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

Gallery 7 Theatre presents Tempting Providence

Play opening Friday, Jan. 24 based on true story of Myra Bennett

Family Literacy Day event at Clearbrook Library and The Reach

Free activities taking place on Saturday, Jan. 25 include workshops and more

Big wrestling weekend at UFV

Three days of wrestling inside Abbotsford university’s gyms

Abbotsford Police target 30 school zones in 30 hours

‘30 in 30’ project runs Thursday and Friday at all elementary schools

‘I was alone’: Abbotsford woman sends out warning to other women after robber attempts to force her to ATM

Manj Sidhu-Gill was alone in a parking lot on Jan. 15, when a man approached dressed in all black

Fashion Fridays: The basics you need for your body type

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

New U.S. LNG terminal near northwestern B.C. town proposed

AlaskCAN International LNG wants terminal just over Canadian border, but using B.C gas

Ride-hailing launches after Lower Mainland approval, but only in Vancouver

Uber and Lyft vow to expand as more drivers are hired

Couple wonders who’s in a Cariboo photo that’s been hanging in their home for years

Charles and Lynn Dick believe the image was taken at the 70 Mile Road House

Here’s what Canada is doing to stop the coronavirus from getting in

Health officials are monitoring multiple possible cases in Canada

‘I would not go’ to China says B.C. traveller concerned about coronavirus

Alice Li said she goes to China every other year but would scrap any travel plans

Royal Canadian Legion expels B.C. member for wearing unearned military commendations

‘Stolen valour is stolen service and it’s just totally wrong’

‘Latte-sipping urbanites’ need to realize value of mining in B.C., association head says

Industry generates a total of $3.9 billion in sales of goods and service across the province

B.C. man rescued after getting trapped headfirst in well as water level rose

The rescue involved crews from Oak Bay and Saanich

Most Read