Sooke single-family home assessments to leap 10 to 40% this year

Sooke single-family home assessments to leap 10 to 40% this year

Assessments for all homes will be mailed in the first week of January

Single-family homes in Sooke will face “substantial increases” on their 2017 B.C. Assessments.

Homeowners in the Sooke region will probably see higher assessments in the 10 to 40 per cent range, said Christopher Whyte, acting assessor for the Vancouver Island region.

Five per cent of homeowners across B.C. can expect higher taxes because their properties have risen higher than the average in their municipality.

Courtesy notification letters will be sent to homeowners whose assessed values are at least 15 per cent higher than average in their municipality and they can expect taxes to go up by the same amount.

Assessments for all homes will be mailed in the first week of January and be posted online Jan. 3.

Homeowners have until the end of January to have the assessed value reviewed and their complaint will be heard before March 15.

“There has been a significant market movement in the Lower Vancouver Island area this year,” Whyte said.

“Victoria has a solid job market, vacancies are low, there’s pressure from Lower Mainland and retirement, all those factors come into play.”

Other factors that can affect an assessment are significant renovations, how attractive the neighbourhood is for investors and homebuyers, and zoning changes, for instance to increase density.

Not all properties assessed at a higher value will see their taxes rise, said Whyte. It depends on how your property performs compared to others in your taxing jurisdiction,” he said, adding some taxes can decrease.

If a property goes up 50 per cent and the average for that municipality is 30 per cent, “then that homeowner will see a tax increase,” he said.

And there’s no indication of the market slowing down.

So far this year, more than 600 homes have sold in Sooke, compared to 395 in 2015.

Sooke realtors sold 14 properties last week.

“Anything that’s coming up on the market that’s decently priced is selling,” said Sooke realtor Tammi Dimock, adding this is the strongest market in years.

Higher assessments shouldn’t be a surprise to homeowners, said Whyte.

“The reason we’re notifying property owners this year is because its quite a substantial increase. It is to be hoped that those in tune with the market will understand it.”

About three percent of all properties in Greater Victoria will receive the letters, said Whyte.

The highest assessments in Greater Victoria are expected to be in Victoria, Saanich, Sidney and Oak Bay. Typical strata residential increases will be in the five to 25 per cent range, Whyte added.

 

Be wary of property assessments, warns a Sooke realtor

Last week, B.C. Assessment said many single-family homes in Greater Victoria, including Sooke, will probably face hikes of up to 40 per cent next year.

But for Royal LePage realtor Tammi Dimock, there’s no “rhyme or reason” on how the assessments are calculated.

Appraisers analyze current sales in the local area, as well as the property’s size, age, quality, condition, view and location, said B.C. Assessment in a written statement.

“Fundamentally, they don’t even come out a check house anymore, they just ride what the market is saying,” Dimock said. “B.C. Assessment hasn’t been a player for a while.”

The result? Two exact houses next door to each other can see a price difference as much as $80,000. The difference is that the house that sold more recently will have a current market value.

Dimock doesn’t blame the staff at B.C. Assessment. It comes down to a staffing issue.

“They do a good job, but everyone has to work within their means,” Dimock said.

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The B.C. Supreme Court ruled Feb. 26 that the estate of deceased Sooke man and Hells Angels prospect Michael Widner is to be divided between his wife and his secret spouse. (Black Press Media file photo)
Estate of deceased Hells Angels prospect from Sooke to be divided between wife and secret spouse

Michael Widner’s 2017 death left a number of unanswered questions

Sooke resident Nathan Hanson popped both his driver’s side tires on a pothole near a construction site on Sooke Road. Hanson said he was following a line of traffic and was just before the 17 Mile Pub when he drove over the pothole. (Photo contributed/Nathan Hanson)
Driver blows two tires on pothole near construction site on Sooke Road

Ministry of Transportation says keeping highways in good condition a priority

On Feb. 27, a construction vehicle remained on the site of the former encampment between the Pat Bay Highway and McKenzie Avenue as part a clean-up effort. (Devon Bidal/News Staff)
Encampment between Pat Bay Highway, McKenzie Avenue cleared, all residents relocated

Efforts to disband encampment resumed after January fire

Environment Canada has issued a wind warning for Greater Victoria, with winds expected to get up to 70 km/h Friday morning. (Don Denton/Black Press Media)
Wind warning promises blustery Friday for Greater Victoria

Winds up to 70 km/h expected Friday morning

Crews deal with a rock slide on the Malahat section of Highway 1 in 2017. (Black Press Media file photo)
Rock work closes Highway 1 in Langford for spurts

Friday closures could delay drivers up to 20 minutes

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry head for the B.C. legislature press theatre to give a daily update on the COVID-19 pandemic, April 6, 2020. (B.C. government)
B.C. nears 300,000 COVID-19 vaccinations, essential workers next

564 new cases, four deaths, no new outbreaks Thursday

(Black Press Media file photo)
POLL: How’s your butter?

Recent reports have some Canadians giving a second look to one of… Continue reading

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS (8477) or visit the website victoriacrimestoppers.ca for more information.
Greater Victoria Crime Stoppers wanted list for the week of March 2

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Comox Valley-raised Shay Sandiford has earned a spot on the Canada skateboard team. Facebook
Vancouver Islander selected to Canada’s first-ever national skateboard team

Courtenay’s Shay Sandiford has his eye on qualifying for this summer’s Olympics in Tokyo

This Dec. 2, 2020 photo provided by Johnson & Johnson shows vials of its Janssen subsidiary’s COVID-19 vaccine in the United States. THE CANADIAN PRESS/AP-Johnson & Johnson via AP
Canada approves Johnson & Johnson’s 1-shot COVID-19 vaccine

It is the 4th vaccine approved in Canada and the 1st that requires just a single dose

Walter Gretzky father of hockey hall-of-famer Wayne Gretzky waves to fans as the Buffalo Sabres play against the Toronto Maple Leafs during third period NHL hockey action in Toronto on Tuesday, Jan. 17, 2017. THE CANADIAN PRESS/Nathan Denette
Walter Gretzky, father of the Great One, dies at 82

Canada’s hockey dad had battled Parkinson’s disease and other health issues

The intersection of Melrose Street and Third Avenue. (ELENA RARDON / ALBERNI VALLEY NEWS)
Suspect in custody after two pedestrians struck in Port Alberni hit and run

RCMP asking for video footage, credit witnesses for quick arrest

(National Emergency Management Agency)
No tsunami risk to B.C. from powerful New Zealand earthquake: officials

An 8.1 magnitude earthquake shook the north of New Zealand Thursday morning

Comox Valley RCMP had access to 20 Street blocked off between Cousins and Choquette avenues as they conducted a raid of a house on the block. Photo by Terry Farrell
Comox Valley RCMP raid Courtenay problem house, several arrests made

Comox Valley RCMP conducted a raid of a problem house on 20th… Continue reading

Most Read