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2019 Property Assessments
January 7, 2019
What does your new property assessment mean for your municipal property taxes in 2019?
Last week, BC Assessment released property assessment notices for 2019. Based on these assessments, the average single family home in North Cowichan had an assessment increase of 14%, from $390,420 in 2018 to $445,930 in 2019. However, this does not mean that your property taxes will go up by 14%.
North Cowichan is currently proposing a tax increase of 2.9% in 2019 (budget to be finalized this spring). This is an average tax increase. This means that for North Cowichan homeowners:
- If your property assessment increase is the average of 14%, your property tax increase will be 2.9% in 2019.
- If your property assessment increase is less than 14%, your property tax increase will be less than 2.9%.
- If your property assessment increase is more than 14%, your property tax increase will be more than 2.9%.
For more information about your 2019 property assessment, please visit BC Assessment or call 1-866-valueBC (1-866-825-8322).
Looking for additional information? Check out the following resources from BC Assessment:
- Infographic: Property Assessments & Property Taxes
- Video: Understanding Assessments & Property Taxes
Click here for information on what has been reviewed by Council in the 2019 budget process to date.