2009 BC Land Assessments
Landcor Data Corporation Responds to the 2009 BC Assessment Freeze Announcement
NEW WESTMINSTER, BC, Nov. 7 The Government of British Columbia announced on November 1st, 2008 that the BC Assessment Authority will not be issuing new property tax assessments for 2009, but will lock in the 2008 assessed values. In this effort to "avoid confusion, anxiety and unnecessary assessment appeals" many lenders, legal professionals and homeowners find themselves wondering what measures to use next year when valuing properties.
Though Landcor Data Corporation utilizes the BC Assessment property roll as the data source for many of its products, their flag-ship product, the Property Valuator does not rely on assessed value to produce a market value estimate. Landcor uses an appraisal based methodology that incorporates more than 30 property characteristics to identify recently sold comparable properties used to calculate current market value. Rest assured the accuracy of the Landcor Property Valuator will not be compromised by this latest BC Assessment announcement.
In fact, the Property Valuator will be one of the few accurate and cost-effective methods of obtaining the current market value of a property in BC this coming year. As many lenders and legal professionals rely on property assessments in low risk property valuation scenarios, Landcor's Property Valuator will serve as an alternative report without delaying transaction times or incurring substantial cost increases.
Landcor is also looking to release an alternative product to fill the property assessment void in 2009 that will be made available at a lower cost than the Property Valuator. Stay tuned for more information regarding this new and innovative product in the months ahead.
About Landcor
Landcor Data Corporation is BC's premier real estate data and analysis provider, serving lenders, legal professionals, real estate professionals and consumers since 2001. Working closely with the BC Assessment Authority to leverage government issued information to help businesses and consumers make informed real estate decisions and mitigate risk, Landcor Data Corporation relies on registered sales data from BC Land Titles and Survey Authority. This data is complete and final and does not utilize pending sales agreement information made available through Realtors.
NEW WESTMINSTER, BC, Nov. 7 The Government of British Columbia announced on November 1st, 2008 that the BC Assessment Authority will not be issuing new property tax assessments for 2009, but will lock in the 2008 assessed values. In this effort to "avoid confusion, anxiety and unnecessary assessment appeals" many lenders, legal professionals and homeowners find themselves wondering what measures to use next year when valuing properties.
Though Landcor Data Corporation utilizes the BC Assessment property roll as the data source for many of its products, their flag-ship product, the Property Valuator does not rely on assessed value to produce a market value estimate. Landcor uses an appraisal based methodology that incorporates more than 30 property characteristics to identify recently sold comparable properties used to calculate current market value. Rest assured the accuracy of the Landcor Property Valuator will not be compromised by this latest BC Assessment announcement.
In fact, the Property Valuator will be one of the few accurate and cost-effective methods of obtaining the current market value of a property in BC this coming year. As many lenders and legal professionals rely on property assessments in low risk property valuation scenarios, Landcor's Property Valuator will serve as an alternative report without delaying transaction times or incurring substantial cost increases.
Landcor is also looking to release an alternative product to fill the property assessment void in 2009 that will be made available at a lower cost than the Property Valuator. Stay tuned for more information regarding this new and innovative product in the months ahead.
About Landcor
Landcor Data Corporation is BC's premier real estate data and analysis provider, serving lenders, legal professionals, real estate professionals and consumers since 2001. Working closely with the BC Assessment Authority to leverage government issued information to help businesses and consumers make informed real estate decisions and mitigate risk, Landcor Data Corporation relies on registered sales data from BC Land Titles and Survey Authority. This data is complete and final and does not utilize pending sales agreement information made available through Realtors.
