Impact of Contamination on Land Value

January 24, 2017

Commercial property values in Greater Vancouver increased between 15 to 30%. BC Assessment’s evaluation of Greater Vancouver includes Vancouver, the North Shore, Squamish, Burnaby, the Tri-Cities, Richmond and Surrey. The commercial property values in the Fraser Valley increased 10 to 35%.

BC Assessment does not take into consideration if the property is contaminated. As many are aware, contamination reduces the value of the land. The deadline to file an appeal with BC Assessment is January 31, 2017. The environmental liability associated with a property can be determined by review existing environmental reports and comparing the data with the current standards. For more information, contact Raminder Grewal at 604.430.0671