Wednesday, January 09, 2008

NANAIMO PROPERTY ASSESSMENT CONTINUES TO RISE

NANAIMO PROPERTY CONTINUES TO INCREASE

The average Nanaimo residential property value has increased to $338,000.00 as of July 1 2007. This represents an increase in assessed value of between 5 and 25 % since 2006.
The average residential property value in Nanaimo in 2005 was $211,000.00 and prior to 2005 the average values had been relatively flat according to the deputy assessor for Vancouver Island.
Residents are reminded that an increase of 25% on their assessed property value does not mean their taxes will increase by 25% as taxes are affected by the mill rate set by the city.
City taxes overall are expected to increase by another 7% this year, due in part to the Convention Center.

allvoices

No comments:

Post a Comment

Your comment will appear after moderation before publishing,

Thank you for your comments.Any comment that could be considered slanderous or includes unacceptable language will be removed.

Thank you for participating and making your opinions known.

Note: only a member of this blog may post a comment.