Property owners who checked their annual assessments in Agassiz-Harrison may have noticed a bit of a jump.
According to B.C. Assessment, homeowners in both the District of Kent and Harrison Hot Springs experienced an average rise of 12 per cent in assessed value from July 2021 to July 2022. The typical assessed value of a single-family home in Kent rose from $710,000 to $795,000 while in Harrison Hot Springs the typical value was $807,000 in 2021 and $905,000 in 2022.
In terms of single-family home values, Pemberton saw among the more significant jumps in the province with typical values going from $1.15 million to $1.33 million from last year to this year. Strata property values rose by 21 per cent in value from $525,000 to $633,000. Abbotsford saw similar trends in strata properties with price going from $411,000 to $496,000, a rise of 21 per cent in assessed value.
West Vancouver saw only a 4 per cent jump in single-family property value to a typical assessed price of $3.1 million, roughly $1 million more than North Vancouver ($2 million, 6 per cent increase) and the City of Vancouver ($2.1 million, 7 per cent). Strata property prices in the metro Vancouver area saw higher trends with prices going up by 6 per cent in the City of Vancouver, 10 per cent in North Vancouver and 7 per cent in West Vancouver, with West Van boasting the highest strata values in B.C. Assessment’s sampling at $1.4 million.
Overall, there was a one-per cent increase in properties on the 2023 assessment roll compared to the previous year, valued at $2.72 trillion across B.C. This was also a 12-per cent increase from the previous year.