Homeowners across the West Shore can expect the value of their properties to drop.

The City of Langford, City of Colwood, the Town of View Royal, the District of Metchosin and the District of Highlands will all see their property values dip, according to BC Assessment.

Highlands can expect the most significant drop, with house values falling four per cent, with the typical assessed value dropping from $1,325,00 to $1,267,000.

The City of Langford and the City of Colwood will see a three-per-cent drop, with assessed values falling from $991,000 to $963,000 for Langford and $1,021,000 to $994,000 for Colwood.

The Town of View Royal will see a two-per-cent decrease, with values dipping from $1,276,000 to $1,263,000, and the District of Metchoisin will be the least affected by the new assessments and see a one-per-cent drop, with values going from $1,132,000 to $1,113,000.

Property owners can expect to receive their assessment notices over the next few days. Overall, assessed values on Vancouver Island increased from $385 billion to $386 billion.

Overall, B.C. had an increase of three per cent with an assessment value of $2.79 trillion, with a total number of 2,184,692 on the roll.

BC AssessmentB次元官网网址檚 assessment roll is the foundation for local and provincial authorities to raise $10 billion in annual property taxes. This revenue funds community services and the K-12 education system.

Homeowners unhappy with the assessments can submit a Notice of Complaint by Jan. 31 to have an independent review by the property assessment review panel, said Butterfield.

Even though property prices are due to fall, it does not automatically affect the property taxes people will pay, said Butterfield.

B次元官网网址淚t is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,B次元官网网址� explains Butterfield. B次元官网网址淎s indicated on your assessment notice, how your assessment changes relative to the average change in your community may affect your property taxes.B次元官网网址�

Property owners who wish to do their own assessment on their property can visit BCassessment.ca.