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

Move natural gas pipeline, MP suggests

Coastal GasLink could then avoid opposition

B.C. minister says rural internet is ‘railroad of the 21st century’

Jinny Sims talks details about the $50-million provincial and possible $750-million federal funds

Zero-interest student loans a huge relief: CMTN student union

Parliamentary secretary hears from Terrace students, alumni and staff

Tl’azt’en man emerges strong from leukemia struggle

“You have to find that inner you and fight back,” Darren says

WANTED: Five sought by RCMP

Police asking for public’s assistance finding five people on outstanding warrants.

After mosque attacks, New Zealand bans ‘military-style’ guns

The gunman killed 50 in a Christchurch mosque

Pot industry welcomes decreased edibles tax, but unhappy medical tax remains

Taxes can increase the cost of medical cannabis by as much as 25 per ceny

‘It has to send a message:’ Broncos families await sentencing for truck driver

Jaskirat Singh Sidhu pleaded guilty to 29 counts of dangerous driving and apologized in court

MPs continue voting marathon as Tories protest shutdown of Wilson-Raybould motion

Multiple MPs have resigned from Trudeau’s Liberal cabinet

Canucks hang on for 7-4 win over Senators

Horvat nets 2 for Vancouver

European, Canadian regulators to do own review of Boeing jet

Air Canada plans to remove the Boeing 737 Max from its schedule at least through July 1

Prime minister defends Liberal budget measures as sales effort gets underway

Conservatives under Andrew Scheer say it’s a spree funded by borrowing against the future

Mayor meets with B.C. health minister on homeless taxi transfers

Two homeless people were discharged from Surrey Memorial and sent to a Chilliwack shelter

B.C. lottery winner being sued by co-workers

They claim he owes them $200,000 each, in a lawsuit filed in B.C. Supreme Court in Vancouver

Most Read