US EditionHow undervaluation of Vancouver sites could cost millions in property taxes
- Retired Architect Michael Geller appealed to the review panel in February after noticing a 'ridiculously low' valuation of $6,375,000 for his Vancouver property, which he felt was unfair compared to surrounding properties.
- Retired Appraiser Derek Holloway mentioned that British Columbia could be losing hundreds of millions in property taxes due to property underassessment.
- Renger, a retired senior development planner, praised Geller for his intervention, calling him 'a hero.'
- Holloway pointed out that bare trusts and deferred sale completion dates keep BC Assessment 'in the dark.
15 Articles
15 Articles
How undervaluation of Vancouver sites could cost millions in property taxes
VANCOUVER — Retired architect Michael Geller says he’s always keen to restore some “justice” to Vancouver’s real estate scene. So, when he noticed an official BC Assessment valuation of about $6.4 million on the site of a former heritage hotel in downtown Vancouver — about a third of its true value for tax purposes, by […]
How undervaluation of Vancouver sites could cost millions in property taxes – Energeticcity.ca
VANCOUVER — Retired architect Michael Geller says he’s always keen to restore some “justice” to Vancouver’s real estate scene. So, when he noticed an official BC Assessment valuation of about $6.4 million on the site of a former heritage hotel in downtown Vancouver — about a third of its true value for tax purposes, by Geller’s reckoning — he felt he had to act. “The point is we all go through life, and when we see things that aren’t fair, some …
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