2016 BC Property Assessment

I don't believe it's goodbye to the grant (correct me if I'm wrong) but a reduction on the grant based on the amount over the threshold of $1.2M.

I'm over the top end of the threshold.

The way I read it was that over 1.2M, they reduce the grant by $5 for every $1,000 your over $1.2M

My assessed value wiped out all of the prorated portion I could have had over the $1.2M

Unless I misread the info.

BC properties outside Vancouver area saw some price drops in 2008. My assessment went down from 2008-2012. It only really started going back up in 2015.

they did drop locally here as well , but $20k on a house assessed at over $500K is not that big of a drop . I built a shop in 07 , the next tax yr my assessment jumped huge as did my taxes , the next few years it drop 10k a year and as been climbing up again . the latest is thru the roof IMO .

Slightly off topic but does anybody know why the "map" feature no longer shows all of the neighbouring properties? You used to be able to (up until a couple days ago) just click on the property a few houses down and check their details. Maybe the site is just getting too much traffic and can't load them right now… I wanted to creep my neighbours values!

I don't believe it's goodbye to the grant (correct me if I'm wrong) but a reduction on the grant based on the amount over the threshold of $1.2M.

Im quite sure its goodbye to the grant once you are over the 1.2M threshold. There are two levels of grant reduction. A larger reduction if you are a senior/disabled/veteran I believe. The basic level (that most homeowners used to receive before prices went crazy) is the one homeowners are losing out on now. I got this from the city of Vancouver site.

2016 home owner grant threshold increased to $1.2 million

In 2016 the home owner grant threshold of assessed value is $1.2 million (from $1.1 million in 2015). The grant is reduced by $5.00 for each $1,000.00 above the threshold.

• The basic grant is eliminated when the assessed value reaches $1.314 million
• The additional grant is eliminated when the assessed value reaches $1.369 million

If you qualify for the seniors or other additional grant, but the grant amount has been reduced or eliminated due to the 1.2 million threshold, you may still be eligible for the low income grant supplement .

Slightly off topic but does anybody know why the "map" feature no longer shows all of the neighbouring properties? You used to be able to (up until a couple days ago) just click on the property a few houses down and check their details. Maybe the site is just getting too much traffic and can't load them right now… I wanted to creep my neighbours values!

I noticed this too. Just enter their address [HTML_REMOVED] presto. You can also click the "neighbouring properties" tab next to the map tab [HTML_REMOVED] it will give you the few closest to you. Not as awesome as the map was though…

BC properties outside Vancouver area saw some price drops in 2008. My assessment went down from 2008-2012. It only really started going back up in 2015.

my place in PeeG peaked (Vangroovy was still hot) in early 2007 JUST as I was selling it to ski/paddle [HTML_REMOVED] chase tail out west, I maybe missed that RE peak by 5K

I stayed stoned and in cash for 5 years just as the stockmarket was crashing

eventualy the market came down enough (but not in Vangroovy) to afford an up/down duplex without having to work and then I was set

I don't recommend my methods to anyone but it worked for me

RE does go up and down and timing the markets can be just that arbitrary

Some good info on here regarding the home owners grant.

There was a 15% decrease in downtown property prices 2008-2009. I know, because I was trying to sell. Luckily I didn't accept any lowball offers and ended up keeping the place.

It's amazing what a difference a year can make. If like you, I would have tried to sell a year earlier, then the place would have gone. I was trying to sell to fund chasing tail further south :)

Taxes for condos and apartments should go down, while those for houses should go up.

The exemption formula should change with the times.

can't believe my parents haven't been deferring their property tax.. At 0.7%!?!?!?!?! invest that shit!!!

… the latest is thru the roof IMO .

it sure looks like it from here in the sticks… cash out and move to the hinterlands..hookers and blow..

it would be pretty nutty to have a house worth +1 million and climbing …

I stayed stoned and in cash for 5 years just as the stockmarket was crashing

livn the dream…

RE does go up and down and timing the markets can be just that arbitrary

i totally agree. because i got nuked in 2008 I'm only starting to get the hookers and blow plans…

livn the dream…

yeah just like Tom Vu only different … I call it the Lebowski Method

I got my assesment today I think its probably 30K lower than what the place could sell for

Landlords assessment up 199,000. GFs up 215,000