Graeme Wood, The Richmond News, Jan 12, 2017
Property tax burdens are expected to shift further from condo and townhouse owners to those of detached homes, in Richmond this year.
According to Landcor Data Corporation, average assessed values for condos are up 15 per cent; townhouses spiked 32 per cent; and detached homes went up 44 per cent. The City of Richmond reports the overall average increase to residential properties,
Graeme Wood, The Richmond News, Jan 12, 2017
It’s difficult for University of B.C. associate professor Paul Kershaw, founder of advocacy group Generation Squeeze, to understand the rationale behind giving “paper millionaires” $821 million worth of property tax grants.
“It’s not clear to me any longer why we’re talking about the Homeowner Grant. People are accruing so much wealth in their homes while they’re sleeping,” said Kershaw.
Meanwhile,
Graeme Wood, Richmond News, Dec 21, 2016
It’s a “Boxing week extravaganza,” with prices you may never see again, says urban planner Andy Yan, referring to his map of Richmond with 2016 property values.
Come early January, BC Assessment will have sent out all of its 2017 property value assessments for Richmond, and every detached home property is expected to crest the $1 million mark.
“Single-family property values are uncoupled from local incomes and continue to increase outside the range of incomes,” said Yan,