SURREY — A majority of Surrey homeowners saw property assessment increase between 34 per cent and 50 per cent, depending on which neighbourhood they live in, when they received their notices in the mail last week.
Typical single family residential properties in Surrey, comparing the 2016 assessment roll with 2017 assessed values, are seeing a 43 per cent increase in North Surrey ($701,000 from $491,600), a 36 per cent increase in Central Surrey (to $803,000 from $592,000), a 34 per cent increase in East Surrey ($846,000 from $630,000) and a 50 per cent increase in South Surrey — the highest increase in the region — to $1,196,000 from $790,000.
North Delta properties will typically see a 48 per cent increased change in value, to $850,600 from $573,400.
The lowest increases in assessed property value in the Fraser Valley region is 30 per cent, in West Maple Ridge (to 735,000 from $566,000).
Other typical changes in urban areas of the Fraser Valley Region include a 15 to 30 per cent increase in assessed values in strata units (such as condominiums) a 10 to 35 per cent increase for commercial properties and increases of 10 to 30 per cent for light industrial properties.
