2016 BC Property Assessment

MATH, PEOPLE!!!!

A jump from 1M to 4.5M is 450% … not 45%

350% is the amount of the jump. Duncan had it right before he gave up.

ouch, that's gonna leave a mark.

350% is the amount of the jump. Duncan had it right before he gave up.

Math really is hard.

1M x 4.5 is 4.5M

1M x 3.5 is 3.5M

Math really is hard.

1M x 4.5 is 4.5M

1M x 3.5 is 3.5M

lol - nope.

4.5M is 450% more than 1M, but it is not a 450% increase from 1M to 4.5M
the fault is not in the math for most people but in the language used to define the equation.

so if we say a price has increased by 50%, to figure out what the price is after the increase you don't simply multiply the price by the increase percentage. if you do that this is what happens:

1M x 50% = 0.5M

and this is clearly not a 50% increase.

in order to find out the price after the increase you need to do two operations. the first is to find out the amount the price will increase by and the second is to add that increase amount to the original amount to get the new price.

increase amount = 1M x 50% = 0.5M
new price = 1M + 0.5M = 1.5M
or in one operation: 1M + (1M x 50%) = 1.5M

so in the case of the property in question:

1M + (1M x 350%) = 1M + 3.5M = 4.5M

lol - nope.

4.5M is 450% more than 1M, but it is not a 450% increase from 1M to 4.5M
the fault is not in the math for most people but in the language used to define the equation.

so if we say a price has increased by 50%, to figure out what the price is after the increase you don't simply multiply the price by the increase percentage. if you do that this is what happens:

1M x 50% = 0.5M

and this is clearly not a 50% increase.

in order to find out the price after the increase you need to do two operations. the first is to find out the amount the price will increase by and the second is to add that increase amount to the original amount to get the new price.

increase amount = 1M x 50% = 0.5M
new price = 1M + 0.5M = 1.5M
or in one operation: 1M + (1M x 50%) = 1.5M

so in the case of the property in question:

1M + (1M x 350%) = 1M + 3.5M = 4.5M

BAM!!! drops the mic and walks of stage :)

Lol. Damn trick questions!

Better to stay quiet and look stupid than to speak up and remove all doubt.

http://www.skillsyouneed.com/num/percent-change.html

So if you had a property initially valued at 1.0M and it had a huge conveyor belt and your neighbor had a plane…

all I hope is one day this market get realistic for the area and what the dwelling is on the property , one place I was checking out locally has a assessed value of $418K and is currently listed for $689K ,

I'm up 24% this year, but no amount of appealing will get my homeowner's rebate back. I bought a place 5 years ago that was under the line for full rebate, after a year it went up and I only got partial rebate. Since then, no rebate for me!

all I hope is one day this market get realistic for the area and what the dwelling is on the property

If only wages would go up, prices would go down, and no one but Vancouverites were allowed to buy here. Since none of those are likely to happen anytime soon, then this "realistic market" you seek is the one before you now. Sucks, but we have to deal with it.

I'm up 24% this year, but no amount of appealing will get my homeowner's rebate back. I bought a place 5 years ago that was under the line for full rebate, after a year it went up and I only got partial rebate. Since then, no rebate for me!

They must have seen the fancy Charge port on the side of the house!

So if you had a property initially valued at 1.0M and it had a huge conveyor belt and your neighbor had a plane…

…and then Gooch came over, would it take off?

Just announced on Global news… threshold for the homeowner grant is up to $1.6M. :fruit:

we must be close to an election, I just know it. I knew Christy would save you Ken.