Property assessment

[Locke]

Tax the North!

[RedHot25]

Originally Posted by Hemi-Cuda

We just got our assessment, almost a $120k increase from $588,000 to $707,000. Seems a little steep, anyone else in the NW get hit like that?

NW here as well. First, you have a much nicer house than us . Second, while at noticeably lower values than you, we did have a significant jump as well, up something like $50K.

[iggy_oi]

Mine jumped but it was surprisingly still a little lower than what my place was appraised at a few weeks earlier

[calgarygeologist]

Originally Posted by Hemi-Cuda

We just got our assessment, almost a $120k increase from $588,000 to $707,000. Seems a little steep, anyone else in the NW get hit like that?

Only $70K for my home in Varsity.

[Winsor_Pilates]

Originally Posted by Calgary14

I have a relative living in Vancouver who recently considered selling their place, moving to the Okanagan and buying a place there to get ahead. A quick look on MLS quickly squashed that idea when they realized a comparable home there was only $100-200K cheaper than Van

That doesn't seem right; maybe that was the cost difference of getting the upgraded (get ahead home) they perceived was going to be much less?

A quick look at my Vancouver house value and what I could buy in Kelowna and I'm getting a considerably nicer house, more than double the size, 50 years newer, with a swimming pool for the same value as my East Van special.
Or even a brand new build twice the size of my house.

A comparable house to mine is about $800,000 - $1,000,000 less.

[Wormius]

Originally Posted by RedHot25

NW here as well. First, you have a much nicer house than us . Second, while at noticeably lower values than you, we did have a significant jump as well, up something like $50K.

Thus was similar to ours. Just a little north of $50k.

I have been thinking, at this point we could sell, and if interest rates stay the same, we could a modest apartment just on the interest from the principal.

[SportsJunky]

Originally Posted by iggy_oi

Mine jumped but it was surprisingly still a little lower than what my place was appraised at a few weeks earlier

Isn't that normal though? Assessed value being less than appraised value
?

[Winsor_Pilates]

Originally Posted by NinePack

Thanks for the input , i went and checked up on the close properties and looks like they when up in similiar value. crazy. Small town acreage BC.

Was there a change in land use or zoning?
You may want to look into that as it could explain the massive increase.

[Hemi-Cuda]

Originally Posted by RedHot25

NW here as well. First, you have a much nicer house than us . Second, while at noticeably lower values than you, we did have a significant jump as well, up something like $50K.

We bought at the perfect time, mid-pandemic August 2020. I was worried because I had no idea if Covid might cause a crash to the housing market, but it ended up being the cheapest possible price we could have paid. And nicer house is subjective when you have two young kids doing everything in their power to cause havoc

[Engine09]

Up $60,000 here in the SW.

[NinePack]

Crazy, up another 130k not sure whats happining aroundd
Here in southern interior.

[iggy_oi]

Originally Posted by SportsJunky

Isn't that normal though? Assessed value being less than appraised value
?

Typically yes but I also had the house appraised earlier in the year around the peak of the small boom before interest rates went up so I was expecting the city assessment to be above the more recent appraisal because the previous one was considerably higher

[malcolmk14]

Up about $60k to $723k in inner city southwest. Back to 2018 levels.

[Iggy_12]

86K up crazy stuff

[Dentoman]

Originally Posted by Hemi-Cuda

We just got our assessment, almost a $120k increase from $588,000 to $707,000. Seems a little steep, anyone else in the NW get hit like that?

Up $190,000 in the far NW!!

[Sliver]

Originally Posted by Dentoman

Up $190,000 in the far NW!!

Geez, you must be up to like $350k now. Could be wrong on that, but I've always assumed houses in the north aren't worth a whole lot compared to the good end of town.

[Dentoman]

Originally Posted by Sliver

Geez, you must be up to like $350k now. Could be wrong on that, but I've always assumed houses in the north aren't worth a whole lot compared to the good end of town.

Close!
I will say ... I was at the Lake Bonavista clubhouse for a family Christmas get together and that is a great set up. Still won't get me to move there, but I see why you like it.

[Sliver]

Originally Posted by Dentoman

Close!
I will say ... I was at the Lake Bonavista clubhouse for a family Christmas get together and that is a great set up. Still won't get me to move there, but I see why you like it.

Man, the best way to make somebody feel like a jerk is to give them a nice compliment after they try to rib you haha. Thanks.

[Dentoman]

Originally Posted by Sliver

Man, the best way to make somebody feel like a jerk is to give them a nice compliment after they try to rib you haha. Thanks.

I picture you just waiting to pounce on this thread when someone posts about the NW!

[Weitz]

Up 10% in the west this year, sounds like that will be low to no tax increase this year.