Reassessments on BC Housing properties has local impact

It’s particularly jarring when instead of a Christmas card, it’s a tax bill in the mail.

It’s never fun when the tax man comes calling. And it’s particularly jarring in December when instead of a Christmas card, it’s a tax bill in the mail.

That’s what happened in Trail following property value reassessments of two apartment complexes, one downtown and the other in East Trail.

Now the city owes $8,864 back to the government since the buildings were reassessed at the request of BC Housing.

Trail Mayor Mike Martin points out lowering property values on BC Housing facilities is one more way the province is saving money on the backs of B.C. taxpayers.

“At no point have senior levels of government really looked at or provided local government or municipalities with any other avenues by which to increase revenue generation apart from property taxes,” Martin said. “So we are faced with either cutting services to make up for that shortfall or increasing taxes to other rate payers.”

He’s also disappointed with the timing of the news from BC Assessment’s Kootenay Columbia Region.

“We operate a balanced budget based on all the information we had going into 2015,” he explained. “Then get this late notification that we now owe BC Housing $8,800,” he added. “And this is not just retroactive for 2015, it will affect revenue going forward because assessment rolls don’t usually change once fixed in place.”

And it’s not just the city impacted by lower re-assessed values.

The Regional District of Kootenay Boundary was hit with a $5,900 bill; the school district $6,200 and the regional hospital board, $615, following the reduction in value of the two Trail buildings.

“So it manifests itself in many other ways,” Martin told the Trail Times. “We are talking about it from a Trail perspective but the regional district and school will be faced with exactly the same situation – they will also have to find way to deal with this lower tax revenue. The impact is broader than Trail – it’s province-wide.”

There were approximately 500 properties owned or operated by BC Housing that under went review this year, confirmed Ranaish Shah from Kootenay Columbia’s Nelson-based offices.

About one quarter of those were appealed during the 2015 appeals process.

“As part of the review and working our way through those appeals, we realized many of these properties had restrictions in terms of the rent that could be charged,” he explained. “We hadn’t reflected that on the assessment rolls, so a decision was made to reflect those restrictions and the result is the values have changed.”

Market value for the two buildings would likely differ, he added.

“So that’s what we are reflecting at this point in time,” Shah clarified. “In some cases the restriction is registered on the title so even if that building sells to another person, the (rent) restriction would still be in place.”

Combined, the value of the Trail buildings fell almost $2.2 million since the previous assessment.

The first is Silver City Gardens, located on Columbia Avenue, which is owned by Canadian Mental Health. Assessed at almost $2.8 million in 2014, the property value is now $1.2 million. The other is Jubilee Place on Bay Ave. Listed as provincial rental housing, the 35-unit complex is currently assessed at $901,000, which is $526,000 less than last year.

“The BC Housing Authority is the organization that raised the issue and sought relief through appeals that were launched,” said David Perehudoff, Trail’s chief administrative officer. “Assessments were adjusted in 2015 so they will get a refund of property taxes paid this year and the lower assessment will be used going forward,” he added. “In total (for 2015) the properties will realize property tax relief in the amount of $21,767.”

Just Posted

“I want to see the difference in the world, embrace it, celebrate it … ” Photo: David Cantelli/Unsplash
A new way to say ‘Hello’

“Inclusion, you see, is NOT about making us all the same.”

Waneta Manor is located on Laburnum Drive in Trail. Photo: Sheri Regnier
Senior dies as Trail tenants continue wait for broken elevator to be fixed

The elevator in Waneta Manor has been out of commission since February

For Your Consideration
Brokeback Facebook: I wish I knew how to quit you!

Thom is inspired by the proliferation of viral inane questions to reevaluate his social media use

The author during GoByBike Week. Taking a break from all that high-flying on the Isador Canyon Trail. Photo: Christina Blaskovich
The auto and the bike: A paean to them both

One becomes an extension of one’s self. The other offers the sensation of flight.

Area A Director Ali Grieve (right), Village of Fruitvale Mayor Steve Morissette (front), and Village of Montrose Mayor Mike Walsh (left) held a congratulatory ceremony for Beaver Valley students who are part of the Class of 2021 graduates of J. L. Crowe Secondary at Beaver Creek Park on Thursday. Photo: Jim Bailey
Beaver Valley Grads of 2021

Beaver Valley mayors, RDKB Area A director celebrate their 2021 graduates with gift ceremony

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

FILE – Most lanes remain closed at the Peace Arch border crossing into the U.S. from Canada, where the shared border has been closed for nonessential travel in an effort to prevent the spread of the coronavirus, Thursday, May 7, 2020, in Blaine, Wash. The restrictions at the border took effect March 21, while allowing trade and other travel deemed essential to continue. (AP Photo/Elaine Thompson)
Feds to issue update on border measures for fully vaccinated Canadians, permanent residents

Border with U.S. to remain closed to most until at least July 21

A portion of the George Road wildfire burns near Lytton, B.C. in this Friday, June 18, 2021 handout photo. THE CANADIAN PRESS/HO, BC Wildfire Service *MANDATORY CREDIT*
Blaze near Lytton spread across steep terrain, says BC Wildfire Service

Fire began Wednesday and is suspected to be human-caused, but remains under investigation

Blair Lebsack, owner of RGE RD restaurant, poses for a portrait in the dining room, in Edmonton, Friday, June 18, 2021. Canadian restaurants are having to find ways to deal with the rising cost of food. THE CANADIAN PRESS/Jason Franson
Canadian restaurateurs grapple with rising food costs, menu prices expected to rise

Restaurants are a low margin industry, so there’s not a lot of room to work in additional costs

RCMP crest. (Black Press Media files)
Fort St. John man arrested after allegedly inviting sexual touching from children

Two children reported the incident to a trusted adult right away

Barbara Violo, pharmacist and owner of The Junction Chemist Pharmacy, draws up a dose behind vials of both Pfizer-BioNTech and Oxford-AstraZeneca COVID-19 vaccines on the counter, in Toronto, Friday, June 18, 2021. An independent vaccine tracker website founded by a University of Saskatchewan student says just over 20 per cent of eligible Canadians — those 12 years old and above — are now fully vaccinated. THE CANADIAN PRESS/Nathan Denette
At least 20% of eligible Canadians fully vaccinated, 75% with one dose: data

Earlier projections for reopening at this milestone didn’t include Delta variant

This undated file photo provided by Ernie Carswell & Partners shows the home featured in the opening and closing scenes of The Brady Bunch in Los Angeles. Do you know the occupation of Mike Brady, the father in this show about a blended family? (Anthony Barcelo/Ernie Carswell & Partners via AP, File)
QUIZ: A celebration of dad on Father’s Day

How much do you know about famous fathers?

Emily Steele holds up a collage of her son, 16-year-old Elijah-Iain Beauregard who was stabbed and killed in June 2019, outside of Kelowna Law Courts on June 18. (Aaron Hemens/Capital News)
Kelowna woman who fatally stabbed teen facing up to 1.5 years of jail time

Her jail sentence would be followed by an additional one to 1.5 years of supervision

Cpl. Scott MacLeod and Police Service Dog Jago. Jago was killed in the line of duty on Thursday, June 17. (RCMP)
Abbotsford police, RCMP grieve 4-year-old service dog killed in line of duty

Jago killed by armed suspect during ‘high-risk’ incident in Alberta

Most Read