Abbotsford home values jump by one-third in 12 months

Annual numbers released by BC Assessment show large increases in value

BC Assessment released its annual figures this week

Property values in Abbotsford increased on average by more than 32 per cent in just one year, according to BC Assessment, which released its annual figures across the province on Tuesday.

Such an increase means an average home, assessed at $420,000 last year, is now valued at $554,400.

All homeowners pay the same property tax rate, meaning those whose home values increased by more than the city’s average will see an increase in their tax bill, while those whose properties increased below the average rate (or decreased) are likely to see their bill shrink.

The City of Abbotsford, like all B.C. municipalities, sets a property tax rate based on the revenue that it projects it requires.

Months ago, city council determined tax revenue must increase by 2.13 per cent this year to cover inflation, infrastructure projects and the hiring of more police officers. The increase means a homeowner with a property valued at $529,000 will pay approximately $64 more in property taxes this year over last.

A sample of properties around Abbotsford shows that central areas of Abbotsford saw some of the most dramatic year-over-year increases in assessed values.

Many homes in the city’s urban core saw assessment hikes exceeding 50 per cent, with the value of many homes assessed between $300,000 to $400,000 increasing by around $200,000.

Many other areas also saw six-digit increases in assessed values. A sampling of homes through Assessment BC’s online tool (evaluebc.bcassessment.ca) suggests the McMillan area in the lower reaches of Sumas Mountain saw values rise between 30 and 40 per cent, as did areas of west Abbotsford.

BC Assessment has already sent warning letters to thousands of Abbotsford homeowners who will be seeing values increase beyond the local average, triggering higher property taxes. Around 12 per cent of all Abbotsford property owners – 5,600 owners in total – received such a letter.

Elsewhere in the Fraser Valley, both Langley and Maple Ridge saw increases of more than 35 per cent.

In Mission, property values increased by 33 per cent and in Chilliwack by 27 per cent.

– with files from Kelvin Gawley

Just Posted

Police sketch shows suspect in assault of 23-year-old woman

Incident took place Nov. 14 on Maclure Road in Abbotsford

An unpleasant surprise online for Langley anti-hate campaigner

Text from newspaper article about his efforts was used to link to suspect websites

Giants back in Langley hoping to continue winning streak

The G-Men defeated Royals in Victoria Saturday, the second triumph of the week over the same team.

Vancouver concert promoter bans Nazi symbols at shows

A man was witnessed making a Nazi salute during a heavy metal show at Pub 340

Langley’s assistant lacrosse captain tallies up five goals in Calgary loss

Stealth fell to Roughnecks, but hoping for comeback on Dec. 29 in New England.

VIDEO: Average Canadian food bill to rise by $348 in 2018

Atlantic Canada and B.C. will see the most increases for consumers

Sagmoen neighbours recall alleged hammer attack

Woman was screaming outside Maple Ridge townhouse in 2013

‘The Last Jedi’ opens with $220M, 2nd best weekend all-time

As anticipated, the movie fell shy of the opening weekend for J.J. Abrams’ 2015 franchise reboot

2 couples tie the knot in Australia’s 1st same-sex weddings

West Australian couple Anne Sedgwick, Lyn Hawkins have been together for 40 years

EDITORIAL: Putting #MeToo to work in your workplace

Workers from top to bottom need to stand together against the bully of sexual harassment

Update: RCMP arrest domestic assault suspect west of Kamloops.

The RCMP Emergency Response Team made the arrest at around 4:30 p.m.

Owl found dead after eating rat poison leaves B.C. woman concerned

After finding the owl on her Surrey property, Christine Trozzo says the poison is a concern for kids

Change to CPP death benefit panned as insufficient to cover funeral costs

Funeral Services Association of Canada lobbied governments to raise the value to $3,580

B.C. woman brain injured in crash as a baby gets $1.1 million in damages

Trial heard the woman was 16 months old, being carried by her mother when they were both hit

Most Read