District wants rollback FROM PAGE A12 “However, the market continued the drop on through December and into early January, which then gave us evidence that the assessments overall were too high.” N. VAN DISTRICT But Jones did not consider this to be the case in North Vancouver District when the municipality lodged its blanket appeal on behalf of all homeowners. District Financial Director Mel Palmer produced breakdowns of figures relating to house sales- last year which showed that of the 391 single family homes sold in the District in the last six months of 1981, 108 were assessed at more than they were sold, showing over assessments on 27.6 per cent of the properties. Applying that percentage on a District wide basis, he said, some 5.559 properties were potentially over assessed. The situation became even worse during the last quarter of the year, he said, showing that of the 155 single family homes sold during that period, 53 — or 34.19 per cent — were assessed at more than they fetched. Applied to the entire District, the figure would mean some 6,999 properties being potentially over assessed. District's argument was that the figures showed such large portions of the assessment roll were ip- correct that assessments on residential properties should be rolled back to their 1981 level, allowing for new construction and changes in exempt status. Assessor Jones disagreed strongly and asked for the opportunity to be able to prepare his own figures. The hearing was adjourned until such time as he is ready with the figures. Jones told the panel that in the cases of five identical homes being sold cach ‘would fetch a_ different price. If the assessment authority accepted the mean ‘ price of the five as being the assessement value of the five homes, 40 per cent of the homes would be overvalued. This, he said, was a typical situation and he considered a 40 per cent margin of over valuation as “a_ tolerable value.” , Jones concluded from those figures that if only about 30 per cent had been over valued “It would in- dicate it is a job well done and we have probably under assessed.” His comments were greeted by boos and jeers from the audience. Palmer told Jones that difficulties in coming up with an alternative assessment formula were problems for the assessment authority, not the municipality. “There exists a con- siderable quantity of the assessed properties which are distinctly over assessed,” he said. Jones wondered if the District would be recom- mending that the remaining 75 per cent of home assessments should be in- creased and Palmer accused him of being facetious. Jones asked whether rolling back assessments to 1981 figures would be an accurate assessment of current values. Members of the audience shouted that it would. Jones asked whether it would meet the definition of actual value as laid down in the Assessment Act. Palmer maintained Jones was using conjecture, while the municipality had spent 10 days preparing a factual presentation. Again audience members shouted their support. But panel chairman Mr. D.D. Davies said that if the court of revision went against the figures of the assessor then it would be going against the Assessment Act. He thought it correct to make appeals on individual properties which might be apparently over assessed but not on the total properties of the District. When Palmer commented that the 1981 figures were closer than those of the assessor for the current year, the chairman responded: “We are not trying to be closer, we're trying to be right. Our problem is to correct the roll. We correct the roll by changing the mistake.” Palmer added that the only way to do that was through a detailed check of every instance, one by one through the roll. ‘IT think that is the way to do it,” agreed the chairman. Palmer maintained that if the assessment authority was going to err, “it should err on the side of the angels.” While Jones is preparing figures to present when the adjourned hearing is resumed, the court of revision will be hearing iffdividual appeals from District homeowners. The blanket appeal by the municipality applies only to residential properties. Mayor Don Bell has told the News that if home values are rolled back while commercial and industrial assessments stay at their present level , single family taxpayers will see a six per cent drop in taxes on a municipal level, which would be shifted to indus- trial-commercial taxpayers. “It will affect the taxes the individual citizen pays, because of the schools formula, and Victoria would end up picking up a bigger tab.” FABRIC SALE JANUARY 26 - FEBRUARY 6 PURE WOOLS § PURE SILKS and WOOL BLENDS Plains Tweeds Plaids 99 Dresses shurts S jackets pants 60 7150cm Reg $10 95-$18 95/m Vancouver's finest selection of quality fashion silks metre SAVE 10% on prints SAVE 20% on plains POLY/COTTON BROADCLOTH 45°1115 cm — $1.99/m CLASSIC CORDUROY Pants jackets skits Knick ers tor Spang Lasy care col ton Machine wash and dry 1 sry $488 REVERSIBLE QUILTEDS And cotton co ordinates As sored Colours and patterns Machine washable 45 7115 cm wide save 30% ELITE CREPE Get a head start on your Spring dress) Choose tram 6 Colours In machine washable 100% polyester my wv, SEBS SAVE 25% ON ALL OUR BORDER PRINTS! 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