BC Assessment has released their 2018 assessment notices and District of Sechelt property owners can expect to receive their notices in the mail this week. BC Assessment is responsible for all property assessments in British Columbia.
Residents can learn more about the changes by checking out BC Assessment's interactive website.
You can also search property information on the E-value BC website: https://evaluebc.bcassessment.ca/
In the District of Sechelt, BC Assessment has reported that a typical residential home has risen close to 17.44% in assessed value. They also note that the business class assessed values have increased by 9.34% on average.
Increases in property assessments do not mean the District of Sechelt will collect more property tax revenue. Changes in the property assessment determine how property taxes are levied to each property owner. Only properties that go up by more than the average assessment increase will see their tax bill increase because of the assessment change. Conversely, if the assessment increase is less than the average the property owner will see a reduction in their tax bill.
The total municipal property tax increase is determined by Council as part of the budget deliberation process. The District’s 2018-2022 Draft Financial Plan was provided to Council in December 2017 and is now available on the District’s website. The next date for discussion of the 2018 – 2022 Draft Financial Plan will be Wednesday January 17 at the Finance, Culture and Economic Development Committee meeting to be held at 1:00 pm in the Community Meeting Room (5797 Cowrie St.). Additional opportunities for public input will be discussed at this meeting as well. In early May, Council will adopt the Financial Plan and Tax Rates Bylaws. Property tax notices will be mailed by the end of May 2018.
Property owners with questions about their assessment notice should refer to BC Assessment’s website at www.bcassessment.ca or contact BC Assessment directly, as indicated on their notice as soon as possible.