Tag: property assessment
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Nanaimo cidery fights tax hike after property reclassification
Summary: Cidery faces potential tax increase after land reclassified The owner of Big Bang Cider in Nanaimo, B.C., is challenging a recent property assessment that reclassified roughly 800 metres of his farm as light industrial. The shift could trigger higher taxes and alter how the land is used for business purposes, prompting concern from the…
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Nanaimo Cidery Faces Possible Tax Hike After Property Reclassification
What happened A Nanaimo cidery is confronting a potential increase in property taxes after a portion of its farmland was reclassified by BC Assessment as “light industrial.” The change, affecting roughly 800 metres of the farm, has the owner worried about higher annual tax bills and the broader financial viability of the business. BC Assessment…
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Demystifying Property Assessment Myths
Understanding Property Assessments Property assessments play a crucial role in real estate, especially during the unveiling of new evaluation rolls every three years. Homeowners often feel a sense of shock as they see changes in their property values. This article aims to demystify common myths regarding property assessments, providing clarity for property owners. What is…
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Understanding the Impact of Property Assessment Rolls
Introduction to Property Assessment Rolls Every three years, homeowners across cities are met with the unveiling of new property assessment rolls. This event often sends shockwaves through communities, stirring emotions and igniting debates. Many property owners take issue with the numbers presented, particularly when they feel the assessments are too high. This article aims to…