B.C. city left with $600K budget shortfall after hundreds of property values were reassessed - News Summed Up

B.C. city left with $600K budget shortfall after hundreds of property values were reassessed


Successfully appealing a property assessment can save the owner money — but when too many people do it, the city can take a hit. In Fort St. John, B.C., more than 170 property owners appealed their assessments this year. An unexpected drop in property values, and the lower taxes derived from that, caught the city off guard and left council scrambling to balance the budget. Overall, commercial property values in Fort St. John dropped by 1.9 per cent this year compared to the original assessed value. Assessment about their original assessed values that they've provided to us in January," Joy told CBC's Daybreak North.


Source: CBC News April 11, 2019 18:00 UTC



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