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Modest increase in Tri-City property assessments

Assessments are based on the July 1, 2020, valuation for a property.
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Home assessments stayed steady despite COVID.

The global pandemic didn’t cool the real estate market in the Tri-Cities last year, according to numbers released Monday by BC Assessment.

Detached homes in Coquitlam typically went up 6% while single-family houses in Port Coquitlam rose 8% and 6% in Port Moody.

In the villages, Belcarra and Anmore property owners saw a 1% uptick each as of July 1, 2020.

That compares to assessment increases in Vancouver (10%); Squamish (10%); Maple Ridge (6%); New Westminster (6%); and Burnaby (6%).

For strata residential properties, Coquitlam and Port Coquitlam each had a 4% jump while Port Moody townhomes and condos went up 1%. The only municipalities to have higher increases for attached units were the city of North Vancouver, the district of North Vancouver and Maple Ridge.

"Despite COVID-19, the Lower Mainland residential real estate market has been resilient," BC Assessment Deputy Assessor Bryan Murao, BC Assessment deputy assessor, said in a press release. "For the most part, homeowners can expect relatively moderate increases in value. This incredible strength is a stark contrast to last spring when the market came to a temporary standstill whereas the remainder of the year had a very steady and rapid recovery."

Despite the stable residential market, commercial and industrial value changes have been mixed, he said.

Property owners across the province can expect to receive their 2021 assessment notices in the mail this week. You can also visit bcassessment.ca to check a property assessment online.

If property owners don’t feel their assessment reflects the market value as of July 1, 2020, or see incorrect information on their notice, they can contact BC Assessment at 1-866-825-8322 or visit bcassessment.ca.

 

Single-family home

City               2020 value        2021 value

Coquitlam     $1,122,00          $1,187,000

PoCo            $876,000           $944,000

PoMo            $1,192,000        $1,264,000

Belcarra        $1,318,000        $1,319,000

Anmore         $1,989,000        $2,013,000

 

Strata homes

Coquitlam   $537,000             $588,000

PoCo          $486,000             $506,000

PoMo         $617,000            $622,000

 

 

TOP ASSESSED VALUES IN THE TRI-CITIES

• 3333 Caliente Pl., Coquitlam: $8.5 million

• 185 Turtlehead Rd., Belcarra: $7.2 million

• 4593 Belcarra Bay Rd., Belcarra: $6.4 million

• 1080 Uplands Dr., Anmore: $6.2 million

• 3053 Anmore Creek Way, Anmore: $6.2 million

• 277 Turtlehead Rd., Belcarra: $5.9 million

• 2058 Ridge Mountain Dr., Anmore: $5.7 million

• 2610 Sunnyside Rd., Anmore: $5.6 million

• 1450 Crystal Creek Dr., Anmore: $5.4 million

• 4841 Belcarra Bay Rd., Belcarra: $5.3 million

• 748 Alderside Rd., Port Moody: $4.8 million

• 1122 Alderside Rd., Port Moody: $4.8 million

• 656 Alderside Rd., Port Moody: $4.7 million

• 956 Poirier St., Coquitlam: $4.7 million

• 1256 Alderside Rd., Port Moody: $4.6 million

• 3537 Mcvicar Crt., Coquitlam: $4.4 million

• 1136 Alderside Rd., Port Moody: $4.4 million

• 2966 Sunridge Crt., Coquitlam: $4.4 million

• 3486 Wessex Crt., Coquitlam: $4.2 million