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

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

Eight alleged dealers face charges for Surrey-Langley drug ring

Police say the group is linked to the ongoing gang conflicts in Metro Vancouver

Today Surrey residents to learn what city will reveal about controversial policing plan

First ‘public engagement’ meeting on plan to swap out the RCMP for a city-made police force in Cloverdale Thursday

Former Surrey Eagle ‘proud’ to represent Italy at world championships

Anthony Bardaro playing pro hockey in Europe after junior, university career

North Delta’s Kennedy Seniors Centre wins B.C. photo contest

Shot of volunteers counting knit baby hats for BC Children’s Hospital won Volunteer BC’s photo contest

Cloverdale students honour veterans at inaugural luncheon

Hold High the Torch hosted 30 veterans at Salish Secondary luncheon

600 new campsites coming to provincial parks and recreation sites across B.C.

Tourism Minister announced half of the new spots to 13 most popular provincial parks

North Delta happenings: week of May 23

Events and community listings for North Delta

Municipalities protest after B.C. declares marijuana growing ‘farm use’

UBCM president seeks answers in letter to John Horgan government

CMHC defends mortgage stress test changes amid calls for loosening rules

Uninsured borrowers must now show they could service their mortgage if rates rose two per cent

Metro Vancouver mayors ask public to lobby feds for annual $375M transit fund

Mayors renewing their call for transit funding as federal election looms

B.C. woman left ‘black and blue’ after being pushed off 40-foot cliff at lake

West Shore RCMP looking for witnesses as investigation continues

BC Ferries asks boaters to learn signals and be careful around vessels

BC Ferries responded to 15 marine emergencies in 2018

VIDEO: Suspected arson sends five to Abbotsford hospital with smoke inhalation

Man seen throwing flammable substance in van, lighting it on fire next to home

Thunderstorms to bring heavy rain, risk of flash floods in the southern Interior

Ten to 30 millimetres of rain to fall over the early weekend

Most Read