Thousands warned of property value spike

Early notifications go out to homes that face assessment jump of more than 15 per cent

An unusually high number of Metro Vancouver homeowners are being warned they will get a sharply higher property assessment next month that may trigger an unwelcome property tax increase.

BC Assessment says it has sent out 37,000 early notification letters across B.C., with almost two-thirds of them going to Metro Vancouver home owners. That’s significantly more than most years.

“Early notification letters are mailed to property owners who can expect an increase of at least 15 per cent above the average increase in their local taxing jurisdiction,” said assessor Jason Grant.

“We want to ensure impacted property owners are aware of the significant increases and we welcome them to contact us. if they have any questions or concerns.”

Increases of 15 to 25 per cent will be typical for single-family detached houses in Vancouver, the North Shore, Burnaby, Tri Cities, New Westminster, Richmond and Surrey, Grant said.

He said typical strata residential increases will be in the five to 10 per cent range.

Examples of the sort of increases coming in the Surrey area include a 1981 detached house in South Surrey that will see its 2016 assessment climb 10 per cent to $790,000 from $716,000, as well as a 1983 house in Fleetwood that’s up 11 per cent from $514,000 to $573,000.

The final assessments that go out in early January reflect the market value as of July 1.

Just Posted

Surrey wants BNSF to slow Crescent trains

Mayor Linda Hepner said ‘it’s the least we can do’

Rail-safety forum planned for White Rock this Friday

Event to include municipal, federal, provincial governments

White Rock open house to discuss city’s aquifer protection plan

Examination of potential hazards includes increased population, climate change

‘Connecting Threads’ and more in Surrey Art Gallery’s fall shows

Free admission at opening reception and panel discussion Sunday afternoon

SFU unveils new lab at Surrey Memorial Hospital

Combination of MRI, MEG allows for ‘best possible windows’ intro brain function

B.C. RCMP turn to Const. Scarecrow to shock speeders into slowing down

New addition will watch over drivers from a Coquitlam median for first-of-its-kind pilot in Canada

B.C. home to 1/3 of Canada’s overdose deaths in first 3 months of the year

There were 1,036 overdose deaths in the first three months of the year, with 94 per cent accidental

B.C. candidate moves from hospice care to council race

He beat terminal cancer twice and entered hospice when he decided to run for council.

Canadian tobacco exec pushes back against vaping health concerns

A warning from Interior Health about the unknown health risks of vaping is getting a partial rebuke

New ‘meowyoral’ race featuring felines announced by B.C. animal shelter

Organizers hope the cat election will generate attention for shelter and local municipal election

Ministry of Agriculture commits $300,000 to help B.C. farmers obtain land

B.C. Land Matching Program supports access to affordable farmland for young farmers

Canadian air force short 275 pilots

Attrition outpaces recruitment and training claims Air Force

Teacher suspended after physically shushing, saying ‘shut up’ to student

Grade 5 student reported feeling ‘confused and a little scared’

A B.C. society helps to reforest Crown land after wildfires

Forest Enhancement Society of BC focuses on wildfire mitigation and the reforestation

Most Read