Over the past week, I've received many questions and comments from friends, family, and clients about their 2019 BC Assessments. Did the value of your property change from 2018?
Assessment values for 2019 are based on the value of your property at July 1st, 2018. The market has shifted since then, slowing home sales and driving market values down. This may leave some people confused and questioning their assessment. According to BC Assessments January 2nd news release, the average assessed value of a single family residential in the City of Nanaimo is $490,000; whereas in 2018 the average was $434,000. I've linked the news release here so you can review more details!
If you're wondering about your property's assessed value vs. its current market value, contact me for more information.