Some New West property assessments are topping the $4-million mark – but they’re nowhere near the top assessed properties in the province.
BC Assessment has provided the Record with a list of the Top 10 residential property assessment in New Westminster for 2024.
Like 2023, the property at 1238 Ewen Ave. in Queensborough still holds the top spot. Its assessment from $3,353,000 in 2023 to $4,587,000 in 2024.
Last year’s assessments marked the first time more than one property on New Westminster’s Top 10 list had topped the $3-million mark. This year, two properties on the Top 10 list have crossed the $4-million threshold.
A Queensborough property at 1255 Eckert Ave. was assessed at $4,015,000 in 2024.
Rounding out this year’s Top 10 list in New West are properties in the Queen’s Park, Queensborough and Glenbrooke North neighbourhoods: 209 Fifth Ave. ($3,638,000); 217 St. Patrick St. ($3,357,000); 209 Second St. ($3,338,000); 210 Phillips St. ($3,323,000); 310 Princess St. ($3,290,000); 124 Second St. ($3,271,000); 101 College Crt. ($3,251,000); and 411 Eighth Ave. ($3,228,000).
Like last year, assessment watchers may wonder why certain New West properties have higher assessments but aren’t included on the Top 10 list.
An example is a property at 417 Fifth St., which has been assessed at $5,031,000, and Honour House, located at 509 St. George St., which was assessed at $4,949,000 as of July 1, 2023.
According to BC Assessment, some properties may not be included on the Top 10 list of residential properties because they’ve been assessed with “multi-lot subdivision potential.” It noted that the intention of our Top 10 residential properties lists is to highlight the houses/condos that represent true residential properties, with the goal of filtering out development land.
Provincially, the top assessed residential property in B.C. is located at 3085 Point Grey Rd. in Vancouver. The property, belonging to Lululemon founder Chip Wilson, has been assessed at $81,765,000 in 2024 – up from last year’s $74,089,000 assessment.
The 2023 assessment notices reflect market value as of July 1, 2022.
