Property Assessment Notices Sent to Propert Owners in The Resort Municipality of Whistler and the Village of Pemberton

January 2, 2007

BC Assessment

More than 14,300 property owners in the Resort Municipality of Whistler and over 1,200 property owners in the Village of Pemberton can expect to receive their 2007 assessment notice in the coming days.

Assessments are the estimate of a property’s market value as of July 1, 2006. This common valuation date ensures that all properties are assessed fairly and there is an equitable base for property taxation.

The real estate market creates property value, which is reported annually by BC Assessment. Local governments and other taxing authorities are responsible for property taxation, and after determining their own budget needs this spring, will determine their property tax rates based on BC Assessment’s data. Note: Property owners should contact their local government, or taxing authority, for more information about their property taxes.

“Many homes on this year’s assessment rolls are worth slightly less than they were on the 2006 assessment roll,” said Area Assessor Jason Grant

Changes in property assessments are reflective of movement in the local real estate market and can vary greatly from property to property. When estimating a property’s market value, a professional appraiser analyzes current sales in the area, as well as considering other characteristics such as size, age, quality, condition, view and location.

Overall, the Resort Municipality of Whistler’s assessment roll increased from $10.03 billion last year to $10.12 billion this year. These figures reflect changing market values for many properties but also include approximately $112.3 million of subdivisions, rezoning and new construction.

Overall, the Village of Pemberton’s assessment roll increased from $410 million last year to $416 million this year. These figures reflect changing market values for many properties but also includes approximately $8.6 million of subdivisions, rezoning and new construction.

The examples below demonstrate local market trends for properties by a geographic area; trends are affected by many variables.

|Sample Assessments for the RMOW|2006 Assessment Valuation Date|2007 Assessment Valuation Date| ||July 1, 2005|July 1, 2006| |Creekside – Single Family Dwelling|$921,000|$882,500| |Whistler Cay Heights – Single Family Dwelling|$2,354,000|$2,332,000| |White Gold – Single Family Dwelling|$869,000|$$854,000| |Alpine Meadows – Single Family Dwelling|$1,014,000|$983,000| |Whistler Highlands – 3 Bedroom Townhouse|$502,800|$503,000| |Village – 2 Bedroom Apartment|$620,000|$594,000| |Village – 1 Bedroom Apartment|$287,400|$284,700| |Assessment for the Village of Pemberton||| |Pemberton – Single Family Dwelling|$430,000|$391,500| |Pemberton – 2 Bedroom Townhouse|$279,800|$278,200|

“Property owners who feel that their property assessment does not reflect market value as of July 1, 2006, or see incorrect information on their notice, should contact the BC Assessment office indicated on their notice as soon as possible in January,” said Grant.

“If a property owner is still concerned about their assessment after speaking to one of our professional staff may submit a written request by January 31, for an independent review by a Property Assessment Review Panel.” The panels, independent of BC Assessment, are appointed annually by the Ministry of Small Business and Revenue, and meet between February 1, and March 15 to hear formal complaints.

Assessments and Sales by Address is available for residential property owners to further assist them in understanding their property’s market value. New for this year are some added Sales by Address; market value sales that occurred between January 1 to October 31, 2006. This service is available on BC Assessment’s web site at bcassessment.ca from January 2, to March 15. Paper copies of Assessments by Address are also available at local area offices and most municipal halls, libraries and government agent’s offices across the province.

The Vancouver Sea to Sky Assessment Office is located at 200-1818 Cornwall Ave, Vancouver. During the month of January, office hours are 8:30 a.m. to 5:00 p.m. Monday to Friday.