The value of residential properties in Delta is expected to decrease in 2020, according to BC Assessment.
Last week, the agency sent assessment notices reflecting market values as of July 1, 2019 to more than one million property owners in the Lower Mainland. According to BC Assessment, the value of single-family properties in the region is expected to drop between one and 16 per cent this year, while the value of strata residential properties (e.g. condominiums) is expected to drop by four to 10 per cent.
In Delta, the typical assessed value of a single-family home is expected to drop by nine per cent, from $1,003,000 to $917,000. The typical assessed value of strata residential properties, meanwhile, is expected to drop by four per cent, from $568,000 to $545,000.
2020 property assessments are currently available online at bcassessment.ca.
RELATED: B.C. assessed home values to dip 2.5% in 2020
Overall, the total value of real estate in the Lower Mainland is expected to fall by five per cent compared to 2019 — from about $1.48 trillion to about $1.41 trillion — with $18.6 billion of the region’s updated assessments coming from new construction, subdivisions and the rezoning of properties.
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Also released last week was BC Assessment’s list of the top 100 valued residential properties in the Lower Mainland, as well as the top 500 valued residential properties in B.C. No Delta homes made either list.
RELATED: Surrey, White Rock properties make list of most expensive properties in B.C.
SEE ALSO: Surrey, Abbotsford homes crack top 10 most expensive properties in B.C.
Based on 2020 property assessments, the city’s most valuable home is a 1.8-acre property located at 483 English Bluff Rd. in Tsawwassen. The 9,080-sq.-ft. three-bedroom/six-bathroom home, built in 1996, is valued at $5,860,000 ($4,353,000 for the land and $1,507,000 for the buildings). No data was available for the property’s 2019 assessed value.
Nine of the 10 highest-assessed homes in Delta are located in Tsawwassen; eight on the western edge between the BC Ferries terminal and the Canada/U.S. border, and one on Centennial Beach. The other property is in East Delta.
The 2020 highest-assessed residential properties in Delta are:
• 483 English Bluff Rd. — $5,860,000 (2019 value n/a)
• 515 English Bluff Rd. — $5,844,000 (-3.94 per cent of 2019 value)
• 436 Centennial Pky. — $5,760,000 (-3.08 per cent of 2019 value)
• 395 English Bluff Rd. — $5,489,000 (-4.37 per cent of 2019 value)
• 746 Tsawwassen Beach Rd. — $4,407,000 (-13.35 per cent of 2019 value)
• 1019 Pacific Dr. — $4,333,000 (-3.54 per cent of 2019 value)
• 748 Tsawwassen Beach Rd. — $4,310,000 (-10.25 per cent of 2019 value)
• 6003 104th St. — $4,275,000 (-4.98 per cent of 2019 value)
• 610 Tsawwassen Beach Rd. — $4,211,000 (-14.13 per cent of 2019 value)
• 413 Tsawwassen Beach Rd. — $4,187,000 (-3.97 per cent of 2019 value)
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The highest-assessed property in North Delta is a six-bedroom/four-bathroom home in the Panorama Ridge neighbourhood. Built in 1997, the 6,879-sq.-ft. home sits on a half-acre lot at 11932 Clark Dr. Its 2020 assessed value is $2,598,000 ($1,604,000 for the land and $994,000 for the buildings), down 1.6 per cent from its 2019 value of $2,640,000.
The 2020 highest-assessed residential properties in North Delta are:
• 11932 Clark Dr. — $2,598,000 (-1.59 per cent of 2019 value)
• 11695 Summit Cres. — $2,343,000 (-7.21 per cent of 2019 value)
• 5455 120th St. — $2,257,000 (-1.66 per cent of 2019 value)
• 11950 Clark Dr. — $2,168,000 (-1.41 per cent of 2019 value)
• 11900 Clark Dr. — $1,884,000 (-1.26 per cent of 2019 value)
• 11939 McKee Dr. — $1,863,000 (-0.85 per cent of 2019 value)
• 8901 118th St. — $1,854,000 (+88.24 per cent of 2019 value)
• 6573 Knight Dr. — $1,780,000 (-5.17 per cent of 2019 value)
• 10997 Lawrie Cres. — $1,778,000 (-6.03 per cent of 2019 value)
• 6612 Kempson Cres. — $1,777,000 (-5.38 per cent of 2019 value)
Check the map below to see the 10 highest-assessed single-family residential properties in Delta (red), and in North Delta (purple).
SEE ALSO: B.C. lowers limit to claim $570 home tax grant
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