Stagnant Market Still Produces Multiple Offers

The number of sales and new listings were close to the same in March over February. The only growth was in the 10% increase in the number of new listings. One might say a stagnant market, but when a special property is listed, all bets are off and a multiple-offer situation is anticipated.

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How are Whistler Property Taxes Calculated?

The Resort Municipality of Whistler’s annual property taxes will be noted on the listing data for each property. These taxes will probably increase every year based on the Resort Municipality of Whistler (RMOW) budget increases. The BC Assessment occurs annually and the owner is notified in early January of any increase and decrease in the assessed value of their property. The value is based on the sales in the area in the previous year. Click the link for more insight into BC Assessment.

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Change in the Use of Your Property May Trigger GST

From the Government of Canada’s website, “Changes in the Use of Your Property: When there is a change in use of a property you have, you may be considered to have sold all or part of your property even though you did not actually sell it. The following are some sample situations:

• “You change all or part of your principal residence to a rental or business operation
• “You change your rental or business operation to a principal residence

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What are Tourism Whistler (TW) Fees?

If you own a property located in the Benchlands, Whistler Village, or the Whistler Mountain base at Creekside, you will notice on the listing data sheet there are TW fees. To categorize these properties, we say that they are “on Resort Land”. This terminology does not relate to First Nations or Aboriginal Lands. It was a term created by the council of the day back in the eighties and has stuck.

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The Purpose of BC Assessment

BC Assessment’s business is to provide a stable and predictable base for real property taxation in British Columbia. The corporation determines ownership and tax liability and classifies and values each property in British Columbia. In other words, the BC Government is legally required to know the value of all the properties within the Province. However, it does not directly affect your property taxes.

How Are Properties Assessed?

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