Residential property assessments shoot up by 30-50 per cent for Lower Mainland

Single family homes in Vancouver, the North Shore, Squamish, Burnaby, Richmond, Surrey and the Tri-Cities spiked this year

Assessments for Greater Vancouver homes have risen by 30-50 per cent.

Residential home owners across the Lower Mainland could see up to a 50 per cent spike in property assessments, according to numbers released by B.C. Assessment.

“Increases of 30 to 50 per cent will be typical for single-family homes in Vancouver, North Shore, Squamish, Burnaby, Tri-Cities, Richmond and Surrey,” said assessor Jason Grant, noting that assessments don’t directly translate to property taxes.

Typical multifamily residential increases will be in the 15 to 30 per cent range.

Commercial and industrial properties throughout the Greater Vancouver area will see significant but smaller increases in the 10 to 30 per cent range, with properties being purchased for eventual redevelopment often exceeding these ranges.

@katslepian

katya.slepian@bpdigital.ca

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

Say ‘Hi’ to the mountains (and rain): The smoke is gone from the Fraser Valley, for now

Saturday’s Fraser Valley air quality forecast at ‘moderate risk,’ but morning showers leave skies clear

Chilliwack Agriculture Tour goes virtual during pandemic

Rather than bus tourists to local farms, tour stops will be posted on Facebook and Instagram

City of Chilliwack holding annual Hazardous Waste Day in early October

The one-day event is a chance to get rid of household things like pesticides and paint cans

Child sex offender relocated from Princeton after newspaper reveals his proximity to school

Offender convicted in 2019 of charges related to sex assault and child pornography

CHARTS: Beyond Metro Vancouver, COVID-19 cases in B.C. haven’t increased much recently

COVID-19 case counts outside of Metro Vancouver have been level since July

3 new deaths due to COVID-19 in B.C., 139 new cases

B.C. confirms 40 ‘historic cases,’ as well

Supreme Court Justice Ruth Bader Ginsburg dies at 87

The court’s second female justice, died Friday at her home in Washington

Emaciated grizzly found dead on central B.C. coast as low salmon count sparks concern

Grizzly was found on Gwa’sala-‘Nakwaxda’xw territory in Smith Inlet, 60K north of Port Hardy

VIDEO: B.C. to launch mouth-rinse COVID-19 test for kids

Test involves swishing and gargling saline in mouth and no deep-nasal swab

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C. teachers file Labour Relations Board application over COVID-19 classroom concerns

The application comes as B.C.’s second week of the new school year comes to a close

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

70-year-old punched in the head in dispute over disability parking space in Nanaimo

Senior’s turban knocked off in incident at mall parking lot

Machine pistol among 14 firearms seized from Alaska man at B.C. border crossing

Corey Scott Kettering faces charges of smuggling and prohibited firearm possession

Most Read