Special brew
Every craft beer made here has its own story Page A3
NEWS: Heavy rains no problem for work crews /A4 SPORTS: Cougars renew rivalry with Islanders /A10 ARTS: Play tackles mental health issues /A11
VICTORIANEWS Proudly serving Esquimalt & Victoria
Wednesday, January 7, 2015
WING’S RESTAURANT
Chinese Cuisine Take Out, Eat In, and Delivery Open from 11 am - 10 pm Daily 90 Gorge Rd. W
250-385-5564 www.vicnews.com
She’s got the rhythm Jinayah Nelson, 11, pictured at Esquimalt Lagoon, is excited that her Victoria Rhythmic Gymnastics team has qualified for the World Gymnaestrada 2015, to be held in Helsinki, Finland next July. The athletes and other volunteers are in fundraising mode for the trip. See story page A10. Arnold Lim/Black Press
Victoria assessments increase by two per cent Assessed value of Victoria home jumped by 1.9 percent, while Esquimalt’s rate set at 1.6 percent
Kevin Laird Victoria News
With the economy improving, it’s no surprise for Greater Victoria to see its 2014 property assessments rebound slightly. Overall, the Capital Region’s assessment roll increased slightly to $90.5 billion this year from $88.8 billion. A total of almost $1 billion of the $90.5 billion includes value attributable
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to subdivisions, rezoning and new construction. On average, the assessed value of single homes within the City of Victoria increased by 1.9 per cent, according to B.C. Assessment valuations released Friday, to hit $536,000 from $526,00 a year ago. Similar valuations were recorded in Esquimalt where assessed residential properties jumped by 1.6 per cent to an aver-
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age value of $499,000 from $491,000 a year ago. Non-residential properties increased in value by two to six percent across the region. Property assessments are in the mail for 1.97 million British Columbia property owners (about 139,000 in Greater Victoria). “What we’re finding in Greater Victoria – specifically Victoria – is a mod-
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erate increase across the board,” said Reuben Danakody, B.C. Assessment assessor for the Capital Region. “What the marketplace is telling us is if a property is priced right and it’s the right product then houses are [selling] quite well. There is still some good, strong demand for Victoria.” Victoria Real Estate Board president Guy Cro-
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zier said there are so many factors that contribute to a home’s purchase price that a two to six percent increase in assessed value is unlikely to impact price at all. He heard of one Victoria resident who saw an increase of 30 per cent on her assessment. PlEASE SEE: Property assessments, Page A2
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