British Columbia’s property assessment agency is warning homeowners that figures released next month estimating the value of their home will likely be higher than the current market price.
However, it says those figures are based on the real estate market as of July 1, 2022, and conditions have changed.The valuation is used to assess local property taxes, and BC Assessment says an added tax burden would only come for owners if the value of their property increased above the average for that community.
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