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

New hospice programs aim eyed for at-home patients and caregivers

Abbotsford Hospice Society set to launch day program for people living at home with terminal illness

Abbotsford Arts Council seeks submissions for 2020 exhibits

Kariton Art Gallery hosts 10 to 12 shows each year

Abbotsford man crafts one-of-a-kind metal sculptures at Green Lake home

‘I am in an office all day and this is my way to get away from all of that’

SLIDESHOW: Symphony in the Park

Free concert at Mill Lake featured Abbotsford’s young orchestra talent

VIDEO: Abbotsford police arrest man suspected of using pepper-spray against another man

Police cruisers collide in pursuit of suspect fleeing on a stolen bicycle

QUIZ: How much do you remember about Woodstock?

Weekend music festival in Bethel, New York, was held 50 years ago

15-year-old boy drowns after midnight jump into Okanagan Lake

The RCMP and BC Coroners Service are investigating the drowning.

U16 B.C. fastpitch team named national champs

Girls went undefeated at national tournament in Calgary

Advocates ‘internationalize’ the fight to free Raif Badawi from Saudi prison

Raif Badawi was arrested on June 17, 2012, and was later sentenced to 1,000 lashes and 10 years in jail for his online criticism of Saudi clerics

Canadian entrepreneurs turning beer byproduct into bread, cookies and profits

Some breweries turn to entrepreneurs looking to turn spent grain into treats for people and their pets

Canada ‘disappointed’ terror suspect’s British citizenship revoked

Jack Letts, who was dubbed “Jihadi Jack” by the U.K. media, has been detained in a Kurdish prison for about two years

Most Read