January 17, 2012, Ladysmith Chemainus Chronicle

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Ladysmith Secondary dance showcase P. 14

Tuesday, January 17, 2012

T-Wolves get new shirts P. 6

Ladysmith assessments pretty stable

Endless Romance

Lindsay Chung THE CHRONICLE

Gordon and Ann Melliar have a love and friendship that has spanned five decades and two continents. Read all about it and find out how local residents can share their own stories of love during the Ladysmith Little Theatre’s Valentines Day production on Page 15.

NIOMI PEARSON/ CHRONICLE

Collision Repairs Need a Makeover?

It’s that time of year again when property owners receive their assessment notices — and for 2012, that likely means little change in Ladysmith and the surrounding area. “Most homes in Cowichan Valley will see moderate decreases or little change in value compared to last year’s assessment roll,” said Vancouver Island regional assessor Bill MacGougan. Overall Cowichan Valley’s taxable residential assessment roll is $11,868,483,068 this year. A total of almost $242,000,000 in new residential value has been added due to various changes, including subdivision, rezoning and new construction, according to BC Assessment. In Ladysmith, the residential general overall taxable value in 2011 was $1,037,804,001, and it is essentially unchanged for 2012, as the total residential value is $1,037,759,701, e x p l a i n e d MacGougan. “It’s so close to being no change at all for individual values in Ladysmith,” he said. “You’ll see changes for most properties

you can

of minus-10 per cent to plus-five per cent. The overall assessment is completely stable, but individual property owners will see changes to their assessments either moderately up or moderately down.” The total value of all property classes in Ladysmith in 2012 is $1,130,325,221, up from $1,125,766,282 in 2011. “There are two different types of changes affecting roll value,” said MacGougan. “ T h e r e ’s m a r k e t change — what happened in the market to affect change — and non-market change — new construction, rezoning, subdivision, all these sorts of things that can increase value or create value but are not related to changes in the market.” Within Ladysmith, $21 million in new residential construction added to the roll, according to MacGougan. “Last year, it was close to $27 million, so it’s not much different than last year,” he said. “Most jurisdictions are down more than that in their growth.” MacGougan says this year’s assessments See Deadline Page 3

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