interesting read and perspective, but also to be taken with a grain of salt. I'm not one who turns a blind eye on foreign influence, but just a couple points I found odd

1. 'Random' sample of 40/52 homes sold... peculiar number no? If you're sampling ~80% of that area, why not just take all the numbers into account, unless they don't show the point the writer is trying to make.

2. What qualifies a 'normal' 6 month period where 20-30 houses sell, when did 'normal' happen? Why compare a normal 6 month period to a current 9 month period, are they even a comparable comparison? The end numbers are obviously attention grabbing as a result...

http://evaluebc.bcassessment.ca/

new assessment is out today. just checked online. gone up by 30%:)

Your parents house?

Yea same here. Went up 300k. Although they send out a pre assessment in December which says now the assessment reflects the market value. Unlike before where the assessment was well below. Can someone confirm if I'm correct and if this will rape us in taxes?

My condo went up less than 5% near kits but my house in north burnaby went up around 26%. Yay more taxes.

Jesus. My parents house in East Van is up $260K to 1.125M. It's all nuts.

20% increase... now I know why my property tax increased this year

Condo actually went down 5%...home went up 15%...

Yay... More taxes to pay

Hoe can building appreciate...

Parents house went up by 100k. I say this is so the gov can get more tax. If this keeps up I think it would be wise for parents to sell and just rent......

Damn, parents house went up 30% out of no where located in Van right on the border of E/W side. The value has been going up by minimal margins over the last while so this was a surprise.

Also, this is based off of numbers up till July 1 2015.
The market was still hot going into the end of October.
On my feed, I am still seeing some places selling in less than a week during christmas time.
WTF.

My place went up 16% but realistically could sell for ~29% above last years assessed value, based on recent sales/current inventory in my neighbourhood. So I'm ok with the current assessment.

Could only be upset if you really felt the assessed value of your home was more than market value, which you can contest and file for review.

Taxes go up on average by the city's budget increase, which is usually 2-5%.

The city determines how much property taxes you pay, so even if everyone's value goes down 50%, your taxes wont go down 50%, the city will just increase tax rates by 100% in order to get their revenue to meet their budget.

Interestingly, Vancouver also has one of the lowest property taxes relative to other major cities in the world. Can't say the same for people in New West or Port Moody though. . . . .

We've been talking in this thread this year that prices have been going up by 30%, so not sure why anyone would be surprised if it's a detached home.

We've been speculating that perhaps it's mostly due to the currency dropping 25-35% which gives foreigners more purchasing power.

From what I see in the market right now, prices are still going up every month, so it hasn't plateau/flatten out yet. Although it looks like it's no longer rising at the crazy rates it was in the summer.

Phew, mine only went up by 15%...

Because the increases were only minimal over the past few yrs as op mentioned, when the overall Vancouver area values for detached have been going up by double digits over at least the past several years.

I live in sefc and 1 bed condos here are on fire. Seeing 1 beds sold within days, and at prices creeping past $900/sqft. Insane.

Edit: The assessed value of my unit decreased by $7k. It's now assessed at $713/sqft.

Where is SEFC?

I was wondering too, South East False Creek?!

Yup, south east false creek.

20% increase at metrotown :S

Some people call that neighbourhood "Olympic Village" OpieOP

I prefer "SoDoVan" PogChamp

"SoEaFaCree" just sounds racist. :lawl: