It’s a hot topic around the water cooler these days: skyrocketing Lower Mainland property assessments.
On the North Shore, typical single family homes are showing increases of between 15 and 25 per cent, according to area assessor Jason Grant with B.C. Assessment.
The financial strain is enough to make some homeowners lose sleep, as is the case with one North Vancouver woman whose property is up over 20 per cent in value this year – to over $1.4 million.
For seniors there is a bit of a reprieve, as they are allowed to defer their property taxes at a small interest rate until the home sells.
For other property owners, they may be left pulling their hair out for the time being
