Mayor's Report - January 2006

In early January we received our 2006 property assessment notices from the BC Assessment Authority, and it is interesting to examine the statistics. Overall, the total residential assessment base in Belcarra increased by +14.63% while for School District No.43 the overall residential assessment increased by +11.34%. However, since new construction accounted for +0.87% of the Belcarra's total assessment, the average assessment in Belcarra increased by +13.75% over last year. The question is: "How will these changes affect Belcarra's property taxes in 2006?"

The tax levy by the School District constitutes the largest portion (50%) of our residential property taxes, therefore the change in total assessment base relative to our neighbours is the largest factor affecting taxes. A look at the overall increase in net taxable residential assessed values for the municipalities comprising School District No.43 shows that Belcarra's assessments, which account for only 1.0% of the total, compare as follows:

The increases in assessed values above are a combination of an increase to assessed values and new construction, with the “bottom line” being School District No.43 increased by +11.34% overall compared to an average increase of +13.75% in Belcarra. Consequently, relative to our neighbours in School District No.43, Belcarra property owners will collectively pay a slightly increased “share” of the School Tax in 2006.

Search www.belcarra.ca Search WWW