Stay in touch with NIHO!

Press Gallery

Nearly all detached homes in Vancouver assessed at $1-million or more

Brent Jang, The Globe and Mail, Feb. 24, 2017
 
Vancouver is edging close to having 100 per cent of its detached houses assessed at $1-million or more.

A new study by Andy Yan, director of Simon Fraser University’s City Program, shows that 99.7 per cent of single-family detached properties in the city of Vancouver had an assessed value of at least $1-million last July, compared with 91 per cent in mid-2015 and 65 per cent in mid-2014.

Read more »

Vancouver brimming with million-dollar houses as affordability crisis hangs over city

Breng Jang, The Globe & Mail, Feb 13, 2017

Vancouver is awash with detached houses reaching the $1-million milestone as the affordability crisis hangs over the city and nearby suburbs.

Within city limits, 99.7 per cent of the 75,295 detached properties in Vancouver had assessed values of at least $1-million last summer, according to a new study by Landcor Data Corp., which tracks real estate in British Columbia.

Read more »

Raised homeowners’ grant benefits half of North Shore owners

Jane Seyd, The North Shore News, Jan 16, 2017

Nearly 13,000 homeowners on the North Shore got a tax break from the provincial government last week.

That’s because the province announced it is raising the assessment threshold cut-off for the homeowners’ grant to $1.6 million of assessed value from a previous $1.2 million.

According to the data company Landcor, which analyzed BC Assessment figures,

Read more »

Council suggests tax deferrals as thousands lose homeowner grant

Graeme Wood, The Richmond News, Jan 12, 2017

Property tax burdens are expected to shift further from condo and townhouse owners to those of detached homes, in Richmond this year.

According to Landcor Data Corporation, average assessed values for condos are up 15 per cent; townhouses spiked 32 per cent; and detached homes went up 44 per cent. The City of Richmond reports the overall average increase to residential properties,

Read more »

Homeowner Grant stiffs younger generation of Richmondites

Graeme Wood, The Richmond News, Jan 12, 2017

It’s difficult for University of B.C. associate professor Paul Kershaw, founder of advocacy group Generation Squeeze, to understand the rationale behind giving “paper millionaires” $821 million worth of property tax grants.

“It’s not clear to me any longer why we’re talking about the Homeowner Grant. People are accruing so much wealth in their homes while they’re sleeping,” said Kershaw.

Meanwhile,

Read more »

Homeowner grant threshold upped to $1.6M

Jane Seyd, North Shore News, Jan 10, 2017

Thousands of homeowners in North Vancouver will get to keep the provincial homeowners grant after the government announced Tuesday it is raising the assessment threshold at which owners no longer qualify for the help.

Finance Minister Mike De Jong made the announcement Tuesday morning in Vancouver.

The change raises the threshold at which owners begin to lose the grant from $1.2 million to $1.6 million of assessed value,

Read more »

British Columbia to raise limit on homeowner grant

Justine Hunter, Globe & Mail, Jan 9, 2017

B.C. Finance Minister Mike de Jong will raise the threshold for the province’s homeowner grant this week, after the skyrocketing value of British Columbian homes threatened to cut many homeowners out of the property-tax relief program because their residences are now worth too much.

Mr. de Jong said Monday he will have details later this week of the new threshold,

Read more »

Homeowners in ‘shock’ eye assessment appeals

Jeff Nagel, Peace Arch News, January 9, 2017

Some homeowners are in panic mode after receiving property assessments in the mail this month showing huge jumps in their valuations.

And more of them than usual are in a mood to fight back.

That’s the take of Steve Miller, a senior appraiser at Bakerview Realty Appraisals, which handles assessment appeals across the Lower Mainland.

“There’s just a sense of shock and disbelief among the public with respect to assessments right now,”

Read more »

Interactive map allows Metro Vancouver homeowners check property assessments against neighbourhood averages

Derrick Penner, Vancouver Sun, January 5, 2017

Looking across the entire Lower Mainland, it was detached homes in Richmond Brighouse neighbourhood that saw the biggest increase in 2017 property assessments, though White Rock was the biggest community to see its average assessment shoot over the threshold for the B.C. Homeowner Grant.

Those results were pulled from data provided to Postmedia by property-data firm Landcor Data Corp., which compiled neighbourhood-by-neighbourhood changes in 2017 property valuations by the B.C.

Read more »

Dramatic gains in B.C. assessed property values mean twice as many homeowners no longer qualify for grant

Joanne Lee-Young, The Province, January 04, 2017

Dramatic gains in assessed property values across B.C. mean twice as many homeowners as last year will no longer qualify for tax relief via the province’s homeowner grant program.

That’s because their homes are — on paper, in a snapshot captured at July 2016 — worth too much.

This year, only 83 per cent of homeowners in B.C. will qualify for a grant as the province’s program currently exists,

Read more »