Re: 2010 worst year for home sales since 1997

On Jan 20, 2011, at 10:44 PM, Peter T. Chattaway wrote:

> On Thu, 20 Jan 2011, Lance McLain wrote:
>> Vancouver area is in what you would call a bubble right now.
>
> Well, maybe.  We just got the property assessment for our current  
> home, and it's gone down in value again since the previous year.   
> Not by a whole lot -- it's not like we're "underwater" or anything  
> -- but still, it's down rather than up.  Then again, we technically  
> live in the city of Surrey, not Vancouver (which is half-an-hour  
> away by transit).

Just curious, but how do your property taxes work there?  Is there an  
annual reassessment, are there increase caps?

regards,
-Lance


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