I assume Dykhoff's already have a deal lined up. They're gonna make more off selling that lot (valued at $10.2M) than they have in 60 years of selling shrubs and flowers.
2016 BC Property Assessment
Yeah, I hope the assessor doesn't notice the solid gold shitters in my place and decides jack up the property tax rates. Can they even do that? If the price of gold goes up, does that count as an "improvement"? What if my toilets are 10 karat and my neighbour's are 24 karat? Are his assessments higher?
Anyway, quit bitching:
1-story 2 bedroom house purchased in 1985 for $123,000
2015, the value was assessed at $967,100
Assessed as of July 1st, 2016 Total Value $5,141,000
Land $5,131,000
Buildings $10,000Now an investment property, property tax gone from $5,600 to $18,501.47 in a single year.
Next door to Dykhoff Nurseries on Mtn Hwy between Main Street and Keith Road.
That assessment actually seems reasonable to me. They own 20,000 sqft of land in the middle of a popular neighborhood in North Vancouver. It actually only increased 15% this year. It was two years ago they saw a 45% jump (from 1M to 4.5M), but my guess is that it was way undervalued at 1M for that amount of land). So yeah their value has gone up 60% in the last 2 years. Our half duplex in East Van has has gone up 48% in the same time frame, so its really not all that different in relative terms.
If it is an investment property (and was bought for $123,00) doesnt it seem like the right time to cash out when you have made 4000% on your investment in 30 years?
That assessment actually seems reasonable to me.
Behavioural psychologists would cite this as a prime example of framing.
Change the frame and you could support a completely different analysis.
Behavioural psychologists would cite this as a prime example of framing.
Change the frame and you could support a completely different analysis.
Agree. The owner/s had one idea of what they want the property to be and the government, through their puppetmasters - developers - have another idea. They are trying to "incentivise" (ie force) the landowner off their land (granted it is now an investment property). That said, the property is probably worth more than its assessed value. And of course, money is everything.
Hope to spend many happy hours cycling past gridlock on the 2nd Narrows bridge far into the future.
Hope to spend many happy hours cycling past gridlock on the 2nd Narrows bridge far into the future.
B b but, Transit Hub. Town Centre. People can work where they live.
No, wait…
Behavioural psychologists would cite this as a prime example of framing.
Change the frame and you could support a completely different analysis.
I guess 'reasonable' isnt the best term to use in this case. I meant that the increases they have seen are within the scope of what is happening to many other properties in the Lower Mainland. It isnt an outlier. Many have seen 50-60% increases in one year, nevermind two. The media decided to grab hold of this one, and sensationalize it (as they love to do) over all the others because it involves larger amounts of money.
People can work where they live.
Or live where they work …
It was two years ago they saw a 45% jump (from 1M to 4.5M),
MATH, PEOPLE!!!!
A jump from 1M to 4.5M is 450% … not 45%
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
MATH, PEOPLE!!!!
A jump from 1M to 4.5M is 450% … not 45%
Know your shortcomings … use the calculator
MATH, PEOPLE!!!!
A jump from 1M to 4.5M is 450% … not 45%
No way! Its a $3.5M jump:
̶1̶+̶3̶.̶5̶=̶1̶
̶1̶+̶3̶.̶5̶=̶5̶.̶3̶
̶3̶+̶0̶.̶5̶+̶1̶=̶3̶.̶0̶5̶1̶
̶1̶+̶3̶=̶3̶.̶5̶
Arrrrggghhhh! F*ck math!
MATH, PEOPLE!!!!
A jump from 1M to 4.5M is 450% … not 45%
Holy crap. Yeah I be bad at math it seems :( I will excuse myself from this conversation and go back to my arithmetic lessons which I apparently failed.
I take back my previous statement, and say they got screwed over in 2015-2016, but cant really complain about this years assessment :)
Love the Insane Clown Posse! M' fing magnets, how do they work?
but cant really complain about this years assessment :)
The shitty thing (at this point in time) is that our assessments are worth what we paid for them (shit two parenthesis in one sentence.. let's exclude what "WE" pay for assessments).
It is a measure which is used to distribute tax monies. It is an extremely lagging indicator and shouldn't be used to measure self-worth.
MATH, PEOPLE!!!!
A jump from 1M to 4.5M is 450% … not 45%
350% is the amount of the jump. Duncan had it right before he gave up.
Forum jump:
