R.E. News
Property Assessments – July o1, 2011
When Metro Vancouver and regional property owners receive their 2012 assessment notices in the mail over the next few days, they’ll see a wide variation in values by region, city and neighbourhood. View homes for sale in Vancouver, Richmond and Burnaby.
The BC assessments for properties across the province reflect values on July 1, 2011. Home values surged in the beginning of 2011, and peaked around the time when the last assessment report was completed. At the end of the year and beginning of 2011, home prices would have come down a bit and won’t be reflected in the assessment.”
“Almost all homes in [the city of Vancouver] are increasing in value compared to last year’s assessment roll,” said area assessor Jason Grant in a statement. “Most single family homeowners in Vancouver will see significant increases, in the 10 per cent to 25 per cent range. Strata condominium owners will also see increases, but typically less than 10 per cent.”
On a percentage basis, the total change for all residential property types were as follows:
- up 16.5 per cent in Richmond
- up 16.4 per cent in Vancouver
- up 15.9 per cent in West Vancouver
- up 12.2 per cent in Burnaby
- up 7.9 per cent in Surrey
- up 7.6 per cent in North Vancouver district
- up 6.9 per cent in Coquitlam
- up 5.2 per cent in New Westminster
- up 5.1 per cent in North Vancouver city
- down 1.9 per cent in Squamish
- down 3.2 per cent in Sechelt
- down 5.0 per cent in Lions Bay
- down 6.2 per cent in Whistler
In the Fraser Valley, property owners will see little change in values this year.
