Tri-City News January 4 2017

Page 1

TC

ONLINE 24/7: TRICITYNEWS.COM

INSIDE: SD43 scrambles to deal with snow & ice [pg. 6] / TC Sports [pg. 17]

TC ARTS/ENTERTAINMENT: 11

Popowich creates art after a crash

WEDNESDAY, JAN. 4, 2017 Your community. Your stories.

TRI-CITY

NEWS

PLUNGING INTO 2017 IN PORT MOODY

ROBERT MCDONALD PHOTO

Frigid temperatures may have kept numbers lower than usual for the annual Penguin Plunge on New Year’s Day at Port Moody’s Rocky Point Park. For more photos and information, please see page 3.

PROPERTY ASSESSMENTS

How much is your home worth now? Homeowners hit with big hikes in their assessments JANIS CLEUGH

The Tri-CiTy News

Here’s the good news: Many Tri-City homeowners will get

reveal the assessed values based on sales as of July 1, 2016 — a month before the B.C. government imposed the foreign buyers’ tax, a 15% surcharge that subsequently cooled sales. This week’s notices also come out a month after the opening of the Evergreen

letters this week to tell them their houses are worth more than $1 million. The bad news: That assessment is based on a real estate market that was red-hot last year and is as cold as the weather today. The 2017 notices that BC Assessment sent out Tuesday

Extension, a $1.3-billion rapid-transit line that will likely increase 2018 values for properties surrounding it. Indeed, many singlefamily homeowners — from Squamish to Surrey — will see their valuations jump hundreds of thousands of dollars this year.

The spike is so high for some property owners that BC Assessment mailed out letters last month to about 81,000 residents around the province to warn them about their higherthan-average hikes. While municipal officials say the lift doesn’t necessarily translate into higher property

taxes — they dial down tax rates to compensate for the increases — Tri-City realtor Léo Bruneau said owners of single-family dwellings need to be financially ready for when their tax bills come from the city. see CALLS FOR INCREASE, page 4

CONTACT THE TRI-CITY NEWS: newsroom@tricitynews.com / sales@tricitynews.com / circulation@tricitynews.com / 604-472-3040

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