Happy New Year!
Some of you may have already received the Property Assessment Notice from BC Assessment in the mail. It reflects the assessed value of your home as of the day July 1, 2014. It is used to calculate how much tax you pay for services such as police and fire protection, emergency rescue, road construction and maintenance, garbage, community centres, libraries, parks, schools and hospitals.
As real estate agents, we determined the value of your home based on similar homes that were sold in the past 3-6 months. If you are selling your home, we also look at other similar homes currently on the market to price your home strategically so when buyers comparison shop, they see the value of buying your home. The Property Assessment is only a reference and some homeowners appeal the assessments to get a lower value to pay less property tax. That’s why it is not the only number we look at when valuing your home. If you’d like a current, up to date FREE market evaluation of your home, or how your neighborhood has been performing in the past 5 years, please contact Jenny: 604-818-7317 firstname.lastname@example.org
Remember, if you are a BC resident, you can pay less tax on your principal residence using the Home Owner Grant. See more information here.
Check out the video “2014 Year End Housing Market Update” from the Real Estate Board of Greater Vancouver here.