‘Good news’ coming to region’s property owners

Property assessment notices in the mail, beginning Saturday

The majority of people who own property in the Capital Region won’t be disappointed when their 2012 property assessment notices arrive in their mailbox next week.

“I think people are looking at what the value of their real estate is doing. Obviously, people have got a lot of money invested in real estate,” said Reuben Danakody, an assessor at B.C. Assessment’s Victoria-based Capital Region office, which services more than 141,000 properties valued at nearly $92 billion. “Most want to see their values flourish.

“I think the fact that (market) values are stable and holding in (Greater) Victoria is probably going to be good news (to property owners).”

Millions of B.C. property assessment notices will be in the mail by Saturday (Dec. 31), headed across the province and around the world to people who own properties in B.C.

Details of the 2012 assessment roll won’t be released until Jan. 3.

Of those, more than 140,000 envelopes will reach owners of properties in the Capital Region, halfway up the Malahat Drive of the Trans-Canada Highway, the Tsawout and Songhees aboriginal communities and the Gulf Islands.

More of the paper notices in the 2012 assessment roll will be sent out this year, reflective of an increase in the number of new homes that have been built, particularly on the West Shore where land is available, Danakody said.

Though Greater Victoria’s housing market hasn’t seen the increase in activity that Greater Vancouver has, Danakody said locally, the market is strong and steady.

“You didn’t see the leaps and bounds you saw in previous years, but I would describe it as a very stable market,” he said, adding that construction may not be as brisk as it was in 2010 and 2011, but people are, however, spending money on home renovations.

“(New construction) … shows stability in the market place, and overall economic growth is good for the community here,” Danakody said. “New construction is good. Obviously it creates jobs.”

Market strength and stability is also helped by the presence of large-scale employers in the region, including several federal and provincial government departments, the Vancouver Island Health Authority and the University of Victoria, Danakody said.

People interested in knowing what their real estate portfolios are valued at as of July 1 each year are paying closer attention to their annual property assessments.

The information helps owners make more informed decisions about future purchases, said Danakody, adding the values are also significant because of their “impact on the (municipal) property taxes that (owners) would be liable for in the forthcoming taxation year.”

 

 

Just Posted

Four charges approved in Saanich hit and run that left woman in coma

‘This was a significant crash that caused serious injuries,’ say police

Crown alleges resentment of ex-wife drove Oak Bay father to kill his daughters

Patrick Weir alleged in his closing arguments that Andrew Berry is responsible for the deaths of his daughters

Tour de Rock kicks off on Saturday morning

The 22nd annual Cops for Cancer Tour de Rock ride will take two weeks to complete

One-man Frankenstein show coming to Craigdarroch Castle

The Halloween special will kick off at the beginning of October

MISSING: Victoria man Cameron Johnston

VicPD are looking for a missing 36-year-old man

PHOTOS: Young protesters in B.C. and beyond demand climate change action

Many demonstaers were kids and teens who skipped school to take part

Former B.C. lifeguard gets house arrest for possession of child porn

Cees Vanderniet of Grand Forks will serve six months of house arrest, then two years’ probation

How to react to Trudeau’s racist photos? With humility, B.C. prof says

‘We are now treating racism as a crime that you cannot recover from’

‘I’d do it again,’ says B.C. man who swam naked, drunk in Toronto shark tank

David Weaver, of Nelson, was drunk when he went to Ripley’s Aquarium in Toronto on Oct. 12 2018

VIDEO: Fire destroys Williams Lake strip club targeted by past arson attempts

Diamonds and Dust Entertainment Lounge destroyed by fire, as well as New World Tea and Coffee House

Trudeau seeks meeting with Singh to apologize for blackface, brownface photos

‘I will be apologizing to him personally as a racialized Canadian,’ Trudeau said Friday

Crime Stoppers most wanted for Greater Victoria for the week of September 17

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Should the province step in to upgrade the road to Bamfield?

The death of two University of Victoria students on a bus bound… Continue reading

Charges stayed against Alberta RCMP officer in alleged off-duty Whistler assault

Const. Vernon Hagen instead completed an alternative measures program

Most Read