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Property assessments up after strong sales in 2020

1/6/2021

1 Comment

 
The new year brings new assessments for property owners in BC. The real estate sector in Greater Victoria was a bright spot in 2020 and it's not surprising that assessments are up across the region.

A total of 8,947 properties sold last year, up 17.1% from 2019. The increased demand and limited inventory has raised house prices about 5 to 10% in the region.

In response, the province has raised the threshold for eligibility for the Home Owner Grant to $1.625 million. The province has also taken on administration of the grant, which was formerly done by municipalities.

To listen to Chamber CEO Bruce Williams discuss the state of real estate in Greater Victoria, check out our Chamber Chat with the Victoria Real Estate Board.
1 Comment
Bridge Dale link
8/30/2021 04:55:26 am

Property assessments will be up after solid sales in 2020, and I am not surprised by this. The reviews will only go up more, and we should be prepared for it.

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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews-articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us