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. Assessment Authority.
The Landcor data shows that, in contrast to Richmond Brighouse, where average assessments soared 71 per cent to $1.7 million among 126 residences, the Chilliwack neighbourhood of Ryder Lake had one of the smallest increases at 16 per cent, which brought its average for its 234 homes to $694,251.
The big concern for homeowners is whether the increase in their assessment pushes their home’s value over the threshold to qualify for the B.C. Homeowner Grant, which was last set in 2016 at $1.2 million.
Based on the threshold as it stands, the average assessment for detached homes in Richmond Brighouse was pushed from comfortably under the grant threshold to well over.
And in White Rock, the average assessment shot up 51 per cent to $1.6 million for 2017 from $1.1 million in 2016 among 3,664 single-family homes.
Readers can use the navigation tools on the map below to check how their own assessment compares with their wider neighbourhood, sorting by property type.
Neighbourhoods in the Tri-Cities saw the biggest increases in assessments on condominiums. Apartments in Port Moody’s Heritage Mountain saw their assessments rise 62 per cent to an average of $632,277 from 2016 and on Burke Mountain in Coquitlam assessments climbed 39 per cent to just over $1 million.