scott craven
Well-Known Member
Wow, what an increase !
ours is up more than $200K
ours is up more than $200K
Property Assessments
- Thread starter scott craven
- Start date
wildmanyeah
Crew Member
300k here
about a 40% increase
about a 40% increase
Rain City
Crew Member
Whaaaaaaat?! That's crazy.
We're up 10% which seems to be the average in Vancouver. One thing I don't understand is the building value has gone up by 10% as well. I thought those always went down over time.
$2 089 000 for a 42x120 lot in a peat bog with no view and a sinking 50s bungalow. Crazy that most of my neighbors have owned since the late 90s early 2000s when these properties were probably selling for $200 000 - $300 000
wildmanyeah
Crew Member
went from 780 000 to 1 080 000
we paid 825 for it in 2020 and nabours places are selling 1mill to 1.25 mill
we paid 825 for it in 2020 and nabours places are selling 1mill to 1.25 mill
RogersonCrusoe
Well-Known Member
729 to 984 here in sleepy Brentwood Bay. 24% increase 
ziggy
Well-Known Member
Well I guess the good news is that the mill rate will drop accordingly in a perfect world. Taxes always go up, but not often in double digits. Usually the mill rate is set based on the operating budget required and assessments. Higher assessments = lower mill rate to secure funding required. You just really have to worry if your place jumps up higher than the rest of the neighbourhood, if not you should just see whatever % increase your municipality has settled on.
Sea Chaser
Crew Member
333k in Langley. Nearly tripled in 10 years since living here .
Captain PartyMarty
Crew Member
My building value went up 28%, that's such ********. Good news is 0% increase on the Land, still only worth $4525 thanks to the farm status
Captain PartyMarty
Crew Member
My neighbors building went up 56%
ryanb
Well-Known Member
A lot of really weird stuff happening on assessments this year.
-Huge increases in building values (with no actual change in the building)
-my neighbours house was assessed at 1.2 mil for the building...only problem is that on July 1st there wasn't even a building there at all, just a hole in the ground!!
-Our building was valued at 40 percent more than we payed to build it (completed in 2021).
I think they're going to have their hands full with disputes this year.
-Huge increases in building values (with no actual change in the building)
-my neighbours house was assessed at 1.2 mil for the building...only problem is that on July 1st there wasn't even a building there at all, just a hole in the ground!!
-Our building was valued at 40 percent more than we payed to build it (completed in 2021).
I think they're going to have their hands full with disputes this year.
17 ft sea ranger
Active Member
r they in the mail....or checking online?
if online what site?
if online what site?
Clint r
Well-Known Member
BC Assessment - Independent, uniform and efficient property assessment
BC Assessment provides current actual value assessments for tax purposes on all properties in British Columbia and provides expertise in real estate data, mass appraisal systems and management.
scott craven
Well-Known Member
Thanks, I can't spell obviously ☺
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Stizzla
Crew Member
You don’t understand why building values have gone up??
I can tell you lumber and other material prices in the last year have gone up. Trust me, I’ve been a builder for months now… I know my stuff.
wildmanyeah
Crew Member
do you use used lumber and windows?? how about drywall with asbestos in it
pretty sure they just base it on its current value not replacement value. Also pretty sure unless you report upgrades and stuff they just use the squar footage and date it was built
Foxsea
Well-Known Member
Nope. Common ways to determine assessed value: land book value plus depreciated construction costs (rarely used because irrelevant), recent, comparable sales in your area (most accurate reflection)and (your insurance company favorite): estimated replacement cost of buildings plus lot value. B.C. Assessment follows building permits very closely.
