Peninsula property values hold up

Assessment notices will begin showing up at Greater Victoria homes this month.

Analysis released this month by B.C. Assessment shows the average assessed property value in Sidney increased, while values in Central and North Saanich remained the same over the past year, but the Crown corporation says the changes are ‘nothing substantive.’

Assessment notices will begin showing up at Greater Victoria homes this week. Most homeowners will see moderate range with decreases in value from about minus two per cent to increases of up to three per cent in some areas.

“The only trend, and there’s not much of one, is a wee dip in some parts of the Western communities of one to two per cent, and a modest increase of one to two per cent in Victoria, Oak Bay, Saanich and Central Saanich,” said Reuben Danakody, assessor for BC Assessment Capital Region.

In Sidney, the average assessment increased slightly from $427,000 last year to $432,000 this year. In the School District 63 (Saanich) assessment area, property values decreased on average from $683,000 to $679,000 over the same period.

Central Saanich assessments held the line at $502,000, as did North    Saanich homes, valued at an average of $681,000.

Always titillating is the release of the 100 most highly-valued properties, led by the all-private James Bay Island ($51.6 million) and Samuel Island ($16.9 million). In fact, most of the top 20 properties are either private islands or on Oak Bay waterfront. About 98 per cent of the owners for the province’s 1,974,120 properties (2015) are expected to accept their property assessment without requesting an independent review, which they may do by Feb. 2.

The most dramatic swings in value tend to be from a correction in information, Danakody said. In that case, owners are notified ahead of time to avoid surprise.

B.C. Assessment sent letters to about 1,300 Greater Victoria owners in September to warn them they were facing a 15 per cent increase or decrease. See bcassessment.ca to view individual properties and for a list of the top 100 most highly valued properties in each B.C. region.

Just Posted

Feds kickstart Indigenous Guardians program with $5.7M in early funding

Part of $25M announcement from March to commit financial help for First Nations to remain stewards of their land

NDP leader Jagmeet Singh visits with Langford high school students

Students asked him questions about current political issues

New report finds B.C. victims of opioids crisis on lower of end of socio-economic spectrum

UVic scholar calls for decriminalization of drugs responsible for opioid crisis

Victoria Curling Club, arena parking lot considered for new Crystal Pool location

Considering other vendors could cost Victoria first year of provincial and federal funding

City of Victoria to see 588 affordable housing units

Provincial funding is aiming to see 4,900 new mixed-income rental properties across B.C.

VIDEO: Amazon to split second HQ between New York, Virginia

Official decision expected later Tuesday to end competition between North American cities to win bid and its promise of 50,000 jobs

Student arrested at Vancouver Island elementary school

Pupils never in danger, incident unrelated to the school

POLL: Have BC Ferry wiats ever forced you to cancel your travel plans?

Many BC Ferry passengers heading out from Swartz Bay to Tsawwassen on… Continue reading

Stink at B.C. school prompts complaints of headaches, nausea

Smell at Abbotsford school comes from unauthorized composting operation

Fear of constitutional crisis escalates in U.S.; Canadians can relate

Some say President Donald Trump is leading the U.S. towards a crisis

Racist slur cleaned off memorial at Qualicum First Nation graveyard

Site was hit by vandals on Friday; many immediately offered support and assistance

B.C.-based pot producer Tilray reports revenue surge, net loss

Company remains excited about ‘robust’ cannabis industry

Canada stands pat on Saudi arms sales, even after hearing Khashoggi tape

Khashoggi’s death at Saudi Arabia’s consulate in Istanbul further strained Riyadh’s already difficult relationship with Ottawa

Vancouver Island leadfoot clocked doing 143 km/h in an 80 km/h zone

Driver issued $483 ticket, has vehicle impounded after pinging RCMP radar in Lantzville

Most Read