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It’s that time of year again when property owners start receiving annual assessment notices from BC Assessment.
As a result the city has issued a news release reminding property owners, that an increase in assessment values does not necessarily result in an equivalent percentage increase in municipal taxes.
So even though the assessmed value of Fort St. John residential properties has increased on average by 2.7 percent, a similar property tax hike will not necessarily follow.
The city release notes that local governments do not benefit from provincial property assesssments, which based on current market value simply distribute the share of the tax burden in an equitable fashion.
This year the actual change in the property tax bill will not be determined until March 26th, the projected final budget date. Only after that budget has been determined will the tax rates be calculated using the aforementioned assessed values.
Property owners with assessment questions are advised to contact BC Assessment, and you can do so on line at www.bcassessment.ca. The deadline for appealing property assessments is January 31st.
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