Billionaire Chip Wilson Wins Bid to Lower Vancouver Home's Assessed Value by $18m
The ruling cuts the mansion’s assessed value by $18.27 million after the board accepted comparable sales evidence, including a $43.7 million Vancouver transaction.
- The BC Property Assessment Appeal Board reduced the valuation of Lululemon founder Chip Wilson's waterfront mansion on Point Grey Road from nearly $82.7 million to $64.39 million on Thursday.
- Wilson appealed the original assessment, arguing BC Assessment ignored market conditions; board panel chair Audrey A. Suttorp agreed, citing a $43.7 million comparable sale on Blanca Street.
- The ruling reduces the value attributed to the structure and site improvements by more than 56 per cent, while the land assessment remains unchanged at $50.07 million.
- This roughly 22 per cent decrease means Wilson's residence is no longer the most expensive in British Columbia; a Belmont Avenue home is now likely the priciest.
- City of Vancouver data indicates the mansion faces a 2026 property tax bill of about $528,500 following this adjustment to the 2025 assessment roll based on July 1, 2024 values.
13 Articles
13 Articles
Vancouver billionaire Chip Wilson wins appeal to lower home’s assessed value by $18M
Billionaire and Lululemon Athletica founder Chip Wilson has won a legal challenge to lower the assessed value of his Vancouver waterfront mansion — long listed as the most expensive home in British Columbia — by more than $18 million.
The Toronto Star
Billionaire Chip Wilson wins bid to lower Vancouver home’s assessed value by $18m
VANCOUVER - Billionaire and Lululemon Athletica founder Chip Wilson has won a legal challenge to lower the assessed value of his Vancouver waterfront mansion — long listed as the most
Winnipeg Free Press
Billionaire Chip Wilson wins bid to lower Vancouver home's assessed value by $18m
VANCOUVER - Billionaire and Lululemon Athletica founder Chip Wilson has won a legal challenge to lower the assessed value of his Vancouver waterfront mansion — long listed as the most expensive home in British Columbia — by more than $18 million.
B.C. appeal board cuts value of Chip Wilson's Vancouver mansion by $18 million
The assessed value of lululemon founder and billionaire Chip Wilson’s waterfront mansion on Point Grey Road in Vancouver’s Kitsilano neighbourhood has been reduced by more than $18 million, after the province’s Property Assessment Appeal Board ruling found the property was worth significantly less than BC Assessment’s estimate. This appeal board is an independent tribunal that hears disputes over the annual property values determined by provinci…
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