by Andru McCracken
You may have been choking as you paid $32,000 for a standard lot in Valemount in 2016, but if you did, you should be pleased if you’re planning to sell it. Its assessed value climbed 144% over two years. That $32,000 property is now assessed at $78,200.
The increases on vacant properties is outstripping the increase in residential homes by far, but the assessment of Valemount’s single family dwellings also continued to rise this year. As of July 1, 2018, property values for a middle-of-the-road home rose about 18%.
The typical home in Valemount sold for $187,900 in 2017, but as of July 1, 2018 the same home was selling for $223,100.
Whether the stalling of the Trans Mountain Pipeline (expected to start construction in 2018) had an impact on property prices won’t be known until next year, as the project was halted after properties were assessed.
Realtor Shelly Battensby said not every homeowner knows that they have a brief opportunity to contest their assessment.
“If you are concerned about your assessment, talk to BC Assessment,” said Battensby. “The appeal process has a very short window.”
Appeals need to be filed by January 31.
In McBride, single family detached homes retained most of their value, falling slightly.
A home in the middle of the pack, valued at $126,300 dropped in value slightly to $125,200, losing roughly -1% of its value.