樱桃视频stayed ahead of the provincial curve in property assessments in 2004 while property values in Whistler are finally leveling off.
According to BC Assessment, the total value of all residential, commercial and industrial property in the community, increased to $2.4 billion this year from $1.96 billion last year - a 22 per cent increase.
BC Assessment provided several examples based on actual assessments in areas in Squamish.In the downtown area, a home was assessed at $301,000, up from $227,000 for the 2004 assessment - a 32 per cent increase.
"It's supposed to be representative," of a typical block or neighbourhood, said Jason Grant, the assessor for the Vancouver Sea to Sky Region for BC Assessment.
In Valleycliffe, a single family dwelling rose $65,000 to $304,000 from $239,000 in the 2003 property assessment.
A two-bedroom apartment in the Garibaldi Estates rose $53,500, and a single family dwelling in Garibaldi Highlands went up $53,000 for the 2005 assessment.
The smallest representative increase was in a three bedroom townhouse in Garibaldi Estates, which only went up $35,500 - to $244,000 from $188,500.
The highest jump in values in the downtown area may be partially explainable by the initial price of the homes.
"Periodically lower priced housing moves more dramatically than the higher priced housing," Grant said.
Things like the individual properties location, condition, size and age affect the assessed value of a home.
The 2005 assessments are based on the property's market value as of July 1, 2004 - not the current value.
"The real estate market creates property value," Grant said. "We're repeating what the market has done, we're not in the business of speculating why."
Last year the roll increased by 31 per cent roughly, Grant said.
But just because property values are increasing doesn't mean property taxes will too.
"You won't find too many people whose taxes went up 30 per cent year after year," Grant said.
樱桃视频council kept the property taxes down in the 2004 budget despite the increase in assessment values last year. In April 2004, 樱桃视频District council proposed a zero per cent increase but residents with the extraordinarily high property assessment increases still saw tax increases.
樱桃视频council is drafting the 2005 budget, and will decide if there will be a budget increase and how it will affect taxpayers.
Although property values in 樱桃视频rose considerably, the examples BC Assessment used to represent a typical home in Whistler showed only small increases or even decreases in value. For example, a two-bedroom apartment in the village fell to $660,000 for 2005 from $666,000 in 2004. Overall however, Whistler's assessment still went up this year and last.
Homeowner grant threshold hiked
Homeowners who saw their property assessments cross the threshold for homeowner grants this year may still be able to get tax relief after all.
The government intends to introduce legislation in February as part of the 2005 budget to raise the threshold for unreduced homeowner grants to $685,000 from $585,000, Finance Minister Colin Hansen announced Wednesday (Jan. 5).
The Home Owner Grant Program basic grant entitles a homeowner to a maximum reduction in residential property taxes of $470.
