Andrew, there is some chatter in College Heights about the valuations of homes with preserved wood foundations having had a major change in classification. Apparently they are no longer valued lower for this type of foundation as they have been since whenever they came about, and now are classed the same as homes with concrete basements. This has caused their assessment values to jump up as they are now valued on the same basis. Traditionally homes with these basements have usually sold for less and their owners are very concerned about the change.
These wood foundations apparently do require re-certification periodically as they are subject to degrading in certain circumstances. They were used in the 1970-80s in a number of subdivisions during the rush to build as the population rose during the big years of the saw and pulp mills.
I did notice in the recent valuations on the BC Assessment website that new language was being used to describe the home classification categories. There was no notice of this change in any way.
I am not affected by this, but the change without consultation or notice seems curious at best and highly frustrating to people who are facing higher taxes for a property that will potentially never achieve a sale price that is equal to one that has the higher-valued foundation system.
Thanks for this overview of recent news, Andrew!!
For fellow readers: here's a link to a story about Trelle Morrow (as the embedded one goes to the story about the beautiful Cougars jerseys): https://www.princegeorgecitizen.com/local-news/renowned-prince-george-architect-historian-has-died-8074021
I noticed on Facebook a number of family groups of up to 23 enjoying the reopened Bowling Alley on Third Avenue .
Andrew, there is some chatter in College Heights about the valuations of homes with preserved wood foundations having had a major change in classification. Apparently they are no longer valued lower for this type of foundation as they have been since whenever they came about, and now are classed the same as homes with concrete basements. This has caused their assessment values to jump up as they are now valued on the same basis. Traditionally homes with these basements have usually sold for less and their owners are very concerned about the change.
These wood foundations apparently do require re-certification periodically as they are subject to degrading in certain circumstances. They were used in the 1970-80s in a number of subdivisions during the rush to build as the population rose during the big years of the saw and pulp mills.
I did notice in the recent valuations on the BC Assessment website that new language was being used to describe the home classification categories. There was no notice of this change in any way.
I am not affected by this, but the change without consultation or notice seems curious at best and highly frustrating to people who are facing higher taxes for a property that will potentially never achieve a sale price that is equal to one that has the higher-valued foundation system.