Property values jump

BC Assessment is reporting increases in home prices in Surrey and Delta of up to 16 per cent.

Home prices in Surrey and Delta have experienced significant increases.

Properties in this area are experiencing a significant boost in values, according to the assessor for the province.

B.C. Assessment is now sending out valuations for properties throughout the province.

Those valuations will determine the property taxes paid on each home.

Surrey, Delta and White Rock are now bundled in with the Fraser Valley Region, which includes all properties south of the Fraser River up to Boston Bar and Manning Park.

The assessments were done throughout the region last year and are based on the value of the homes on July 1.

Single family homes in both north and south Surrey saw increases of 10 per cent from the year prior, east Surrey saw jumps of 12 per cent and central Surrey shot up by 16 per cent.

A similar home in North Delta saw increases of about 10 per cent, while White Rock experienced jumps in value of about 14 per cent.

“The majority of homeowners within the region can expect a modest increase, compared to last year’s assessment,” said Deputy Assessor Brian Smith in a release. “Properties in South Delta and parts of Richmond will generally sees the highest per cent increase in the region.”

(South Richmond saw climbs of 20 per cent, while South Delta assessments jumped by 17 per cent)

More detailed assessments are available on the agency’s new website at www.bcassessment.ca, which includes all valuations.

If a property owner feels their home has been incorrectly assessed, they can submit a notice of appeal by Feb. 1 for an independent review of their house value.

 

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