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

PHOTOS: Mission Raceway hosts Lordco BC Nationals/Lucas Oil Drag Racing Series

Four-day event attracted plenty of racing fans over the weekend

Mission receives oil recycling grant

District receives $8,000 towards new facility

Police will ‘thoroughly review’ recommendations in Lisa Dudley inquest: RCMP

Inquest jury recommended policies for ‘potential grievous bodily harm’ calls, and increased training

UPDATE: All lanes open after crash closed Sea-to-Sky near Lions Bay

Hwy. 99 not expected to re-open until 2:30 p.m.

‘Daddy bonus’ common in B.C. workplaces, study finds

UBC researchers say dads don’t have to be number one in the office to get a raise

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

B.C. NHL prospect expected to make ‘full recovery’ after an incident in Calgary

Jordy Bellerive was injured in a reported house fire Saturday night

Police: Taxi driver who hit 8 Moscow pedestrians fell asleep

Two Mexican World Cup fans were among those hit

B.C. VIEWS: Orphans of our urban drug culture neglected again

Child advocate Bernard Richard leaves B.C. with harsh message

From marijuana beer to pot cookies, Canadian companies creating cannabis edibles

Manufacturers think that edibles will do well with users who don’t want to smoke or vape

Privacy lawyer warns against victim blaming in recent sextortion scams

Perpetrators get sexual photos of the victim and threaten to share them with friends and families

Motorcycle crash sends man to hospital with life-threatening injuries

Rider collided with a car near Edmonds SkyTrain in Burnaby

QB Jennings leads Lions to 22-10 win over Alouettes

B.C. wins CFL home opener over Montreal

Most Read