Posted: Jan. 3, 2023 4:32PMHomeowners on Vancouver Island are set to receive their 2023 property assessments over the coming days and typical single-family home values areThe assessments are a snapshot of market value as of July 1, 2022 and show a 12 per cent rise in values across the province.
The fast-growing West Shore communities saw the highest single-family home increases, with Colwood topping the list after typical valuations jumped from $881,000 in 2021 to more than $1-million in 2022 — a 16 per cent jump. Some homeowners may have expected lower increases in their property values or even a decline due to the market cooling off, but those likely won’t be reflected until assessments come out next year, according to Vancouver Island deputy assessor Jodie MacLennan.
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