The number of Castlegar property owners seeking to have their properties reassessed more than doubled this year compared to last, city council has heard.
Deputy assessor Ramaish Shah told council that there were 64 appeals this, up from 31 in 2021 and 20 in 2020. He attributed it in large part to the 19 per cent increase the city saw in overall assessment since last year. He was not sure, however, what the outcome of those appeals was.
Shah said the appeals represented 1.7 per cent of the 3,775 properties in Castlegar, which is not unusual.
He says most people who appeal feel that their properties have been assessed too high, although a few might feel they are too low, and some are trying to change their property classifications.
The total value of the assessed Castlegar properties is $1.94 billion, of which 72 per cent is residential. That includes $14.67 million in new construction since 2021.
The average single family home in Castlegar was assessed at $582,639 in 2022, compared to $261,670 in 2010. Most homes are in the $200,000 to $800,000 range, Shah said. The average home in the Kootenays is assessed at $514,000.
