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

North Delta library offering teens emergency training

Residents in Grades 10 through 12 can earn seven volunteer hours towards high school graduation

Surrey talk by a woman Oprah calls an ‘astonishingly gifted intuitive’

Canadian tour brings Carolyn Myss to Bell theatre in February

B.C. cougar kitten rescued after mother struck by vehicle

Conservation Officers find home for young kitten found dehydrated and frostbitten near Williams Lake

WestJet appeals lost bid to scrap harassment lawsuit

Airline argues judge was wrong to have dismissed the company’s application to strike the legal action

Can U.S. border guards search your phone? Yes, and here’s how

Secretary of homeland security explains a new policy that let’s border guards check phones

‘Beautiful writer’ Nancy Richler dies of cancer in Vancouver hospital

Montreal-born author spent most of her adult life in B.C. as a fiction writer and novelist

B.C. commuters vote to rename bus service to ‘Jeff’

The company asked and the people of Facebook answered

Students frustrated by UBCO response to harassment allegations

Students on the Kelowna campus were unaware of resources and worried about lack of communication

Sexsmith set to suit up for Giants

Vancouver signs ninth overall pick in 2017 WHL bantam draft

Women’s March Canada Fraser Valley slated for Saturday morning

It’s a march for women’s rights and social justice for the most marginalized

Police investigate sexual assault of teen girl on Abbotsford school grounds

Incident occurred Wednesday night on elementary school grounds

Most Read