OWNERS of nearly 268,000 properties throughout the South Fraser Region can expect to receive their 2015 assessment notices in the next few days.
“Most homes in the South Fraser region are worth more in value compared to last year’s assessment roll,” said Brian Smith, Acting Deputy Assessor. “Most South Fraser home owners will see modest changes in the 0% to +10% range.”
Overall, the South Fraser region’s assessment roll increased from $190.5 billion last year to $199.8 billion this year. Of note, a total of almost $2.9 billion was added through subdivisions, rezoning and new construction.
The examples below demonstrate local market trends for residential properties by a geographic area; trends are affected by many variables.
| Jurisdiction | 2014 Assessment Roll(valuation date of July 1, 2013) | 2015 Completed Assessment Roll(valuation date of July 1, 2014) |
| City of Richmond | ||
| SFD-West Richmond (1992) | $1,456,000 | $1,500,000 |
| SFD-Steveston (1972) | $777,700 | $852,000 |
| SFD-Shellmont (1969) | $973,000 | $1,001,200 |
| Strata Townhouse-Cambie (2000) | $525,000 | $530,000 |
| Strata Apt-Broadmoor (1993) | $248,300 | $252,900 |
| Strata Apt-Lansdowne (1996) | $276,000 | $279,000 |
| Corporation of Delta | ||
| SFD-Tsawwassen (1967) | $611,000 | $652,100 |
| SFD-East Ladner (2003) | $759,000 | $760,000 |
| SFD-North Delta (1970) | $470,100 | $509,700 |
| SFD-Sunshine Hills (2001) | $780,000 | $855,000 |
| Strata Apt-Royal Oaks (1992) | $637,000 | $684,000 |
| Strata Apartment-North Delta (1972) | $106,500 | $110,400 |
| Strata Townhouse-Sunridge (1984) | $272,700 | $289,500 |
| City of Surrey | ||
| SFD-Fleetwood (1987) | $435,000 | $451,100 |
| SFD-Whalley (1980) | $487,700 | $488,400 |
| SFD-Guildford (1983) | $487,200 | $514,300 |
| SFD-Newton (2000) | $465,000 | $494,000 |
| SFD-Cloverdale (2001) | $608,000 | $635,000 |
| SFD-South Surrey (1981) | $672,000 | $716,000 |
| Strata Apt-Guildford (1995) | $194,700 | $194,800 |
| Strata Townhouse-Newton (2006) | $373,000 | $374,000 |
| Strata Apt-Fleetwood (1997) | $207,100 | $207,800 |
| City of White Rock | ||
| SFD (2005) | $866,000 | $905,000 |
| SFD (1967) | $1,329,000 | $1,357,000 |
| SFD (2001) | $1,010,000 | $1,055,000 |
| SFD (1966) | $612,300 | $683,700 |
| Strata Apt (1995) | $268,000 | $271,000 |
| Strata Apt (1993) | $252,000 | $258,000 |
In addition, owners of commercial and industrial properties in the South Fraser region will see changes ranging from 0% to 10%.
“Property owners who feel that their property assessment does not reflect market value as of July 1, 2014 or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January,” said Smith.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by February 2, for an independent review by a Property Assessment Review Panel,” added Smith.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between February 1 and March 15 to hear formal complaints.
The South Fraser Region’s assessment office is located at 100 – 5477 152nd Street in Surrey. During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday toFriday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online by clicking “CONNECT” at www.bcassessment.ca.
Visit www.bcassessment.ca for more information about the 2015 Assessment Roll including lists of 2015’s top 100 most valuable residential properties across the province.
Of note, BC Assessment has launched a newly-enhanced version of its free e-valueBC service that allows the general public to search, check and compare properties online from across the province. Improved navigation, an interactive map and inclusion of property street-front imagery are among the new features. Also new for 2015, BC Assessment has updated its Customer Service Standards which include commitments to be open & transparent, fair & accurate, timely & accessible, knowledgeable & respectful, and innovative & collaborative.
“Our service commitments and standards clearly indicate the level of service that you can expect from BC Assessment and ensure we focus on customer needs as we continue to deliver excellent service,” said Smith.
