Assessed values are up 5 percent in Ladysmith (File photo)

Assessed values are up 5 percent in Ladysmith (File photo)

Ladysmith property included in top 100 most valued properties of Vancouver Island

The property was listed number 88 in the 100 top valued residential properties for Vancouver Island

Ladysmith’s most valuable property is a $5.8 million oceanfront acreage at 11800 Elliot Way.

The property was listed as number 88 in the 100 top valued residential properties for Vancouver Island. Last year the property was listed as number 70.

RELATED: Ladysmith area’s most valuable home assessed at nearly $6 million

Owners of more than 374,600 properties throughout Vancouver Island can expect to receive their 2020 assessment notices that reflect market value as of July 1, 2019.

“The market has stabilized in most areas of Vancouver Island this year,” says Vancouver Island Assessor Tina Ireland. “In the south part of Vancouver Island, the majority of residential property values are moving -5% to +5%, while up island the value increases are a little higher. The commercial and industrial markets are generally showing increases over last year’s assessments.”

Assessments on residential single detached homes went from -5 percent to + 15 percent for Central & North Vancouver Island. Residential Strata Units went from -5 percent to +20 percent. Commercial properties went from -5 percent to +25 percent. Light industrial properties went from 0 percent to + 20 percent.

The typical assessed values in Ladysmith have increased from $426,000 to $445,000, an increase of 5 percent. Residents concerned with the assessment of their property can issue a Notice of Complaint to BC Assessment by January 31 for an independent review by a Property Assessment Review Panel.

“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” Ireland said. “As indicated on your Assessment Notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Three Ladysmith Health Care Auxiliary Thrift Store volunteers have tested positive for COVID-19. (Ladysmith Health Care Auxiliary photo)
Three Ladysmith Health Care Auxiliary Thrift Store volunteers test positive for COVID-19

Anyone who volunteered at Thrift Store between Nov. 14 - Nov. 28 is asked to monitor for symptoms

Ben Maartman, left, and Murray McNab are running for regional director for Area H North Oyster-Diamond in a Cowichan Valley Regional District byelection later this month. (Photos submitted)
Preliminary Area H byelection results show Maartman up by seven votes, McNab to ask for recount

Results of the by-election to by finalized by noon on Tuesday, December 1

New crosswalk across Henry Road from the Mount Brenton Golf Course is now in use for golfers. (Photo by Don Bodger)
Awareness required in the initial stages of new signalized crosswalk

Drivers looking at more stops and starts while golfers stick to one crossing point

Nanaimo-North Cowichan MLA Doug Routley was passed up for a cabinet position by Premier John Horgan. (Photo submitted)
Routley left off the list of NDP cabinet ministers again

Premier Horgan opts for some newcomers in key positions over experienced MLA

Environment Canada has issued a special weather statement forecasting windy weather Sunday and Monday. (News Bulletin file photo)
More windy weather on the way for Vancouver Island

Environment Canada issues special weather statement for Victoria, east coast of Island, north Island

A bus shelter in White Rock is emblazoned with an ad from B.C.’s Office of the Human Rights Commissioner on Sunday, Nov. 29, 2020. (Black Press Media files)
VIDEO: ‘Am I racist?’ campaign asks British Columbians to confront their unconscious biases

Signs asking British Columbians to think about racial injustice have been put up across the province

Black Press Media and BraveFace have come together to support children facing life-threatening conditions. Net proceeds from these washable, reusable, three-layer masks go to Make-A-Wish Foundation BC & Yukon.
Put on a BraveFace: Help make children’s wishes come true

Black Press Media, BraveFace host mask fundraiser for Make-A-Wish Foundation

Christy Jordan-Fenton is the co-author of the book Fatty Legs, which has been mentioned amid the controversy of an Abbotsford school assignment on residential schools.
Fatty Legs co-author responds to Abbotsford class assignment on residential schools

Children’s book mentioned amid controversy at W. A. Fraser Middle School

Kootenay East MLA Tom Shypitka takes over as energy and mines critic for the B.C. Liberal opposition. Kelowna-Lake Country MLA Norm Letnick (right) moves from health critic to assistant deputy speaker. (Hansard TV)
B.C. Liberals pick critics to take on Horgan’s NDP majority

Interim leader Shirley Bond takes seniors, long-term care

Left to right: A screenshot of NTC nurse navigator Lesley Cerney, FNHA regional mental health manager Georjeana Paterson and Island Health’s medical health officer Dr. Charmaine Enns addressing Ehattesaht community members from Ehatis reserve in a Facebook live update. (Ehattesaht First Nation/Facebook)
Medical team sent to Ehatis reserve near Zeballos to guide community through COVID outbreak

17 cases, eight recoveries and no hospitalizations as Island Health praises First Nation’s response

Deputy Prime Minister and Minister of Finance Chrystia Freeland listens to a question from a reporter on the phone during a news conference in Ottawa, Monday, Nov. 30, 2020. THE CANADIAN PRESS/Adrian Wyld
Spending too little worse than spending too much, Freeland says as Canada’s deficit tops $381B

‘The risk of providing too little support now outweighs that of providing too much’

Still from a video surveillance camera of a man alleged to have stolen from several people at knife-point in Chilliwack (Rosedale) early on Nov. 28, 2020. (Facebook)
B.C. man defends his family against intruder, saves neighbour while wielding hockey stick

RCMP looking for footage that captures violent crime spree in Chilliwack

Harbour seals rest on log booms at Flavelle Mill in Port Hardy. With recent announcements the mill will be getting rid of the log booms, Dr. David Rosen sees an opportunity to study how the disappearance of this highly-frequented refuge for the seals will alter their behaviour in Burrard Inlet. (Photo supplied by David Rosen)
What the heck is going on with marine mamals in Vancouver waterways?

UBC researcher asks why they’re returning, and what role we’re playing

Jim Neufeld, 55, was last seen leaving his home in Penticton Jan. 21, 2009. (RCMP photo)
Human remains found off U.S. coast in 2009 identified as Penticton man

Jim Neufeld, 55, was last seen leaving his home in Penticton Jan. 21, 2009

Most Read