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.”

Just Posted

Good Reads: A quilt for friends of the Maple Ridge Public Library

Quilt launch on Saturday, 11 a.m. – 12:30 p.m.

Country Fest brings new talent to the stage in Maple Ridge

Spencer Creek: Live Musical Showcase is at Country Fest on July 29th.

Along the Fraser: The wasp nest had to go

Give a hoot, don’t pollute is my motto.

Maple Ridge wants to limit number of auto wreckers

Staff writing up change to M2 industrial zone

Katzie Slough cleanup gets the go-ahead after last year’s cancellation

Volunteers are wanted to help clean Pitt Meadows’ Katzie Slough.

BC Games: Day 2 comes to an end

Hundreds of medals have been handed out at the 2018 BC Summer Games in the Cowichan Valley

B.C. mining company, involved in 2014 spill, ordered to pay lost wages

Mount Polley Mining Company must pay wages to 26 employees who were laid off without proper notice

Two significant wildfires burning in southeastern B.C.

More than 20 fires were burning in the Southeast Fire Centre as of Saturday afternoon

Volunteers provide the glue that keeps BC Games moving

The 2018 Cowichan Summer Games had more than 2,300 volunteers on hand across Vancouver Island

No Name brand chicken nuggets recalled due to possible salmonella

Canadian Food Inspection Agency says multiple illnesses reported in B.C., Alberta and Ontario

Lodeiro scores twice to help Sounders beat Whitecaps 2-0

Seattle’s Nicolas Lodeiro opened the scoring in the fifth minute when he converted a penalty kick

Fraser Surrey Docks mechanic dies on the job

‘This is a very sad day - a worker went to his job this morning and didn’t go home’

VIDEO: Critter Care opens its doors

Thousands attend open house at Lower Mainland wildlife rehabilitation centre

Race walker breaks 18-year-old BC Games record

Zone 6 athlete Olivia Lundman crossed finish line with ease, to loud cheers in Cowichan

Most Read