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Richmond News

Council suggests tax deferrals as thousands lose homeowner grant

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,

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Homeowner Grant stiffs younger generation of Richmondites

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.


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Transportation costs bog down Richmond’s newly minted millionaires: Yan

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,

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Some home buyers benefit but not in Richmond

Vancouver Sun / Richmond News, February 19, 2016

If you are a first-time buyer and you are buying an existing home, you are out of luck — you must still pay the transfer taxes on all sales over $475,000.

But if first-time buyers want to buy a newly built house, the thresholds to avoid paying the transfer tax have now been increased to $750,000 (for a full exemption) and $800,000 (partial exemption).

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Line land could be lucrative

Alan Campbell, Richmond News, August 22, 2008

Investing in real estate within 500 metres of three of Richmond’s new Canada Line stations could spark a cash bonanza.

A report released this week by real estate experts Landcor Data Corporation predicts it might take a few years for property values to increase substantially.

But the report adds that Richmond’s current plans for urban villages near the stations makes the city more prepared than anywhere along the line for the arrival of the Canada Line.

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