A beachfront Tsawwassen property featuring a miniature golf course and outdoor pool is once again Delta’s most valuable home.
For the second year in a row, the 6,183-square-foot five-bed/eight-bath home at 436 Centennial Parkway topped the list of Delta’s most valuable properties, based on 2023 property assessments.
Built in 2013, the two-storey home sits on a half-acre lot and is valued at $7,534,000 ($5,351,000 for the land and $2,183,000 for the buildings), up 9.7 per cent from its 2022 assessed value of $6,865,000 ($4,819,000 for the land and $2,046,000 for the buildings).
Nine of the 10 highest-assessed Delta residences are in Tsawwassen; the only other home to crack the top 10 is a nine-bed/11-bath East Delta house on 19.8 acres also home to Lazy Maple Stables.
The rest of the 10 highest-assessed residential properties in the city are:
• 483 English Bluff Road: $6,253,000 (+4.1 per cent of 2022 value)
• 6003 104th Street: $6,156,000 (+27.6 per cent of 2022 value)
• 515 English Bluff Road: $5,777,000 (+2.4 per cent of 2022 value)
• 395 English Bluff Road: $5,448,000 (+2.9 per cent of 2022 value)
• 746 Tsawwassen Beach Road: $5,373,000 (+11.2 per cent of 2022 value)
• 116 Centennial Parkway: $5,247,000 (+7.6 per cent of 2022 value)
• 610 Tsawwassen Beach Road: $4,966,000 (+9.6 per cent of 2022 value)
• 1019 Pacific Drive: $4,935,000 (+4.4 per cent of 2022 value)
• 536 Centennial Parkway: $4,918,000 (+12.5 per cent of 2022 value)
No North Delta homes even cracked the top 40 — the highest-assessed house in the community is a 10,428-square-foot residence at 7390 115th Street.
The 2021-built home includes nine bedrooms and 10 bathrooms over two floors and a finished basement, and is valued at $4,057,000 ($2,415,000 for the land and $1,642,000 for the buildings).
The previous home at the site had a 2022 assessment value of $2,274,000 ($2,061,000 for the land and $213,000 for the buildings). It was sold in July of 2020 for $1,080,000.
The other highest-assessed homes in North Delta:
• 11932 Clark Drive: $3,688,000 (+1.8 per cent of 2022 value)
• 11695 Summit Crescent: $3,614,000 (+7.9 per cent of 2022 value)
• 5455 120th Street: $3,094,000 (+5.4 per cent of 2022 value)
• 6620 Cabeldu Crescent: $2,998,000 (+6.7 per cent of 2022 value)
• 11950 Clark Drive: $2,981,000 (+4.0 per cent of 2022 value)
• 6629 Kempson Crescent: $2,980,000 (+6.7 per cent of 2022 value)
• 6787 Ryall Crescent: $2,922,000 (+7.0 per cent of 2022 value)
• 11363 Bond Boulevard: $2,904,000 (+7.8 per cent of 2022 value)
• 6573 Knight Drive: $2,870,000 (+7.5 per cent of 2022 value)
Property assessments were mailed out to homeowners across B.C. earlier this month, based on market values as of July 1, 2022.
“Despite the real estate market peaking last spring and showing signs of cooling down by summer, homes were still selling notably higher around July 1 compared to the previous year,” BC Assessment assessor Bryan Murao said.
Based on the latest assessments, an average single-family home in Delta increased in value by 11 per cent, from $1,285,000 to $1,428,000.
In Surrey, a similar single-family home valued at $1,420,000 for 2022 will have risen to $1,609,000 in 2023 — an increase of 13 per cent — while in White Rock such a property assessed for 2022 at $1,581,000 will have risen in value 11 per cent to $1,754,000 in the 2023 assessment.
An average strata condo or townhouse in Delta valued at $625,000 in the 2022 assessment is likely to have increased to $734,000 for 2023 – an 18 per cent jump.
In Surrey, a strata condo or townhouse pegged at $604,000 for 2022, will have risen to $701,000 – a 16 per cent increase — while in White Rock an average strata condo or townhouse valued at $525,000 in the 2022 assessment will have increased 21 per cent to $633,000 for 2023.
But while the increases may be large, there should be no immediate cause for homeowners to panic, according to BC Assessment assessor Bryan Murao.
“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” he explained.
“As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”
The increases locally are similar to those seen in the Fraser Valley (around 10 per cent for houses and 15 per cent for condos and townhouses) but higher than the average increase in Greater Vancouver, posted at nine per cent for both single-family homes, condos and townhomes.
“The majority of the commercial and industrial properties across the province will also be receiving higher assessed values in the range of five per cent to 20 per cent, with the Fraser Valley generally higher,” Murao added.
Murao said those who feel that their property assessment does not reflect market value as of July 1 or see incorrect information on their notice should contact BC Assessment, as indicated on their notice, as soon as possible in January.
He added that a lot of useful information, including an online property assessment search service and answers to many assessment-related questions, can be found at bcassessment.ca.
— with files from Alex Browne
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