The value of Tri-City properties as of July 1, 2021, was unveiled this week by BC Assessment.
And most owners saw decent spikes to their investments from the previous year, which — in most cases — will result in higher property taxes from the municipality come early July.
According to the agency, the demand for properties during the COVID-19 pandemic last year translated to a 10 to 30 per cent uptick throughout the Lower Mainland. For example, the typical assessment for single-family residential properties rose
- 26 per cent in Coquitlam (from $1.1 million to $1.4 million)
- 31 per cent in Port Coquitlam (from $944,000 to $1.2 million)
- 29 per cent in Port Moody (from $1.2 million to $1.6 million)
- 18 per cent in Anmore (from $2 million to $2.3 million)
- 32 per cent in Belcarra (from $1.3 million to $1.7 million)
The biggest increase in the Lower Mainland was the District of Hope, where typical home values jumped 45 per cent.
By comparison, strata assessments — for apartments and townhomes — also went up in the Tri-Cities:
- 12 per cent in Coquitlam (from $562,000 to $631,000)
- 14 per cent in Port Coquitlam (from $506,000 to $576,000)
- 18 per cent in Port Moody (from $622,000 to $732,000)
Bryan Murao, BC Assessment’s deputy assessor, said in news release on today (Jan. 4) that condos in the City of Vancouver were on the lower end of the changes, “generally with single digit increases, whereas homes in the Fraser Valley suburbs are changing higher compared to most of Metro Vancouver."
“Similarly, commercial and industrial properties across the province continue to show signs of recovery," he stated.
Total number of properties on the 2022 roll is 2,142,457, about 1.2 per cent higher from 2021. As well, the total value of real estate on the 2022 roll is about $2.44 trillion, an increase of nearly 22 per cent from 2021.
Meanwhile, the Tri-City News obtained a list from the provincial authority showing the Top 20 most expensive residential properties on its 2022 assessment roll for Coquitlam, Port Coquitlam, Port Moody, Anmore and Belcarra.
The amounts in the brackets indicate the previous year valuations.
- 3333 Caliente Pl., Coquitlam: $10.6 million ($8.5 million)
- 277 Turtlehead Rd., Belcarra: $7.9 million ($5.9 million)
- 185 Turtlehead Rd., Belcarra: $7.8 million ($7.2 million)
- 4593 Belcarra Bay Rd., Belcarra: $6.9 million ($6.4 million)
- 1080 Uplands Dr., Anmore: $6.8 million ($6.2 million)
- 3053 Anmore Creek Way, Anmore: $6.6 million ($6.2 million)
- 2058 Ridge Mountain Dr., Anmore: $6.2 million ($5.7 million)
- 2610 Sunnyside Rd., Anmore: $5.99 million ($5.6 million)
- 3278 Black Bear Way, Anmore: $5.97 million
- 1450 Crystal Creek Dr., Anmore: $5.93 million ($5.4 million)
- 4841 Belcarra Bay Rd., Belcarra: $5.8 million ($5.3 million)
- 3495 Senkler Rd., Belcarra: $5.59 million
- 3537 Mcvicar Crt., Coquitlam: $5.51 million ($4.4 million)
- 1982 North Charlotte Rd., Anmore: $5.47 million
- 1459 East Rd., Anmore: $5.45 million
- 748 Alderside Rd., Port Moody: $5.41 million ($4.8 million)
- 956 Poirier St., Coquitlam: $5.3 million ($4.7 million)
- 4535 Belcarra Bay Rd., Belcarra: $5.28 million
- 1122 Alderside Rd., Port Moody: $5.27 million ($4.8 million)
- 5225 Coombe Lane, Belcarra: $5.26 million
Property owners across the province can expect to receive their 2021 assessment notices in the mail this week. You can also visit bcassessment.ca to check a property assessment online.
If property owners don’t feel their assessment reflects the market value as of July 1, 2021, or see incorrect information on their notice, they can contact BC Assessment at 1-866-825-8322 or visit bcassessment.ca.
