Three of the top five highest-assessed residential properties in Nanaimo-Lantzville are found on Dickinson Road. (News Bulletin file photo)

Three of the top five highest-assessed residential properties in Nanaimo-Lantzville are found on Dickinson Road. (News Bulletin file photo)

Top 10 highest-assessed properties in Nanaimo and Lantzville

Assessment notices indicate property values in Nanaimo increased 12 per cent

The highest-assessed houses in the area are found just north of Nanaimo’s city limits.

Lantzville again boasts the highest-assessed homes in the area, with three of the top five found along the seashore on Dickinson Road.

B.C. Assessments recently released new property assessment information. Lantzville’s highest-assessed residential property is 6970 Dickinson Rd., valued at $5.7 million, while Nanaimo’s is 4470 Burma Rd., valued at $4.8 million. Ladysmith’ three highest-assessed properties are all on Gill Road, with 303 Gill Rd. at the top of the list at $2.3 million. The assessments are intended to be an indication of market value as of July 1, 2022.

A typical single-family home in Nanaimo saw its assessment increase from $704,000 to $786,000 year over year, a 12-per cent increase. A typical condo went from $400,000 to $470,000, an 18-per cent increase.

A typical house in Lantzville saw an increase from $878,000 to $998,000, up 14 per cent, while a typical house in Ladysmith increased from $643,000 to $737,000, up 15 per cent.

“Homeowners across Vancouver Island can generally expect about 10-per cent to 20-per cent rise in assessment values with a few exceptions,” said Jodie MacLennan, B.C. Assessments deputy assessor for Vancouver Island, in a press release. “While the current real estate market has been trending downwards, it is important to consider that 2023 assessments are based on what your home could have sold for as of July 1, 2022, when the market was performing higher.”

B.C. Assessments reminds taxpayers that changes in home values don’t necessarily correspond to changes in property taxation; rather, a home’s assessment relative to other homes in its property class has a stronger correlation to taxation.

“As indicated on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes,” MacLennan said.

Property owners who feel their assessment doesn’t reflect market value should contact B.C. Assessment and if they still have concerns after speaking with an appraiser, they have until Jan. 31 to submit a complaint.

Assessment notices are in the mail now. For more information, visit http://bcassessment.ca.

Lantzville’s highest-assessed residential properties:

1. 6970 Dickinson Rd. $5,697,000

2. 7386 Sunbury Rd. $5,427,000

3. 6960 Dickinson Rd. $5,228,000

4. 6952 Dickinson Rd. $5,210,000

5. 7600 Harby Rd. W. $4,964,000

6. 6998 Strait Rd. $4,865,000

7. 7025 Aulds Rd. $4,440,000

8. 7088 Dickinson Rd. $4,203,000

9. 6940 Dickinson Rd. $4,025,000

10. 7156 Sebastion Rd. $3,986,000

Nanaimo’s highest-assessed residential properties:

1. 4470 Burma Rd. $4,820,000

2. 3372 Stephenson Point Rd. $4,730,000

3. 5025 Hinrich View $4,488,000

4. 5512 Hiquebran Rd. $4,259,000

5. 3384 Stephenson Point Rd. $4,069,000

6. 5508 Hiquebran Rd. $3,492,000

7. 3394 Stephenson Point Rd. $3,297,000

8. 3432 Stephenson Point Rd. $3,177,000

9. 3711 Ross Rd. $3,172,000

10. 3269 Ross Rd. $3,157,000

Ladysmith’s highest-assessed residential properties:

1. 303 Gill Rd. $2,280,000

2. 287 Gill Rd. $2,092,000

3. 307 Gill Rd. $1,949,000

4. 312 Roland Rd. $1,935,000

5. 319 Chemainus Rd. $1,913,000

6. 315 Holland Creek Pl. $1,912,000

7. 10675 S. Watts Rd. $1,901,000

8. 326 Morgan Rd. $1,746,000

9. 409 Blair Pl. $1,742,000

10. 417 Blair Pl. $1,741,000

Nanaimo’s highest-assessed commercial properties:

1. Woodgrove Centre $231,114,000

2. Harmac Pacific $109,648,800

3. Nanaimo North Town Centre $99,780,000

4. Country Club Centre $77,609,000

5. Port Place Shopping Centre $47,281,000

6. Longwood Station $36,167,000

7. Dickinson Crossing $35,910,000

8. Brooks Landing $34,287,000

9. Real Canadian Superstore $33,081,000

10. B.C. Ferries Departure Bay $27,999,000

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editor@nanaimobulletin.com

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