2018 CITY OF PRINCE GEORGEFINANCE & AUDIT COMMITTEE PRESENTATION

GEOFF RADTKE, DEPUTY ASSESSOR

ERIN SMITH, SENIOR APPRAISER (ACTING)

March 5, 2018

BC ASSESSMENT

Presentation Overview

THIS IS A SUMMARY OF THE 2018 ASSESSMENT ROLL WITH A FOCUS ON:

1. 2018 COMPLETED ROLL OUTCOMES

VALUE DISTRIBUTION

2. NON MARKET CHANGE

SUMMARY BY PROPERTY CLASS

3. RISK TO ROLL

2017 PROPERTY ASSESSMENT APPEAL BOARD (PAAB) OUTSTANDING COMPLAINTS; ANTICIPATED 2018 PAAB

BC ASSESSMENT 19 February 2018 2

2018 Completed Roll Outcomes

586

261

98

542

266

159

0 100 200 300 400 500 600 700

Total PARP Amendments - PrinceGeorge

Total PARP Public Appeals - PrinceGeorge

Agent PARP Appeals - Prince George

2017 Roll

2018 Roll (ToDate)

•

•

BC ASSESSMENT 19 February 201B 3

2018 Completed Roll Outcomes 4.5% OF THE PROPERTIES IN PRINCE

GEORGE HAD THE SAME ACTUAL

VALUE AS LAST YEAR

8.8% OF THE PROPERTIES IN PRINCE

GEORGE HAD A LOWER ACTUAL VALUE

THAN 2017

86.7% OF THE PROPERTIES IN PRINCE

GEORGE HAD A HIGHER ACTUAL VALUE

THAN 2017

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BC AS,SES,SMENT ~ ·ww1t1.bcasse.ssment.ca

Arnia: 26 - Prince George Jurisdiction: 226 - Cil.v of Prince Georcie

I Property Class

01 Resicl.ential

02 Utilities

03 Supportive· Housing

04 Major Industry

05 Li9ht lndlust,ry

06 Bus1iness And Other

08 Rec /Non Profit

09 farrm

S.64-4LGAJ398VC

TOTALS

BC ASSESSMENT

Com pa1rison by Prope1rty ,class 2018 Completed Roll run on 07/Dec/2017 2017 Revised Roll run on 181Mart2017

ACTUAL VALUES

2 017 Revised I Change

2018 Completed Amount

7,1 00,575,041 7, 596,428,.SO 1 495,853,760

14-4,950,773 146,771 ,637 11,820,864

40 40

28'9 ,912,400 290,896,400 984,000

104,669, 100 113,073,.SOO 8,404,700

2,901,551,660 J.,057,687,500 156,135,840

rno ,648,500 157,397,300 -3,251,200

998,50(1 1,007,033 8,533

16', 703,306,IM ,4 111,363 ,262,511 6591,956,4,97

Change %

6_98%

1-26%

(134%

8_03%

5_38%

-2-02%

0_85%

6.17%

BC ,ASSES,SMENT ,-o1 ·www.bcas-sessment.ca-

Are-a: 26 - Prince George Jurisdictiorn : 22:6 - Citv of Prince Georae

I Property Class

01 Residential

02 Utilities

03 Supportive Housing

04 Major Industry

05 Li9ht Industry

06 Business And Other

OB RedNon Profit

09 Farm

S.644LGAJ39BVC

TOTALS

BC ASSESSMENT

2017 Re\llised I 6,942,255,641

34,338,933

2

258,919,300

98,036,200

1,681 ,815,510

6,520,5,0,0

997,8,06

49,745,6,0,0

9,072,629,492

Comparison by Piroperty Class 21)18 Completed Roi I run on 07 /0ec/2 017 21)17 Revised Ro II run on 18/Mar/2017

GENERAL VALUES

2018 Completed Change I Amount

7,398,950, 1 01 456,694,460

34,224, 762 -11 4,1171

2

260,160,300 1,241 ,000

106,122,900 8,086,700

1,758,393,950 76,578,440

6,726,000 205,500

11,006, 588 8,782

49,490,700 -254,900

9,,6,15,075,303 542,-445,.811

Change %

6.58%

-0.33%

0.48%

8.25%

4.55%

3.15%

0.88%

-0.51%

5.9,8%

10 Year Comparison Net General

$0

$1,000,000,000

$2,000,000,000

$3,000,000,000

$4,000,000,000

$5,000,000,000

$6,000,000,000

$7,000,000,000

$8,000,000,000

$9,000,000,000

$10,000,000,000

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

City of Prince George - Net General Roll Total - 10 Year Trend

BC ASSESSMENT

Non Market Change

NON MARKET CHANGE (NMC)

INCLUDES VALUE AND TAXABILITY

CHANGES DUE TO ZONING,

CLASSIFICATION, PHYSICAL CHANGE -

ADDITIONS/DELETIONS, EXEMPTION,

NEW DEVELOPMENTS

SEE THE FOLLOWING SLIDE FOR THE

NMC REPORTED ON THE COMPLETED

ROLL

BC ASSESSMENT

5 year comparison NMC

$0

$50,000,000

$100,000,000

$150,000,000

$200,000,000

$250,000,000

$300,000,000

$350,000,000

2014 2015 2016 2017 2018

BC ASSESSMENT

Property Class Distribution

PROPERTY CLASS NUMBER OF PROPERTIES TOTAL VALUE

01 - RESIDENTIAL 28,734 $7,596,428,801

02 - UTILITIES 122 $146,771,637

03 - SUPPORTIVE HOUSING 20 $40

04 - MAJOR INDUSTRY 34 $290,896,400

05 - LIGHT INDUSTRY 88 $113,073,800

06 - BUSINESS AND OTHER 2,023 $3,057,687,500

07 - MANAGED FOREST LAND 0 NIL

08 - RECREATIONAL PROPERTY / NON-PROFIT ORGANIZATION 312 $157,397,300

09 – FARM 125 $1,007,033

S.353LGA/398VC 40 INCLUDED IN UTILITIES

BC ASSESSMENT

Property Class Distribution

PROPERTY CLASS % OF PROPERTIES % OF TOTAL VALUE

01 - RESIDENTIAL 91.22% 66.85%

02 - UTILITIES 0.39% 1.29%

03 - SUPPORTIVE HOUSING 0.01% 0.00%

04 - MAJOR INDUSTRY 0.11% 2.56%

05 - LIGHT INDUSTRY 0.28% 1.00%

06 - BUSINESS AND OTHER 6.42% 26.91%

07 - MANAGED FOREST LAND NIL NIL

08 - RECREATIONAL PROPERTY / NON-PROFIT ORGANIZATION 0.99% 1.39%

09 – FARM 0.40% 0.01%

S.353LGA/398VC 0.13% INCLUDED IN UTILITIES

BC ASSESSMENT

Inquiry and Complaint Process

Inquiry Period - January 1 to 31st

• Deadline for Appeal: Jan 31st

Property Assessment Review Panel - Feb 1 to March 15

Property Assessment Appeal Board - All Year

• Deadline for Appeal: April 30th

BC Supreme Court

BC Court of Appeal

Supreme Court of Canada

I

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Risk to RollACTIVE 2018 ROLL APPEALS TO PARP:

THERE ARE CURRENTLY 542 APPEALS TO PARP FOR THE 2018ROLL. THERE IS STILL A POSSIBILITY THAT LATE APPEALS MAY BE

ADDED. 2018 PARP DECISIONS WILL BE MAILED TO THE

APPELLANTS PRIOR TO APRIL 7TH.

DEADLINE TO APPEAL TO PAAB IS APRIL 30, 2018

IT IS DIFFICULT TO PREDICT THE NUMBER OF 2018 PAAB APPEALS

BECAUSE MANY PROPERTIES HAVE BEEN APPEALED TO PARP BY AGENTS

AS HOLDING APPEALS (I.E. A MEANS OF KEEPING THE APPEAL PROCESS

OPEN WHILE THEY FIND TIME TO REVIEW THE PROPERTY AND ASSESSMENT)

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Risk to Roll THE APPEAL PROCESS FOR PROPERTY ASSESSMENTS IS A 3 LEVEL PROCESS. THE 1ST LEVEL IS

THE PROPERTY ASSESSMENT REVIEW PANEL (PARP), THE 2ND LEVEL IS THE PROPERTY

ASSESSMENT APPEAL BOARD (PAAB), AND THE 3RD LEVEL IS THE SUPREME/APPEAL

COURT SYSTEM THAT IS USED ONLY ON A POINT OF LAW.

OUTSTANDING PAAB APPEALS

2011 – 3 APPEALS

2012 – 4 APPEALS

2013 – 4 APPEALS

2014 – 4 APPEALS

2015 – 5 APPEALS

2016 - 5 APPEALS

2017 – 5 APPEALSBC ASSESSMENT

Risk to Roll – Supplementary Assessments AFTER THE COMPLETION OF THE ASSESSMENT ROLL, THE ASSESSOR MUST ISSUE

SUPPLEMENTARY ASSESSMENTS FOR:

PROPERTIES OR THINGS LIABLE FOR ASSESSMENT THAT HAVE NOT BEEN

ASSESSED OR HAVE BEEN ASSESSED FOR LESS THAN THE AMOUNT FOR

WHICH IT WAS LIABLE TO ASSESSMENT FOR THE CURRENT ROLL; OR

TO CORRECT ERRORS OR OMISSIONS IN THE COMPLETED ASSESSMENT

ROLL

SUPPLEMENTARY ASSESSMENTS ARE ALSO ISSUED TO REFLECT PAAB

DECISIONS. PAAB DECISIONS MAY SPAN MULTIPLE ASSESSMENT ROLL YEARS.

NUMBER OF SUPPLEMENTARY ASSESSMENTS AND THE RESULTING TAXABILITY

IMPACT CAN NOT BE PREDICTED. BC ASSESSMENT

In Comparison – Average SFD by Jurisdiction

* Valuation date of July 1, 2016**Valuation date of July 1, 2017

Community 2017* 2018** Change

Vancouver $2,923,000 $2,924,000 0.03%

Richmond $1,677,000 $1,709,000 1.91%

Surrey $1,075,000 $1,158,000 7.72%

Victoria $747,000 $859,000 14.99%

Kelowna $609,000 $714,000 17.24%

Cranbrook $288,000 $297,000 3.13%

Nanaimo $416,000 $481,000 15.63%

Kamloops $405,000 $440,000 8.64%

Courtenay $385,000 $454,000 17.92%

Terrace $309,000 $305,000 -1.29%

Prince George $287,000 $302,000 5.23%

Dawson Creek $261,000 $267,000 2.30%

Fort St. John $387,000 $369,000 -4.65%

Provincial $892,000 $943,000 5.72%

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81~ 9 ST :JOHN CRES PRINCE GEORGE V2N 4H6 Area-Jurisdktion-Roll: 26-226-90-09538.022

Total Value Assessod as of July 1st. 2017

Land

BuUdings

Land

Buildings

$309,000

SlV,000

5182.000

S298.000

$12.7,000

S171,000

Questions about this property assessn"lent? Visit our Property Assessment FAQ or Contact Us if you have questions

Visit our B C Assess,nent Interactive Market Trend Maps for assessed value changes in your area

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Property lnfonnation

Description

ca,ports

Land Sk.e

First Floor Area

Building S t 0f'&y5

N et Leasabte Area

N o. of Apart.rneot Units

Ar• the property detail s correct? •

1 STV house - standard

C

6534 Sq Ft

1,378

L.egal Description and Parcel 10

Lot 12 Plan PGP25106 District Lot 754 Land District OS

PIO: 003-199-344

No sakH history for the last 3 years

Width

Length

Total Area

bcassessment.ca

Map Neighbowing Properties Sample Sold Properties

I It

"' St JC>h" Pl

.. B v• ,pv:.f' ~-

51 Lawrence sc-Asses.smeot I Bureau ot Land Ma~agement. Esrl, HERE, Gar_

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Map

Area-Jurisdiction-Roll: 26-226-90-09S38.020

Area-Jurisdiction-Roll: 26-226-90-09538.024

.. .... ·,; ·-... ,•·~ , '' . - ~ .....

I " , , , •~

f , ~· '.,.: Area-Jurisdiction-Roll: 26-226-90-09538.086

Neighbouring Properties Sample Sold Properties

8173 ST JOHN CRES PRINCE GEORGE

Total Value

land

Buildings

8147 ST JOHN CRES PRINCE GEORGE

Total Value

Land

Buildings

8160 ST JOHN CRES PRINCE GEORGE

Total Value

land

Buildings

S289.000

$120,000

$169,000

View Details

$333.000

S124,000

5209,000

View Details I

S387.000

$130,000

$257,000

VlewDetalls

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BC ASSESSMENT

Map Neighbouring Properties Sample Sold Properties

Sdmple said pr~rtle-.s are pro~ for Information and as e-.xantpJes only. ,n aSSE55ing ii p;Jrtkular ,,,.-,perry, BC Asse.sSinent t.iJ~.s into

consideration m.Jny facto.rs, and=~ sold praperties a~ nDr nece-.ssarily rhe ume llwt BC Assessment would use a.s 'ccxnparable5' , for exa~ in .an appeal. Sale prices on sample sold properties m.JY need to be time adjusted toref!iN:t clwngfng m.uket conditions betwe~ the safes d ate and the BC Ast.e.s5ment va!Uiltion ddte of July l. Far more fnforrniltion. w$it our FAQs.

Please note tlwt sales tlwt hilve occwred within the /;ut 60 days milY not have been verified by BC Assenment.

Area-J ur isdiction-Rol l< 26-226-90-09538.IOO

Area-Jurisdiction -Roll: 26-226-90-09538.024

Area-J ur isdiction -Roll,

26-226-90-19863, 108

8240 ST JOHN CRES PRINCE GEORGE

Sale P rice

Sa le Date

Assessm ent Va lue

8147 ST X>HN CRES PRINCE GEORGE

Sa le Price

Sale Dat e

Assessm ent Va lue

7719 ST MATHEW PL PRINCE GEORGE

Sale P rice

Sa le Dat e

Assessm ent Va lue

$315,000

29-Sep-2017

$337 .000

VlewDetal ls I

$357,500

24-Aug-2017

5333,000

View Detai ls I

$272,500

28-Sep-2017

$30 4,000

View Detal ls I

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