B.C. housing market shows signs of moderation: assessment agency

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year

Assessed values of some single family homes in Metro Vancouver’s once red hot housing market dropped between five and 10 per cent in the latest assessments used to determine property taxes in British Columbia.

Meanwhile, BC Assessment says some property owners in the rest of the province have seen five to 15 per cent increases in their property values.

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year.

Commercial and industrial properties saw an increase of between 10 and 20 per cent across most of the province, with some markets around Metro Vancouver increasing up to 30 per cent.

BC Assessment collects, monitors and analyzes property data.

Its assessments are based on the estimate of a property’s market value on July 1 of each year and its physical condition on Oct. 31.

Deputy assessor Keith MacLean-Talbot says increases in property assessments do not automatically translate into a corresponding increase in property taxes.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sprinkler system extinguishes fire in industrial building in Chilliwack

Progress Way building had only minor fire, smoke and water damage thanks to sprinkler system

UPDATE: Suspect who once killed a man in jail was arrested in Chilliwack after truck fire

Jordan Cole Burt was taken into RCMP custody while wanted on an outstanding warrant

Two Abbotsford elementary schools record COVID-19 exposures, according to Fraser Health

‘Exposures’ defined as 1 positive case at school, ‘clusters’ as 2 or more, ‘outbreaks’ as widespread

UPDATE: Fatal collision Sunday leaves Chilliwack father and five children with minor injuries

Driver who T-boned family after running stop sign on McGuire Road died at the scene

Irish folk supergroup Kíla set to perform on Saturday

Online concert will be available through Harrison Festival Society

B.C. reports 96 new COVID-19 cases, one hospital outbreak

61 people in hospital as summer ends with election

‘Unprecedented’ coalition demands end to B.C. salmon farms

First Nations, commercial fishermen among group calling for action on Cohen recommendations

Earthquake off coast of Washington recorded at 4.1 magnitude

The quake was recorded at a depth of 10 kilometres

B.C.’s top doctor says she’s received abuse, death threats during COVID-19 response

Henry has become a national figure during her time leading B.C.’s response to the COVID-19 pandemic

BC Liberals must change gears from election cynicism, focus on the issues: UBC professors

COVID-19 response and recovery is likely to dominate platforms

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

B.C. could be without a new leader for multiple weeks after Election Day: officials

More than 20K mail-in voting packages were requested within a day of B.C. election being called

Dozens of Canadian venues to light up red in support of entertainment workers

Local facilities among dozens across Canada to participate in Light Up Live

Most Read