Assessed property values in Whistler rose one per cent last year, while Squamish and Pemberton both saw larger increases.
As of July 1, 2020, the average assessed value of a single-family home in Whistler was $2,034,000 (up from $2,014,000 in 2019).
In Pemberton, the average single-family home was assessed at $945,000 on July 1, 2020 (up from $873,000 the year before, an increase of eight per cent), while Squamish saw a 10-per-cent jump (from ($930,000 to $1,026,000).
Property owners can expect to receive their assessments in the mail in the next few days, according to BC Assessment.
The Lower Mainland residential market has stayed resilient despite COVID-19, and for the most part, homeowners can expect relatively moderate increases in value, said BC Assessment deputy assessor Bryan Murao, in a release.
"This incredible strength is a stark contrast to last spring when the market came to a temporary standstill whereas the remainder of the year had a very steady and rapid recovery,” Murao said.
“The commercial and industrial markets, however, have been much more varied with both decreases and increases depending upon the specific sector. While commercial sales activity has remained low, value changes have been moderate across many property types."
Overall total assessments in the Lower Mainland region—which includes all of Greater Vancouver, the Fraser Valley, the Sea to Sky area and the Sunshine Coast—rose to about $1.46 trillion, with more than $15 billion being added by new construction, subdivisions and rezonings, according to BC Assessment.
Pick up Thursday’s Pique for more.
