The average assessed value of a single-family home in Rossland is up 11.8 per cent according to BC Assessment.
The corporation sent out a release early Tuesday morning that showed the average assessed values for homes in communities across the Kootenay Columbia region.
“The majority of residential homeowners within the region can expect an increase compared to last year’s assessment,” Ramaish Shah, deputy assessor said in the release. “Some markets have moved more than others. Revelstoke, for instance, has seen strong demand for housing over the past year. Some areas have seen a decrease in demand as well, and this is reflected in the current assessed values.”
Rossland’s average assessment increased from $271,000 to $303,000 from 2017 to 2018.
That increase is likely attributable to improvements — there were 75 permits issued for additions or alterations by the end of November in 2017 and eight permits for new garages or carports — but also to demand in Rossland — there were permits issued for 32 new units of housing in Rossland by the end of November, according to the city’s building permit report.
“Rossland has been hopping with new builds and lots of renovations were done in 2017 too. 2018 looks to be just as busy for our planning department,” said Rossland Mayor Kathy Moore. “These improvements serve to drive up the assessed value of homes. In addition, I think a lot of people in more expensive areas are discovering the Interior and finding it a good place to move — it’s safe, affordable and offers a wonderful outdoor lifestyle.”
In comparison, the average assessed value for a home in Trail increased 8.9 per cent, in Fruitvale, it increased 17.2 per cent, in Montrose 1.2 per cent and in Warfield 4.3 per cent.
Property owners can expect to receive their assessments sometime “in the next few days.”
Anyone concerned about their assessment should contact a BC Assessment appraiser using the information on their assessment notice.
Anyone who still has concerns after speaking to an assessor has until Jan. 31 to submit a notice of complaint for an independent review by a Property Assessment Review Panel.
