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

Corruption no longer dogs Yale First Nation

A return to traditional governance helps to turn the tide

Emil Anderson earns multiple provincial contractor awards

Family-run companies with a long history in the FV were recognized for excellence in grading and community service

#MeToo at work: How reporting sexual harassment works – and how it doesn’t

British Columbians have four options to report harassment or assault, but none of them are easy

Chilliwack-Hope MP gives a pre-Christmas ribbing in rhyme in Parliament

Conservative Mark Strahl gets his poem in before Liberal Rodger Cuzner rises to do same

#MeToo at work: B.C. women share horrifyingly common sexual assaults

It happens to more people than you might think and impacts women inside and outside of the workplace

Homes in Hope sparkling for the holidays: Part 1

Hope photographer Ray Daws shares some festive sights

Court denies WestJet’s bid to toss out discrimination lawsuit of former worker

Mandalena Lewis is suing WestJet over allegations of gender-based discrimination

VIDEO: 3 months later, rescued sea lion released back into ocean

The young animal was found in Campbell River three months ago

Sagmoen neighbours recall alleged hammer attack

Woman was screaming outside Maple Ridge townhouse in 2013

UPDATED: Train collides with car in Maple Ridge

Mother and child both uninjured, track cleared at 11 a.m.

Accused B.C. drug smuggler to be extradited

Supreme Court of Canada upholds extradition order for accused Shuswap drug smuggler, Colin Martin

One convicted, two cleared in 2014 deaths of men in B.C.’s Cariboo

Andrew Jongbloets convicted of manslaughter in deaths of Matthew Hennigar, 23 and Kalvin Andy, 22

VIDEO: Pedestrian struck by vehicle caught on security camera

Incident points to danger on the roads not only in low light but also in bright sunshine

AHUS patient Shantee Anaquod is home for Christmas

Less than a month after receiving first dose of $750K drug, 23 year old healthy enough to go home

Most Read