With property assessments in this week, thousands of homeowners across the province got a glimpse of exactly what they’re sitting on and how much it may cost them come tax time.
With roughly 1,056,000 properties assessed across the Lower Mainland, overall total assessments have increased from about $1.41 trillion in 2020 to about $1.46 trillion this year.
"Despite COVID-19, the Lower Mainland residential real estate market has been resilient," said BC Assessment Deputy Assessor Bryan Murao in a press release.
"For the most part, homeowners can expect relatively moderate increases in value. This incredible strength is a stark contrast to last spring when the market came to a temporary standstill whereas the remainder of the year had a very steady and rapid recovery."
But who’s sitting on the biggest fortune?
Here are the 11 highest-valued properties across Coquitlam, Port Coquitlam, Port Moody, Anmore and Belcarra:
1) 3333 Caliente Place, Coquitlam - $8,572,000
At over $8.5 million in assessed value, “The Chateau,” as it’s known, sits in a gated swath of wooded property, tucked in between El Camino Drive, David Avenue and the Coquitlam River.
Sitting on a 16-acres property, the red roof of the house dominates the landscape from above.
The open concept architecture of “The Chateau” includes an internal courtyard with fountains, fireplaces and an indoor pool. Originally designed for entertaining, it is now marketed to “suit a range of film needs from executive style home to country club to executive hotel.”
2) 185 Turtlehead Road, Belcarra - $7,261,000
Stretching down a spit of land that leads to Hamber Island, Turtlehead Road regularly boasts a number of the Tri-Cities’ most valued properties. This year is no different. Top of the list, is this over 10,000-square-foot waterfront home.
Sporting six bedrooms and seven bathrooms on 0.54 acres of land, the property has sunk in value in recent years, since it was assessed at roughly $7.8 million in 2019.
3) 4593 Belcarra Bay Road, Belcarra - $6,477,000
Another waterfront Belcarra home with its own dock, this roughly 5,000-square-foot home has rode out 2020 ending with roughly the same value it had in 2017.
4) 1080 Uplands Dr, Anmore - $6,441,000
With Whistler-inspired architecture, the over 7,600-house has five bedrooms, eight bathrooms, several second-floor balconies and an outdoor pool.
5) 3053 Anmore Creek Way, Anmore - $6,276,000
A 10,207-square-foot home with six bedrooms, 10 bathrooms, an indoor pool and Rare South African Wenge wood?
Then there’s the weight room, chipping and putting greens, full-sized basketball court, eight-car garage and $1 million home theatre.
6) 277 Turtlehead Rd, Belcarra - $5,942,000
Back to pricey Turtlehead Road, this time with a waterfront lot on the south side approaching Hamber Island.
7) 2058 Ridge Mountain Drive, Anmore - $5,716,000
Having sold for $910,000 in 2015, the property has shot up in value after a 9,000-foot home was built there in 2016. However, since 2018 when it was valued at over $5.8 million, it has dipped in value.
8) 2610 Sunnyside Road, Anmore - $5,638,000
At 8,500 square feet, this six-bedroom home has gained roughly $2 million in value since 2017.
9) 1450 Crystal Creek Drive, Anmore - $5,483,000
Tucked into a bend of Crystal Creek Drive about halfway between the Village of Anmore and Sasamat Lake, the roughly 9,300-square-foot house has five bedrooms, seven bathrooms and a series of balconies overlooking a forest toward the old Ioco townsite.
10) 4841 Belcarra Bay Road, Belcarra - $5,371,000
With nearly 100 feet of of ocean frontage, “There's room for a 30 ft yacht,” wrote one realtor before the empty property was sold for $1,100,000 back in 2014. Today, the property is home to a — modest for this list — three-bedroom 7,000-square-foot home only 500 metres from Belcarra Regional Park’s popular picnic area.
11) 748 Alderside Road, Port Moody - $4,884,000
Half a kilometre past Old Orchard Hall on Ioco Road, this 8,000-square-foot “beach house,” comes with its own dock overlooking Moody Inlet.
OK, so not everybody is struggling during the pandemic. What about the barely-millionaire homeowners? And condo-dwellers?
Across the Tri-Cities, typical assessed value for single detached homes, townhouses and condos have shot up to varying degrees.
The biggest jump for detached homes in the Tri-Cities came in Port Coquitlam ($944,000), where typical assessed value spiked 8%. Typical assessed value for detached homes in Coquitlam ($1,187,000) and Port Moody ($1,264,000) jumped 6%, whereas, considering provincial range of 0-10% growth, it rose a modest 1% in Anmore ($2,013,000) and Belcarra ($1,319,000),.
When it came to condos and townhouses, Coquitlam and Port Coquitlam led the Tri-Cities with a 4% spike in typical assessed value, whereas Port Moody climbed 1%. The numbers reflect market value as of July 1, 2020.
As for renters, the Government of B.C. has frozen rent increases until July 10, 2021.
"If you received a notice that your rent was set to increase on December 1, 2020, don't pay the increased amount," advised the province last month.
