A little-known provision of the British Columbia Assessment Act could become a bigger factor in protecting single-family homeowners from the effect of rising property assessments in Vancouver’s high-priced market, a prominent appraiser and tax agent argues.
Section 19.8 is designed to protect long-term homeowners in a neighbourhood from land-use changes, such as rezoning or subdividing. These changes can drive up property values by assessing a property based on potential for redevelopment rather than its actual use.
“As we densify core locations (in Vancouver) and put in place policies...
Empty Nester now?
When children leave the family home, parents often discover that the home is too large for their needs, and consider downsizing.
In 2016 Property Assessments in B.C. went through the roof and the positive side is that Sellers can use that built-up equity in their homes. You will soon be FREE!
Downsizing is a perfect solution to reducing such things as mortgage payments, property taxes, home maintenance, and utility bills. Downsizing enables you to use the equity to put towards improving your lifestyle by freeing you up to travel more, invest in a vacation home or even help your children or grandchildren with their education.
I will help you through every step of the process - including everything from helping you get the highest possible price...