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
'The lost season': Winter comes to a close as Canada's warmest on record
The warmest winter on record could have far-reaching effects on everything from wildfire season to erosion, climatologists say, while offering a preview of what the season could resemble in the not-so-distant future unless steps are taken to cut greenhouse gas emissions.
Demand soars for solar eclipse glasses in Canada. Are they worth buying?
The demand for total solar eclipse glasses used to safely view the rare celestial event has been ramping up as sellers, along with astronomy and eye-care experts in Canada, warn that viewing the eclipse with the naked eye is dangerous.
Hertz CEO out following electric car 'horror show'
The company, which announced in January it was selling 20,000 of the electric vehicles in its fleet, or about a third of the EVs it owned, is now replacing the CEO who helped build up that fleet, giving it the company’s fifth boss in just four years.
NEW High thoughts: The habits of Canadian cannabis users are revealed in a new StatCan report
Statistics Canada has conducted a series of surveys to measure the impacts of legalized cannabis since the Cannabis Act took effect in 2018. The latest one, the 2023 National Cannabis Survey, sheds light on users' preferences and habits last year.
Freddie Mercury's home is on the market for first time since 1980 minus his 'exquisite clutter'
Freddie Mercury's sanctuary in London, where he lived the last decade of his life, is on sale for the first time in nearly half a century -- minus his "exquisite clutter."
NEW Where to watch the state funeral for former prime minister Brian Mulroney
A state funeral for former prime minister Brian Mulroney will be held in Montreal on March 23. CTV News will have live special coverage of his funeral service.
Trump says Jews who vote for Democrats 'hate Israel' and their religion
Former U.S. president Donald Trump on Monday charged that Jews who vote for Democrats 'hate Israel' and hate 'their religion,' igniting a firestorm of criticism from the White House and Jewish leaders.
NDP motion regarding Palestinian statehood passes after major Liberal alterations
A motion from the federal New Democrats initially calling on Canada to recognize the 'State of Palestine' passed amid widespread acrimony on Monday, after the Liberals drastically altered its wording to see the government simply work towards that aim as part of a two-state solution.
Retired teacher pleads guilty to paying for sex with 15-year-old in Collingwood, Ont.
In a Barrie courtroom on Monday, a retired high school teacher from the Niagara Region pleaded guilty to sexual touching and obtaining sexual services from a 15-year-old boy in Collingwood in 2021.