2 ~ Friday, January 7, 1994 - North Shore News

Property vaiues rise on N. Shore assessments

NORTH SHORE property owners
can expect to receive their 1994
assessment notices in the mail by
next week.

By Kate Zimmerman
News Reporter

More than 95,000 of the notices
have been mailed out in the area by
the B.C. Assessment Authority,
which has a detailed record of
every property - and the shape it’s

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The notices, which are now
delivered annually rather than bi-
annually, are based on the common
valuation date of July 1, 1993,
Their purpose is to help provincial
and local governments apportion
property tax to landowners in 1994,

B.C. Assessment, a provincial
government Crown corporation,
reports its assessments to both
property-holders and taxation
authorities.

It bases its measurements on

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Gpproved creda,

Sales transactions that occurred Ga
or around July {as well as building
permits issued, neighborhood
trends and sale prices that deviate
from expected land valucs.

“Most of the people complain
that the market value is too high,”
said area assessor Calvin Smyth.

He says the assessment authority
also does inspections of neighbor-
hoods and individual homes.

Property values on the North
Shore have generally increased.

In the City and District of North

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Vancouver, the market value of

most residential property increased |

between [0% and 14%, with con-
dominiums increasing between 3%
and 10%

In the West Vancouver District,
most residential properties
increased in value between 5% and
10%, with condominiums leaping
in worth from 5% to 15%.

Smyth says people who have
questions or complaints about their
property assessments should call
his office at 984-975].

Office hours have been extended
during January to 8:30 a.m. to 6
p.m. Monday to Friday.

If, after discussing an assess-
ment with the local office, a person
stifl disputes ils validity, an appeal
may be filed with the Court of
Revision.

The appeal must be delivered in
writing by Feb. 1 to the local Area
Assessment Authority office (#2 10-
255 West Ist St., North
Vancouver).

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JORIERAL AECTRIC
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Station Squore 6200 McKay 43:

0232 East

alte Ring Ri