Letters to the Editor

Parkland has more than just a dollar value

To the Editor,

Re: Parkland bought without public process, May 20.

Perhaps Nanaimo and Area Land Trust’s past experience with the initial purchase of land in the Linley Valley may be helpful regarding the difference between the assessment of properties in the Linley Valley and the price paid by the City of Nanaimo.

It is important to keep in mind the difference between the assessed value versus the appraised value of property. With the Linley Valley Cottle Lake Park property, the assessed value for taxes was approximately $500,000, while the appraised value was slightly more than $2,000,000. Not surprisingly, in that transaction the purchase price was more than four times the assessed value.

The appraised value is determined when a professional, certified appraiser compares a property with similar properties in the area, factors in specific features of the property and arrives at an appraisal of fair market value for the property. This is often considerably higher than the property tax assessment.

When you also take into account the green legacy these purchases will be to our city now and in the future, the merit of purchasing these properties is invaluable.

Dean Gaudry
NALT chairman

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Hunters protest shift favouring non-residents
 
Lava slows but still on track to hit Hawaii market
 
B.C.-only wines to come to some grocery stores
‘Logically’ if Baybrook goes, so should Filberg
 
Local chef competes on Chopped Canada
 
Family of hit-and-run victim makes emotional public appeal w/video
Vic High edges Reynolds in junior boys hoop action
 
Songs for Christmas
 
Virk shuffled to new job after Kwantlen flap

Community Events, December 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Dec 18 edition online now. Browse the archives.