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OPINION: B.C. Realtor’s explanation how property assessment increases do not affect taxes

Because it’s important, a 2nd look at Kevin Schroeder’s Instagram video on how property taxes work
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Still from Chilliwack Realtor Kevin Schroeder’s January 2022 Instagram video where he explains how BC Assessment increases in property value have no impact on property taxes. (Instagram @kevinschroederrealtor)

“I just looked at my property assessment and it went way up, way more than what I think selling cost is,” someone wrote on a Facebook group this week. “So I assume taxes will jump again.”

And someone else:

“No way my house increased in value by $70,000 in the last year. This is a flat-out tax grab.”

No. And no.

Every year when assessments come out, some people complain about how it’s not fair they will have to pay more property taxes.

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