Floods affect BC Assessment values
Oct 28, 2012 / 5:00 am
When spring flood waters roared through parts of the Columbia-Shuswap, Central Okanagan and Tulameen recreational area, many property owners were faced with massive amounts of damage to both their structures and land.
Damage which very likely affected the assessed value of the property.
As a result, BC Assessment is requesting that property owners who experienced damage because of the heavy rains and flooding that occurred in those areas contact them soon.
“Owners of property substantially damaged by flooding are asked to contact us before October 31,” says Okanagan Deputy-Assessor Tracy Wall.
“BC Assessment may reassess an impacted property’s market value so its current condition is reflected in the 2013 Assessment Roll released next January.”
Wall adds that changes in assessments as a result of substantial damage that are not reflected on the 2013 Assessment Roll can also be made through the Property Assessment Review Panel process that occurs from February 1 to March 15, 2013, and will be reflected on revised assessment notices to be mailed in April, 2013.
“We understand this is a difficult time for impacted property owners and we are working with local governments and other organizations to ensure that any necessary property assessment revisions are made in advance of the 2013 Roll,” says Wall.
“Ultimately, however, we need property owners to advise us of their property damage to ensure their property values are amended.”
The contact information for the BC Assessment Okanagan Office is:
Suite 202-1500 Hardy Street
Kelowna, BC V1Y 8H2
Toll Free: 1-800-990-1192
For more information about BC Assessment, visit their website.
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