As we are rapidly approaching a new year, that means new property taxes are to come. A report from Landcor(R) Data Corporation has some good information discussing what's happened in BC in the last year for assessments and the like...
Bottom-line for our fair city of Victoria, we have seen valuations for detached homes rise 12% and condos rise 2.4% from July 2009 to July 2010.
Final property taxes will be calculated by multiplying the assessed value by the mill rate as determined by local government. Chances are, we will be looking at tax increases based on this information. However, homeowners can take satisfaction knowing their homes are increasing in value.
Thanks to Landcor(R) Data Corporation for thier report which can be found at:
https://www.landcor.com/market/reports/predicting_2011_assessments.pdf
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