Wednesday, January 03, 2007
$$$ Up ! Up ! & UP
Today's Sun front page and business section reports that the lower mainland had the greatest property assessment increases in BC. Specifically BC Assessment reports that a single family home in Langley Township assessed at $378,000 in 2006 increased to $442,000 in 2007 a 17% increase. Two issues can now affect Langley homeowners financially. The $570 homeowners grant threshold is available only for homes newly assessed under $780,000. Hopefully fixed incomers are not bumped above this threshold and hopefully the provincial government moves this threshold up again to compensate. The municipal governments will again get a windfall in revenue as well even though they will say that they adjust mill rates downwords to compensate for the higher assessments. Each & every year even when they say there should be no impact on municipal tax hikes there are lots of recorded complaints and anger similar to Mr Stainton whose home taxes have irrespectively doubled over the past few years! LFP's final words of advice. Sell in 2009 the year before the 2010 Olympics to avoid the crash correction and buy in the fall of 2010 after the Olympics! In the mean time vote out the tax & spend Township council! ...
Posted by Langley Free Press at 12:14 pm