Property assessment info is announced on an annual basis, the beginning of the new year and is based on the market values as of July of the year before.
Often changes in property assessments really depend on where you live.
Some highlights of the 2019 property assessment of 2,044,482 BC properties include:
1. Metro Vancouver detached home values are decreasing: Homes in Vancouver, the North Shore, South Surrey, White Rock, South Delta and Richmond are showing decreases in value of five to 10 per cent.
2. Values of single-family homes outside Metro Vancouver are increasing: Homeowners in the Fraser Valley, Vancouver Island, the Okanagan and the northern areas of the province can expect increases of five to 15 per cent.
3. Vancouver Island and Kitimat are hot spots: In many parts of central and northern Vancouver Island, values show increases of close to 20 per cent. In Kitimat, the terminus of a planned LNG megaproject, increases are above 20 per cent.
4. Condos are worth more: Condominium values have increased an average of 10 to 20 per cent across the province.
5. Commercial and industrial values are increasing: The values of these properties show continued increases across most of the province. In Metro Vancouver, some show increases of up to 30 per cent.
Click here to learn more!
Thinking of selling this new year?
We welcome your follow-up to learn 'What is my home worth?'.
West Vancouver, North Vancouver and surrounding area real estate markets have changed. With our 60 years of combined real estate expertise we discerningly review MLS® data of recently sold homes in your area to determine what your home is worth and, of course, take into consideration your home's unique characteristics.
To request 'What is my home worth?' touch base with:
Royal LePage Sussex-John Jennings