Space889 added a link to this story: BC assessment is sending out warning letters to a few thousand property owners whose property tax is going up.
“Increases of 15 to 25 per cent will be typical for single-family homes in Vancouver, the North Shore, Burnaby, Tri-Cities, New Westminster, Richmond and Surrey,” says B.C. Assessor Jason Grant.
It should come as no surprise that as property values rise their taxes may too, but it’s worth noting that doesn’t necessarily mean more money in government coffers.
That’s because property taxes here are based on a properties value in comparison to its neighbors, not the properties absolute value.
