{"id":11105,"date":"2018-12-12T15:15:08","date_gmt":"2018-12-12T23:15:08","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11105"},"modified":"2018-12-10T08:59:23","modified_gmt":"2018-12-10T16:59:23","slug":"bc-homeowners-will-see-signs-of-moderation-in-their-upcoming-property-assessments","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/bc-homeowners-will-see-signs-of-moderation-in-their-upcoming-property-assessments\/","title":{"rendered":"BC Homeowners will See Signs of Moderation in Their Upcoming Property Assessments"},"content":{"rendered":"<p style=\"text-align: justify;\">BC homeowners will see overall \u201csigns of moderation\u201d in their upcoming property assessments, with some parts of the province seeing declines and others considerable increases, according to BC Assessment.<\/p>\n<p style=\"text-align: justify;\">The property assessment organization said that many of Metro Vancouver\u2019s detached homes have declined in value by five to 10 per cent over the past year. However, this is balanced out provincially by property value jumps in most of the rest of BC.<\/p>\n<p style=\"text-align: justify;\">\u201cIt&#8217;s a real mix in property value changes, but the market can best be summed up as showing signs of stability across most areas of the province,\u201d said assessor Tina Ireland. \u201cChanges in property assessments really depend on where you live. For example, assessed values for detached single family homes in many areas of Metro Vancouver may see a softening in value, while other markets and areas of the province will see modest increases over last year&#8217;s values.\u201d<\/p>\n<p style=\"text-align: justify;\">The Metro Vancouver areas most affected by detached home value declines are Vancouver, the North Shore, South Surrey, White Rock, South Delta and Richmond. Other parts of the Metro region were \u201crelatively stable or even showing modest increases,\u201d according to the report.<\/p>\n<p style=\"text-align: justify;\">BC Assessment said that the rest of the province could expect increases of 5% to 15% for single family home values, including the Fraser Valley, Vancouver Island, Okanagan and Northern BC It added, \u201cIn many parts of central and northern Vancouver Island, values were increasing closer to 20%. And, in Kitimat, the increases were even greater in response to activity within the resource sector.\u201d<\/p>\n<p style=\"text-align: justify;\">Despite the market slowdown, Metro Vancouver condo values generally increased on an annual basis. Vancouver, the North Shore and Burnaby saw the lowest rises in condo values, but condos in some parts of the eastern Fraser Valley increased by more than 20%. Overall, condos around BC typically increased in value by 10% to 20% across most areas.<\/p>\n<p style=\"text-align: justify;\">BC Assessment said in a statement, \u201cAdditional price moderation has been seen later in the year, particularly in Metro Vancouver. However, to make sure property assessments are fair, they are all calculated based on the same date of July 1 every year.\u201d<\/p>\n<p style=\"text-align: justify;\">Ireland added, \u201cWhen properties similar to your property are sold around July 1, those sales prices are used to calculate your assessed value. Our job is to make sure your assessment is fair and accurate as compared to your neighbours.\u201d<\/p>\n<p style=\"text-align: justify;\">All BC property owners will receive their annual property assessment notices in early January 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/biv.com\/article\/2018\/12\/homeowners-can-expect-mixed-bag-property-values-bc-assessment\">BC Assessment : Homeowners Can Expect A Mixed Bag of Property Values<\/a> by Glacier Media Real Estate | Business in Vancouver<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BC homeowners will see overall \u201csigns of moderation\u201d in their upcoming property assessments, with some parts of the province seeing declines and others considerable increases, according to BC Assessment. The &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/bc-homeowners-will-see-signs-of-moderation-in-their-upcoming-property-assessments\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11105","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Homeowners will See Signs of Moderation in Their Upcoming Property Assessments &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.roryc.ca\/blog\/2018\/12\/bc-homeowners-will-see-signs-of-moderation-in-their-upcoming-property-assessments\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Homeowners will See Signs of Moderation in Their Upcoming Property Assessments &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"BC homeowners will see overall \u201csigns of moderation\u201d in their upcoming property assessments, with some parts of the province seeing declines and others considerable increases, according to BC Assessment. 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