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Coquitlam, Port Moody and Port Coquitlam home value increases- Evergreen Line

January 12, 2012

Filed under: Real Estate Market,Vancouver — Richard Morrison @ 1:53 pm
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Some homeowners in the coquitlam neighbourhoods of Burquitlam and Maillardville will see their residence principles leap by as much as 25% this season.

The BC Assessment Authority (BCAA) published its 2012 roll for the Tri-Cities, Burnaby and New Westminster, displaying an increase as much as 15% for the North fraser location.

Deputy assessor Zina Weston said the coquitlam  “pockets” of Maillardville and Burquitlam as well as along Murray Street in Port Moody are the illustrates, with latest rezoning changes for duplexes and heritage improvements in Maillardville plus new development for the future Evergreen Line through Burquitlam and Moody Center as being the generating aspects for the high assessment in those places.

Property assessment letters were sent out last Friday and most homeowners should be getting their assessment letter in the mail later this week, Weston said.

Property owners seeking to appeal their assessment have until Jan. 31. The assessment workplace is placed at 420-2700 Production Way, Burnaby.

To view your assessment online, go to www.bcassessment.ca and press on the e-valueBC hyperlink. If you have not obtained your assessment notice in the mail by mid-month, contact 1-800-661-6343.

The assessment indicates market value as of July 1, 2011, and offers the basis for taxing authorities, like municipal governments, to increase levies every year.

City personnel change the taxes amount to indicate the average increase for each property class. The tax amount per thousand dollars of a property’s assessed value is altered to fit with within the city’s budget to pay for capital and operating costs. Simply put, city council government choose how much cash they need to run social business for the year, then customize their tax charges to get that cash based on assessed values (coquitlam is predicted to adopt its budget on March 5).

In April, after assessment appeals are finished, city council will change the tax amount before municipal property taxes are due on July 1.

But while cities control taxes under their legislation, they have no say over the amount charged by other agencies that it gathers for, such as Metro vancouver and TransLink. Municipalities are required to include those prices on the property tax expenses and pass the money on to the other governments or agencies by August — whether or not the taxes are compensated by the homeowner.

Current property values and change over 2011, by neighbourhood:

coquitlam

• Central coquitlam, 1960s single-family home, $724,000 (up $28,000)

• Maillardville, 1950s single-family home, $621,000 (up $74,000)

• Ranch Park, 1970s single-family home, $641,000 (up $18,000)

• Westwood Plateau, 1997 single-family home, $918,000 (up $50,000)

• Oxford Heights, 1990s single-family home, $657,000 (down $31,000)

• New Horizons, 1980s single-family home, $544,000 (up $19,000)

• Burke Mountain, 2010 single-family home, $839,000 (up $62,000)

• Strata high rise, 2009 two-bedroom, $372,000 (up $11,000)

• Strata low rise, 1992 two-bedroom, $254,000 (up $2,000)

• Strata townhouse, 1989 three-bedroom, $362,000 ($15,000)

 

PORT coquitlam

• Mary Hill, 1960s single-family home, $467,000 (down $3,000)

• Citadel Heights, 1990s single-family home, $678,000 (up $24,000)

• Lincoln Park, 1970s single-family home, $486,000 (down $8,000)

• Citadel Heights, 1994 strata townhouse, $524,000 (up $15,000)

• Citadel Heights, 1988 strata townhouse, $442,000 (up $16,000)

 

PORT MOODY

• College Park, 1960s single-family home, $601,000 (up $33,000)

• North Shore, 1970s single-family home, $812,000 (up $40,000)

• Heritage Woods, 1995 single-family home, $884,000 (up $30,000)

• Strata high rise, 2005 two-bedroom, $351,000 (down $12,000)

• Strata low rise, 1996, two-bedroom, $348,000 (up $7,000)

• Strata townhouse, 1990 three-bedroom, $311,000 (up $7,000)

 

The North fraser region assessment roll since 2006:

2006: $73 billion

2007: $89 billion

2008: $102.1 billion

2009: $104.2 billion

2010: $104.7 billion

2011: $116 billion

2012: $124 billion

 

Source: Tri-Citynews.com

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