It is important to note that In British Columbia, property assessments, typically mailed in January, reflect market values effective July 1 of the preceding year.

 

In general terms, market value is the price expected if a reasonable amount of time is allowed to find a purchaser and if both seller and prospective buyer are fully informed. For assessment purposes in British Columbia, market value is the most probable price that an unencumbered property would sell for on the open market on July 1st.

 

The annual assessment process is often a confusing one for many commercial and residential property owners.  Typically there is a difference between the property value assessment on the assessment notice and the current market value as determined by a REALTOR®.

 

This difference is a result of two factors.  The first factor involved BCA’s mass appraisal system, which calculates property value by evaluating prices for homes sold in each neighborhood or for units in a strata complex and then applies the information to arrive at an assessed value.  This information is typically obtained from MLS sales, NOT by visiting the properties in question.  The variables BCA uses to calculate this value include house type, square footage, age, heating, property classification or use, and additions or demolitions of features such as garages, sheds, pools and spas.

 

The second factor depends on the time at which a property is assessed.  Normally, a 2012 assessment notice is BCA’s estimate of a property’s market value as of July 1, 2011, whereas a REALTOR®’s market value reflects the current state of the market, not the market six months ago.

 “Market value assessment” is widely considered to be the fairest system for distributing the property tax burden.  As the real estate market can change very quickly, depending on an historical assessment (July assessment for next year’s tax purposes) to be an accurate indicator of market value can be erroneous.

Read full post

We have listed a new property at 530 BRAND ST in North Vancouver.
Enjoy South easterly views from a lovely location on a desirable & quiet street in Upper Lonsdale. Nestled between Brand & Somerset is a wonderfully kept 1950's home, offering 3 bedrooms up, a one bedroom suite down with large living roomand separate foyer, plus single garage and carport. Neat and tidy - and well cared for over the years, with new roof, gutters and some drainage in 2005, a bright white early '90's kitchen and an attractive 60'x110' lot, plus a large deck off the living & dining rooms from which to enjoy the S/E views. This home would lend itself nicely to a contemporary renovation, but is perfectly livable in the meantime. A great price, and tremendous value here!
Read full post

Please visit our Open House at 530 BRAND ST in North Vancouver.
Open House on Saturday, January 21, 2012 2:00 pm - 4:00 pm
Enjoy South easterly views from a lovely location on a desirable & quiet street in Upper Lonsdale. Nestled between Brand & Somerset is a wonderfully kept 1950's home, offering 3 bedrooms up, a one bedroom suite down with large living roomand separate foyer, plus single garage and carport. Neat and tidy - and well cared for over the years, with new roof, gutters and some drainage in 2005, a bright white early '90's kitchen and an attractive 60'x110' lot, plus a large deck off the living & dining rooms from which to enjoy the S/E views. This home would lend itself nicely to a contemporary renovation, but is perfectly livable in the meantime. A great price, and tremendous value here!
Read full post

Please visit our Open House at 1707 GRAND BLVD in North Vancouver.
Open House on Sunday, January 15, 2012 2:00 pm - 4:00 pm
Advertised in 1909 as "The Broadest City Avenue in America", the Grand Boulevard was compared to Paris' Champs Elysees. Forty-five acres of land were cleared to make our boulevard, adjoining playing field and residential lots. This neighborhood still retains its premier status today, and here is an exceptional & custom-built masterpiece ready for you to move into for the New Year! Featuring 5300 square feet on 3 levels, this home offers a stunning open plan main floor with enormous kitchen, walk-in pantry, office, living, dining and family rooms. There are 4 bedrooms up, an amazing master suite, hardwood flooring throughout, stone & marble treatments, soaring ceilings, gorgeous landscaping, plus 3 car garage, lane access, security system with surveillance cameras, heat pump & full rainscreen construction. More at Realtor's website.
Read full post
Categories:   #IMHOME CONTEST | Ambleside, West Vancouver Real Estate | Annual Pumpkin Patch | Blueridge NV, North Vancouver Real Estate | Boulevard Real Estate | Boulevard, North Vancouver Real Estate | building | canuck place adventure challenge | Capilano Highlands, North Vancouver Real Estate | Capilano NV, North Vancouver Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Lonsdale, North Vancouver | Central Lonsdale, North Vancouver Real Estate | Coal Harbour, Vancouver West Real Estate | Common Property | conquer cancer lynn valley, ride to conquer cancer | Deep Cove, North Vancouver Real Estate | Dollarton, North Vancouver Real Estate | Downtown VW, Vancouver West Real Estate | Dundarave, West Vancouver Real Estate | False Creek North, Vancouver West Real Estate | Forest Hills NV, North Vancouver Real Estate | Grouse Woods, North Vancouver Real Estate | habitable area | Hamilton, North Vancouver Real Estate | Heritage Woods PM, Port Moody Real Estate | Indian River, North Vancouver Real Estate | interest rates | Lions Bay, West Vancouver Real Estate | live in lynn valley | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver Real Estate | Lynnmour, North Vancouver Real Estate | Maintenance Fees | Municipality | North Vancouver Real Estate | Northlands, North Vancouver Real Estate | Oil Tank Removal | permits | Princess Park, North Vancouver Real Estate | pumpkin patch 2012 | Queensbury, North Vancouver Real Estate | Real Estate | Renfrew VE, Vancouver East Real Estate | Roche Point, North Vancouver Real Estate | Strata | Strata Lot | Strata Property Act | Tempe, North Vancouver Real Estate | Unit Entitlement | Upper Lonsdale, North Vancouver Real Estate | VNVED, North Vancouver Real Estate | Westlynn Terrace, North Vancouver Real Estate | Westlynn, North Vancouver | Westlynn, North Vancouver Real Estate
Blogs
Posts By Date
Categories