North Van vet braces for tax hit from soaring property assessment


North Vancouver veterinarian Arminder Brar was surprised to open the 2019 property assessment for his clinic in Delbrook Plaza and find it had increased 77 per cent, which has him concerned about what that will do to his 2019 property taxes.

An increase in a property assessment doesn’t automatically mean an increase in taxes, but Brar’s is well over the average 25.4-per-cent rise in the average commercial property assessment for the District of North Vancouver, according to B.C. Assessment. That indicates the property will become a bigger portion of the district’s overall commercial tax base, with a correspondingly larger tax bill.

“(I’ve been) here for the last 15 years, but now I’m worried that my taxes will go up,” said Brar, who has taken note of the number of businesses that have struggled to keep up with rapidly changing shifts in property taxes due to increasing real estate values. “People feel happy that their appraisal is up, but they don’t understand the consequences.”

The ballooning of commercial property values, which creates bigger tax burdens for small businesses, has been an increasing problem across Metro Vancouver.

Postmedia News reported last week on a long-running Burnaby grocery-store owner contemplating closure due to a 37-per-cent increase to their rent, driven mostly by the increasing value of the property it occupies.

North Vancouver, BC: JANUARY 08, 2019 — Dr. Arminder Brar at his North Vancouver pet clinic, Delbrook Mall Animal Hospital, Tuesday, January 8, 2019. The property assessment on Brar’s clinic rose 77-percent this year. (Photo by Jason Payne/ PNG) (For story by Derrick Penner) ORG XMIT: businessassessment [PNG Merlin Archive]

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Dr. Arminder Brar at his North Vancouver pet clinic, Delbrook Mall Animal Hospital, Tuesday, January 8, 2019.

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Source:: Vancouver Sun

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