Tri-City property owners have until tonight (Monday) to file an appeal with BC Assessment on their 2021 land and building valuations.
The assessments, which are based on the real estate market as of July 1, 2020, saw a 6% uptick in the Tri-Cities from the previous year with the biggest residential surges in the Coquitlam neighbourhoods of:
• Meadowbrook: 10.68%
• Dartmoor and River Heights: 9.54%
• New Horizons: 8.97%
• Eagle Ridge and Town Centre: 7.96%
• Westwood Plateau: 7.92%
For commercial and industrial properties, the biggest spikes were in the following neighbourhoods:
• Mayfair/Pacific Reach: 11.46%
• City Centre and Barnet Highway: 7.56%
• Schoolhouse: 7.39%
• Sherwood and Tupper: 4.843%
• Clarke Road: 3.61%
The numbers were released Monday during Coquitlam’s council-in-committee meeting, when BC Assessment’s Niko Papoutsakis gave an annual review of the 2021 completed assessment roll, via a Zoom presentation.
Papoutsakis said Tri-City property owners wanting to dispute their assessment can go online by Feb. 1 via bcassessment.ca to submit an official notice of complaint.
The first level of the appeal process is through the Property Assessment Review Panel (or PARP) while the second level, if required, must be filed by April 30 through the Property Assessment Appeal Board (or PAAB).
Last year, 511 Coquitlam property owners filed PARP appeals compared with 902 in 2019, Papoutsakis said. And of the 511 that were reviewed, 84% of the cases didn’t change in assessment value.
Despite the coronavirus pandemic, most single-family houses in Coquitlam saw a 5.9% increase from July 1, 2019, to July 1, 2020, while strata homes went up 4.2% over the year.
Factors that affect the market valuation on July 1 include location, land use controls, land and building characteristics, and income potential, Papoutsakis told the committee.
TOP ASSESSED VALUES IN THE TRI-CITIES
• 3333 Caliente Pl., Coquitlam: $8.5 million
• 185 Turtlehead Rd., Belcarra: $7.2 million
• 4593 Belcarra Bay Rd., Belcarra: $6.4 million
• 1080 Uplands Dr., Anmore: $6.2 million
• 3053 Anmore Creek Way, Anmore: $6.2 million
• 277 Turtlehead Rd., Belcarra: $5.9 million
• 2058 Ridge Mountain Dr., Anmore: $5.7 million
• 2610 Sunnyside Rd., Anmore: $5.6 million
• 1450 Crystal Creek Dr., Anmore: $5.4 million
• 4841 Belcarra Bay Rd., Belcarra: $5.3 million
• 748 Alderside Rd., Port Moody: $4.8 million
• 1122 Alderside Rd., Port Moody: $4.8 million
• 656 Alderside Rd., Port Moody: $4.7 million
• 956 Poirier St., Coquitlam: $4.7 million
• 1256 Alderside Rd., Port Moody: $4.6 million
• 3537 Mcvicar Crt., Coquitlam: $4.4 million
• 1136 Alderside Rd., Port Moody: $4.4 million
• 2966 Sunridge Crt., Coquitlam: $4.4 million
• 3486 Wessex Crt., Coquitlam: $4.2 million
