BC Tax Assessment Does not Determine True Value It’s true, it has zero correlation to how much your home is actually worth on the market. Let me explain. Too many times buyers will look at the BC tax assessment for a property and they will see that the assessed value does not line up with what the seller is asking. They make a huge case that the property is over priced and negotiations become tense. The hard part can be trying to educate them that the BC tax assessment has zero relevance when determining what a property is actually worth on the market. If you look at sold properties and compare them with their BC tax assessment you will see that the numbers are generally way off, sometimes by a couple hundred thousand. Let’s break it down.  A loft on Beatty Street has an assessed value of $641,000 yet sells for $815,000. A condo on Hornby street is assed at $254,000 yet sells for $362,500. The list goes on and on. There’s nothing special about these units other than the fact that BC assessments mean nothing when determining a homes worth, period. BC tax assessments are strictly used by the

Vancouver laneway apartments are set to be the first of it’s kind. Vancouver could be setting a new trend. They recently announced 4 new laneway apartment buildings in the West End. Consisting of 47 units in total. They are the very first of it’s kind and developers are hoping to see this as the next big trend. The goal is to eventually produce 1000 new homes in the Downtown Vancouver area, specifically the West End. Laneway housing has always been popular for families on a budget and they hope these projects will do the same. The city is requiring half of them to be either 2 or 3 bedrooms that are accessible on the ground floor. The project aims to be an alternative for families who want to stay in the city but are looking for a cheaper alternative. My only concern is that everyone already has a negative reputation on alleys. So when your target audience is families it makes me wonder just how safe they’re going to feel walking down an alley at night to get to their front door. Or what about all the crime that potentially happens right outside your front door while you’re sleeping. The