Mayor's Report - January 1998

In early January we received our 1998 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 only +0.1% while the overall increase for School District No.43 was +2.1%. The question is: "How will this increase affect Belcarra's property taxes in 1998?"

The tax levy by the School District constitutes the largest portion (70%) 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, was lower than our neighbours:

The "bottom line" is that the overall increase in School District No.43 is 2.0% higher than the 0.1% overall increase in Belcarra. Consequently, as a result of new construction, Anmore and Port Moody will pay an "increased" share of the School Tax Levy relative to neighbouring Coquitlam and Port Coquitlam. On the other hand, the average property owner in Belcarra can expect to pay the same "share" of School District Taxes in 1998 as paid in 1997, albeit 2.0% lower than last year!

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