Nation community locked down due to positive COVID-19 test

Klahoose First Nation has had one positive test, one other potential case

Ladysmith’s 1st Avenue will be lit up until January 15. (Cole Schisler photo)
Light Up parade a no-go, but Ladysmith’s streets are still all aglow

Although the tradition Light Up this year was cancelled, folks can still enjoy the holiday lights

The baby boy born to Gillian and Dave McIntosh of Abbotsford was released from hospital on Wednesday (Nov. 25) while Gillian continues to fight for her life after being diagnosed with COVID-19.
B.C. mom with COVID-19 still fighting for life while newborn baby now at home

Son was delivered Nov. 10 while Gillian McIntosh was in an induced coma

Gracie couldn’t stop nursing from her previous owner’s goats which was problematic given the goats were trying to be dried out to breed. Gracie now lives at A Home for Hooves. (Sarah Simpson/Citizen)
Cowichan animal sanctuary gets international accreditation

A Home for Hooves farm sanctuary accredited by the Global Federation of Animal Sanctuaries

North Island-Powell River MP Rachel Blaney has spoken out about some veterans losing their Dimished Earning Capacity income. (Mike Davies/Campbell River Mirror photo)
Blaney pens letter to minister about veteran supports

Concerned about veterans losing some income

Most Read