2019 Property Assessments Issued by BC Assessment
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The BC Assessment Authority has issued 2019 property assessments to property owners across British Columbia this week.
According to the BC Assessment changes map by jurisdiction, property assessments in Cumberland (not including new growth) have
- increased by 19.51% for residential properties
- increased by 4.22% for business and other
- decreased by 13.29% for light industry
BC Assessment advises that the majority of residential home owners within the Vancouver Island region can expect an increase up to 20 per cent as compared to last year’s assessment.
View a BC Assessment video on Understanding the Assessment Process and Property Taxes.
The Village has determined the revenue necessary to pay for community services in 2019 through its budget process, which will be completed when Council adopts its financial plan bylaw expected in late January 2019. View highlights of the 2019 financial plan. To collect this revenue, the Village will set the 2019 property tax rate based on 2019 property assessment values. Cumberland Council will consider property tax rates in April 2019.
Any taxes collected from growth in 2019 will be invested in a reserve that will help pay for policing when the Village’s population reaches 5000 people, when the Village must pay 70% of policing costs.
Find out more about your property assessment from BC Assessment, including
If you’ve recently moved you can update your property information and change of address notification with BC Assessment.
If you haven’t received your assessment notice please contact 1-866 valueBC (1-866-825-8322).
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