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Al2 - Wednesday, February 3, 1982 - North Shore News

REDUCTIONS OF LAND assessments in West Vancouver vary according to zones shown on map. Sub-district 12 has 25 per cent reduction, area 2 has 20 per cent, Panoramas stratas receive 15 per cent cutback, while the balance of

stratas and areas 1, 3-9, 17-19 and 23-26 are lowered by 10 per cent.

FROM PAGE A1

following it but »hasn't followed it fast enough.”

Actual values of land wiil be reduced in all areas of West Vancouyer except Caulfeiid Plateau, which is covered by a land use contract.

Largest reduction, of 25 per cent, goes into effect for residential land behind Park Royal North, in an area taking in Burley Drive and Anderson Crescent.

The Sunset Beach area, including Lions Bay and about 150 homes in the rural area just beyond, will have a land value cutback of 20 per cent.

Ambleside, Dundarave and Lower British Properties will be reduced 15 per cent, as will Panorama strata properties.

The balance of West Van stratas will have their land value assessments trimmed by 10 per cent, as will residential lots in the upper

British Propertics and all remaining areas of the municipality.

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Many of the property owners who filled the public seating area of the council

chamber still expressed dissatisfaction. One man maintained

reductions should apply to complete properties, rather than just to the land which

was only part of the market value.

The chairman said the appeal panel would have to hear “hard cold facts” in individual appeals before lowering the values of homes.

A man who said he would definitely be appealing complained that the 1981 assessment on his retirement

waterfront home had in- creased from $221,000 to $471,000.”

Panel member Jim

Garside told the audience “We know there will be inequities and those pcopic subject to inequities are still subject to appeal.”

Chairman Russell com. mented: “I would expect we would see a lot of

you agata,” adding “The assessors only follow the

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Vhomeowners still unhappy

market, they don’t make the values. This year they haven't followed it down far enough. What you and I are doing in the marketplace is reflected in the assessments.”

One man _ echoed the concerns of many elderly West Van residents when he said that people on fixed incomes are in fear of losing their homes and he asked what the revised assessment figures would mean in terms of taxes.

Russell responded that the court of revision only considers property value assessments and that the question of mill rates for levelling taxes was beyond the pancl’s expertise.

Mayor Derrick Hum- phreys commented that because of the province's school financing formula, West Van property owners are now in a more inequitable situanon§ than other municipalines of BC and are currenUy worse off than at any other time before

“This as the winter of their

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discontent,” he maintained. Assessor Jones said that in West Van the property market dropped faster in the last five weeks of 1981 than anyone had been able to

anticipate. When the 1910 Lonsdale assessment roll closed in north vancouver November, assessments

985-5552

were below market value. CONTINUED ON PAGE Al3

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