Property assessments in Whistler for 2024 have declined slightly, according to the latest property assessments released by BC Assessment. Values were also down in Squamish, though Pemberton bucked the trend with a slight uptick in property assessments.
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Homeowners across Sea to Sky will soon start receiving their 2024 assessment notices, which reflect market value as of July 1, 2023.
Further north, Whistler properties assessment for single-detached homes has slumped by 2 percent, dipping from $2,902,000 in 2022 to $2,842,000 in 2023. For strata properties, which include condos and townhomes, there was a one percent dip in assessed values from $1,358,000 to $1,349,000. Several Whistler properties also appear in the annual list of Lower Mainland’s top-valued residential properties, with a $27 million home in Whistler Cay among the first 50 high-value homes.
District of Squamish saw a 1 percent dip in property assessments for single-family homes, sliding from $1,496,000 in 2022 to $1,475,000 in 2023. For condos and townhomes, the property assessment values in Squamish show a decline of 2 percent, from $844,000 to $830,000 in one year.
“Across the Lower Mainland and throughout B.C., the overall housing market has generally stabilized in value,” says BC Assessment Assessor Bryan Murao. “Most homeowners can expect only modest changes from -5% to +5%. These assessment changes are notably less than previous years.”
“Commercial and industrial properties are generally increasing in value at a higher rate than residential, especially in areas such as the Fraser Valley where properties are up in value due to limited industrial land,” adds Murao.
“Property owners can find valuable information on our website, including answers to many assessment-related questions. Those who feel that their property assessment does not reflect market value as of July 1, 2023, or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Assessor Bryan Murao.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by January 31 for an independent review by a Property Assessment Review Panel,” adds Murao.