Property values are rising again in Metro Vancouver.
Jason Grant with BC Assessment says single-family homes in area like Vancouver, the North Shore, Burnaby, the Tri-Cities and New West are going up anywhere from 15 to 25 per cent.
“The market itself creates value and BC Assessment’s role is to simply analyze and follow each market across the province and report that to property owners in the form of their property assessment notice.”
But in terms of property tax hikes, Grant says that depends on how much the property value moves relative to the average of their particular community.
The hikes are less dramatic for the rest of the province, from zero to ten per cent.