Property assessments in the mail, showing slight decline in Golden

Just under 5,000 property owners in the Golden and surrounding area will receive their 2013 assessment notices in the next few days.

Just under 5,000 property owners in the Town of Golden and surrounding area can expect to receive their 2013 assessment notices in the next few days.

“Many homes in the Golden area are declining slightly in value compared to last year’s assessment roll,” said Bradley Lane, Kootenay Region Area Assessor. “Most home owners in Golden will see only modest changes depending on location.

Overall, the Town of Golden’s assessment roll decreased from $638 million las year, to $621 million this year. The value reflects a slight decline in most areas due to market movement as well as approximately $2.04 million in growth due to subdivisions, rezoning and new construction.

Assessments are considered a snapshot of the property value as of July 1, 2012, which predates some of the recent decline in real estate markets.

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2012, or see incorrect information on their notice should contact our office immediately, as indicated on their notice, as soon as possible in January,” said Lane.

Despite the decreases, which are seen in most regions of the province, Finance Minister Mike de Jong announced on Wednesday Jan. 2 that B.C. homeowners’ grant is increasing by $10,000 to $1.295 million.

The northern and rural benefit adds an extra $200 for homeowners outside the lower mainland and Vancouver Island, an amount added to compensate rural people for extra costs of the carbon tax on fossil fuels.

Property owners can check their assessments online at bcassessment.ca (click on e-ValueBC) and compare with their neighbourhood to decide if they wish to file an appeal by Jan. 31.

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and meet between Feb. 1 and Mar. 15 to hear formal complaints.

Although property values have seen slight drops in most regions, the assessed value of total real estate in B.C. rose 2.3 per cent from a year ago, with most cities seeing gains around 1.5 per cent from new construction.