Most homeowners, especially those with detached homes, will notice their property assessments are significantly down, according to B.C. Assessment.
Just as Metro Vancouver homeowners are sorting through their holiday credit card bills, there may be another shock in the mail.In the next few days, owners of more than a million properties throughout Metro Vancouver can expect to receive in the mail their 2020 assessment notices, which reflect market value as of July 1, 2019.
Smith says depending on your location and property type, homeowners will experience change on their 2020 assessment notice. “Homes located in Whistler and Pemberton can expect a minimal increase in their assessments whereas the rest of the region will likely experience a reduced assessment value,” said Smith.
A total of $18.6 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties, according to B.C. Assessment.
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