Property owners in the Peace Region should be receiving early notification letters over the next week, says Deputy Assessor Northern Region David Keough with BC Assessment.
1,415 letters have been sent out to property owners who can expect an increase of at least 15 per cent above the average increase in the local taxing jurisdiction.
In total, 37,000 letters were sent to BC residents, with two-thirds of them going to residents of the Lower Mainland.
At this point, only the Greater Vancouver area has been confirmed as a so-called ‘hot spot’ that will see these increases. The biggest confirmed increase is for the houses in Burnaby’s ‘Buckingham’ neighbourhood, with 27 per cent.
New assessments for all properties in B.C. will be released on Jan. 4, 2016, and all Assessment Notices will be mailed to property owners during the first week of the new year.
Keough could not confirm where, besides Vancouver, the letters will be going.
It is not yet known how exactly this information will affect taxes in 2016. The City outlines a 3.8 per cent tax increase, after non-market assessment change, in the operating budget.