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.

 

Just Posted

Ministry ‘fumbled the ball’ on Station House: Hope mayor

Hope cannot take ownership of project as highway ministry did not consult with First Nations

Fraser Health patients to see 23% more knee, hip replacement surgeries

First-available surgeon approach will reduce waitlists, B.C. health minister says

Council to vote on 2018 budget and five-year financial plan Monday

Budget increases two per cent with paving, Othello road upgrades, finishing wastewater plant planned

In search of treasured metals

John Fair runs a modern day panning school in Hope and Yale

Hope shines at 16-team girls’ tournament

Teams from Kootenays, Vanderhoofe , Pender Harbour in town over weekend

Police release criminal profile of suspect in Burnaby teen’s murder

Marrisa Shen was found dead in a Burnaby park last summer

Jury to deliberate after Cosby painted as predator

A jury of seven men and five women are to decide actor Bill Cosby’s fate

Memorial to victims of Toronto van attack continues to grow

The subway station where a van was used to run down pedestrians has reopened in Toronto

Small aircraft touches down on Calgary street

The twin-engine plane was apparently short on fuel forcing an emergency landing

Person in custody after Mounties closed Port Mann Bridge

Police say they responded to a ‘complaint of a person requiring assistance’

B.C.’s living wage increase curbed due to MSP cuts, child care subsidy: report

Living wage varies between $16.51 in north central B.C. to $20.91 in Metro Vancouver

See what’s up when you borrow a telescope from the library

Fraser Valley Regional Library’s telescope lending program takes off.

Doctor sees healing power in psychedelic plant as Peru investigates death of B.C. man

Peru’s attorney general has ordered the arrest of two suspects in the killing of 41-year-old Sebastian Woodroffe

Toronto police officer ‘gave himself the space and time’ in van attack

Footage shows officer standing up, turning off his siren and talking clearly to the suspect

Most Read