Single-detached homes and strata properties in Burnaby are up by 10 per cent and 12 per cent respectively, according to BC Assessment's latest numbers.
Michael Bublé’s 12,000-square-foot home is once again Burnaby’s most expensive residential property, according to BC Assessment’s latest numbers.
Burnaby properties up by double digits In the next few days, owners of more than 1,089,000 properties throughout the Lower Mainland – including Bublé – can expect to receive their 2023 assessment notices, which reflect the market value of their properties as of July 1. For strata-type homes, such as townhouses and condos, the increase was 12 per cent to $720,000, up from $646,000 in 2021.“Despite the real estate market peaking last spring and showing signs of cooling down by summer, homes were still selling notably higher around July 1, 2022 compared to the previous year,” BC Assessment assessor Bryan Murao said in a news release.
Taxes The assessment authority’s roll provides the foundation for local and provincial taxing authorities to collect more than $8 billion in property taxes each year to fund community services, but a change in property assessments doesn’t automatically translate into a change in taxes, according to BC Assessment.
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