Maple Ridge homes are worth more this year

But property tax increases, on average, still will be under four per cent

On the plus side, Maple Ridge homeowners have seen a healthy 15-per-cent jump in the value of their properties over the past year, as real estate prices keeps rising.

On the minus side, if your home or condo increased by more than the average, your property tax bill could climb correspondingly.

B.C. Assessment already has sent out some assessment notices in the mail, with the majority to be mailed out in January. Those tell homeowners how much their property was valued at during the previous July.

Those values determine how much property tax you will pay. But if your property jumped by the average amount, you’ll pay the average tax increase.

Maple Ridge’s council’s budget this year, due for approval in January, calls for a 3.62-per-cent increase in taxes on the average home.

“If there’s anything we’d prompt people to do is look at their assessments, and if they’re not accurate, they should appeal,” said city financial planning manager Trevor Thompson.

The assessment has to be filed with B.C. Assessment by the end of January.

“The preliminary market analysis for 2018 property assessments is showing strong market conditions across most areas and property types in the province, with a few exceptions,” says assessor Tina Ireland. “Assessments for detached single family homes in central parts of Metro Vancouver, for example, will be relatively stable, while other parts of the province will see increases when compared to last year’s assessments. Residential strata values are going up in most communities, while commercial and industrial properties are also continuing to rise, particularly in the Vancouver area.”

However, said the residential strata market (condos) is quite robust with typical changes expected to be in the 10-30 per cent range across Metro Vancouver, Fraser Valley, Vancouver Island and the Okanagan; the higher end being notable in Metro Vancouver and Fraser Valley.

“It is important to understand that large increases in property assessments do not automatically translate into a corresponding increase in property taxes,” adds Ireland. “How your assessment changes relative to the average change in your community is what may affect your property taxes.”

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

CALL OUT: Musicians invited to perform on Port Haney Wharf

For more than 20 years Maple Ridge Historic Society has been hosting a series of outdoor concerts

LETTER: Stop the spiral towards climate catastrophe

Former Green Party candidate pushes for rejection of Frontier Teck’s mining application

LETTER: Abortion sign does not convey motherhood message

Maple Ridge letter writer upset issue is being covered by local media, even as letter to the editor

Fomer soccer pro wants to elevate sport in Maple Ridge

Russ Huggon to hold high performance soccer camp in March

Maple Ridge Leisure Centre grand opening Sunday

Events begin at 1 p.m., and it’s all free

VIDEO: B.C. senior recalls ‘crazy’ wartime decision to grab bear cub from den

Henry Martens – now 96 – says he was lucky to be alive after youthful decision to enter a bear’s den

VIDEO: Giants winning streak now stands at 11

Team erased a 5-2 deficit by scoring every five minutes

Fiery collision involving truck closes Highway 1 at Three Valley Gap

Drivers should expect major delays and congestion

B.C., Ottawa sign sweeping 30-year deal for northern caribou habitat

West Moberly, Saulteau co-manage new protection on two million acres

Eyes on police after Trudeau orders blockades torn down, injunctions enforced

The RCMP in B.C. have sent a letter to the traditional leaders of the Wet’suwet’en Nation

B.C. massage therapist suspended following allegations of sexual misconduct

While suspended, Leonard Krekic is not entitled to practice as an RMT in B.C.

New Alberta forward joins Vancouver Giants’ ranks

new left-handed 18-year-old is a familiar face to Giants head coach Michael Dyck

‘A bag full of garbage every 15 metres’: Surrey industrial area filled with trash

Local workers looking to recruit business, raise funds to help dispose of litter

Cheapest in B.C.: Penticton gas prices dip below $1 per litre

Two stores in Penticton have gas below a dollar.

Most Read