Homeowners can now check the B.C. Assessment Authority website to see the value of their home as of July 1, 2023.
An assessment is an estimate of a property’s market value as of July 1 and physical condition as of Oct. 31. To determine value, assessors take into account sales in an area as well as the size, age, quality, condition, view and location of a property.
To check your home’s value, go to bcassessment.ca and search by address. The authority will be releasing full details of property value increases across the province on Jan. 2.
In July 2022, the priciest home in B.C. was at 3085 Point Grey Rd., which belongs to Lululemon founder Chip Wilson. It was valued at $74,089,000, an increase of 1.3 per cent over the previous year.
According to the updated figure on the B.C. Assessment website, as of July 2023, the Wilson manse was valued at $81,765,000 — an increase of 10.4 per cent.
The most expensive residential property in the Vancouver Island region in July 2022 was James Island, valued at $61,239,000. B.C. Assessment now pegs the value at $57,934,000 — a decrease of about 5.4 per cent.
— With a file from the Vancouver Sun
