East Vancouver homeowner's bid for $1 million increase to property assessment rejected
B.C.'s Property Assessment Appeal Board has rejected an East Vancouver homeowner's argument that his property was undervalued by more than $1 million in its most recent assessment.
Harvey Oreck appealed the $2,899,000 assessed value of his home at 3422 Triumph St. in Vancouver earlier this year, arguing that it was actually worth closer to $4 million.
"The appellant’s main contention is that the property’s assessment is too low and does not reflect the high quality of the home, level of finishing, and view," wrote PAAB panel chair Larry Dybvig in his decision on the appeal.
"He says the value of the property is $3,975,000."
Oreck based his appeal on the assertion that there are no comparable properties in the area and that the assessor should have instead based the home's value on the cost of replacing the structure.
The assessor for Area 09, Vancouver Sea to Sky Region, disagreed, offering three comparable properties located outside Oreck's immediate neighbourhood that Dybvig ultimately agreed were sufficiently similar to Oreck's home.
The home in question is a 3,464-square-foot single-family dwelling built in 2017. It has a 511-square-foot laneway home, which rents for $1,975 a month, and a two-car garage that opens onto the lane.
The structure is built on a 48-foot wide, 5,856-square-foot view lot on Triumph Street, less than a block away from the Cassiar Connector and Highway 1.
According to Dybvig's decision, the assessor noted that the lot's views of Coal Harbour and the North Shore mountains are positives, but the noise from the PNE and the highway detract from the location's value.
"The appellant says the noise is not a problem, because the triple-paned windows make the home 'virtually completely silent, except for motorcycles and sirens,'" Dybvig wrote.
And while the homeowner submitted a letter from a realtor, who offered his "considered opinion" that the home is worth between $3,875,000 and $4,075,000, the appeal board remained unconvinced.
"The realtor's letter provides no support for this opinion, no methodology, data or analysis in support of this opinion and no indication of his qualifications," Dybvig wrote.
The chair acknowledged that valuation is "not an exact science," but said the home's 2021 assessment appears to fall within the range of value tolerated in appraisal.
CTVNews.ca Top Stories
Cisco reveals security breach, warns of state-sponsored spy campaign
State-sponsored actors targeted security devices used by governments around the world, according to technology firm Cisco Systems, which said the network devices are coveted intrusion points by spies.
Student anti-war protesters dig in as faculties condemn university leadership over calling police
Students protesting the Israel-Hamas war at at universities across U.S., some of whom have clashed with police in riot gear, dug in Saturday and vowed to keep their demonstrations going, while several school faculties condemned university presidents who have called in law enforcement to remove protesters.
opinion RFK Jr.'s presidential candidacy and its potential threat to Biden and Trump
Although it's still unclear how much damage Robert F. Kennedy Jr.'s candidacy can do to either Joe Biden or Donald Trump this election, Washington political columnist Eric Ham says what is clear is both sides recognize the potential threat.
Toxic testing standoff: Family leaves house over air quality
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
I just don't get Taylor Swift
It's one thing to say you like Taylor Swift and her music, but don't blame CNN's AJ Willingham's when she says she just 'oesn't get' the global phenomenom.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
Hamas is reviewing an Israeli proposal for a ceasefire in Gaza, as possible Rafah offensive looms
Hamas said Saturday it was reviewing a new Israeli proposal for a ceasefire in Gaza, as Egypt intensified efforts to broker a deal to end the months-long war and stave off a possible Israeli ground offensive into the southern Gaza city of Rafah.
'The world is too messy for bureaucratic hurdles': Canada still bars Afghanistan aid
Ottawa has plans to finally stop blocking Canadian development aid to Afghanistan this year.
Russia renews attacks on the Ukrainian energy sector as Kyiv launches drones at southern Russia
Russia launched a barrage of missiles against Ukraine overnight, in attacks that appeared to target the country's energy infrastructure. Meanwhile, Russia said its air defense systems had intercepted more than 60 Ukrainian drones over the southern Krasnodar region.