B.C. housing market shows signs of moderation: assessment agency

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year

Assessed values of some single family homes in Metro Vancouver’s once red hot housing market dropped between five and 10 per cent in the latest assessments used to determine property taxes in British Columbia.

Meanwhile, BC Assessment says some property owners in the rest of the province have seen five to 15 per cent increases in their property values.

The agency forecasts condominium values will increase by up to 20 per cent across B.C. this year.

Commercial and industrial properties saw an increase of between 10 and 20 per cent across most of the province, with some markets around Metro Vancouver increasing up to 30 per cent.

BC Assessment collects, monitors and analyzes property data.

Its assessments are based on the estimate of a property’s market value on July 1 of each year and its physical condition on Oct. 31.

Deputy assessor Keith MacLean-Talbot says increases in property assessments do not automatically translate into a corresponding increase in property taxes.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Storey’s Excavating takes stand at Ridley Island burn trial, did not review provincial open burn policy

Prince Rupert Port Authority faces four environmental charges for 2017 Ridley Island fire

Incident involving “several dogs” halts Canada Post service on Prince Rupert street

Residents have been temporarily picking up their mail at the Prince Rupert Post Office

Prince Rupert community pulls through for middle school’s clothing drive

Prince Rupert Middle School organized an extra drive with all the clothes collected, more leftover

Another positive year for Ridley Terminal, coal shipments leading the way

Ridley Terminals Inc. held their annual meeting on Tuesday, June 18

Transport Canada reveals more details on 2018 leak at northern B.C. port

An unknown substance sent five employees to hospital at Prince Rupert’s container terminal

VIDEO: Rainmakers to Ringmakers: Prince Rupert athletes celebrate provincial basketball victory

Charles Hays celebrates Mel Bishop’s induction into hall of fame

B.C.-born Carey Price brings young fan to tears at NHL Awards banquet

Anderson Whitehead first met his hockey idol after his mother died of cancer

Licence issue delays boozing while cruising on BC Ferries

Planned June launch for alcohol sales delayed

B.C. school mourns after 13-year-old killed by fallen tree on field trip

Teenager died after being struck and pinned by tree while on a field trip near Sooke

B.C. temporarily halts resource development to protect caribou

The caribou population in northeastern B.C. has dwindled over the last two decades

Students disciplined after anti-LGBTQ signs posted in Kamloops high school

Vessy Mochikas, SD73’s principal for inclusive education, called incident a learning opportunity

‘The Fonz’ gives thumbs up in letter to dyslexic students at B.C. school

Students in Maple Ridge reached out to Henry Winkler after reading one his Zipster books.

B.C. teen killed by falling tree near Victoria

Second youth also injured in freak incident during field trip at Camp Barnard near Sooke

Most Read