Did the assessed value of your home go way up? The 2016 BC Assessment notices arrived in mailboxes starting Monday.
Squamish saw the second highest overall increases in the province at 17.33 per cent. Lions Bay held top spot at 17.96 per cent. Burnaby, West Vancouver and Vancouver rounded out the top five.
The assessments of homes’ values reflect the market value as of July 1.
In Squamish, a Garibaldi Highlands single-family home increased 23 per cent to $667,000 from $543,000 in 2014. The assessment for a downtown single family home increased 18 per cent to $432,000 from $366,000.
Some townhouses saw slightly less of an increase in assessments, with a Garibaldi Estates strata townhouse set at $374,000, up from $324,000 in 2014, an increase of 15 per cent.
A low-rise strata Garibaldi Estates apartment saw a five per cent increase to $192,000, up from a 2014 assessment of $183,000.
The assessment is based on an estimate of the homes property market value as of July 1 and the physical condition as of Oct. 31, according to BC Assessment news release.
