Contamination Impact on Land Value

Jan 15, 2019

The 2018 Property Assessment information has now been announced. Commercial property values in Greater Vancouver increased between the 5% – 50% range. BC Assessment’s evaluation of Greater Vancouver includes the North Shore, Squamish, Burnaby, the Tri-Cities, Richmond and Surrey. The commercial property values in the Fraser valley increased between 5% to 35% in 2018. To learn more about the results of the 2018 BC Assessments, click here!

BC Assessment’s do not take into consideration if a 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, 2019. The environmental liability associated with a property can be determined by reviewing existing environmental reports and comparing the data with the current standards.

For more information, please contact Raminder Grewal at 604-430-0671 or rgrewal@nullkeystoneenvironmental.ca.

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