Whistler and Pemberton Assessed Values
The assessed values of retail and industrial properties have increased significantly. On average those increases were:
|Pemberton Industrial Land||39%|
|Whistler Industrial Land||220%|
|Whistler Retail Strata||40%|
Whistler Strata increases go anywhere from 20 – 70 %
Are these increases justified?
There are limited sales, and most sales occurred before interest rates rose. The valuation date is July 1st, 2022. Rates rose by 2% from April 2022. This increases occupancy and development costs, and should have an effect on value.
If BCA has not adjusted sales for sale date, location, condition, or size, then the assessed values could be wrong.
Peter Austin, a veteran tax consultant of 40 years, who successfully convinced BCA in 2020 that values in the Pemberton Industrial Park were too high, is assembling a group of owners in each of the above areas to challenge the assessments. The benefit of a group is the ability to reduce the cost of appeal per property substantially.
Once a large enough group is created and fees agreed, Peter’s company will conduct a detailed analysis of each market and determine whether there are grounds for an appeal.
If you are interested please email Peter at email@example.com or call 604-733-3282. You can also visit his website www.austinrealestateconsultants.ca.
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