The highest assessed properties in the CRD are all in Oak Bay.
BC Assessment released their annual report Wednesday and Oak Bay tops the local lists. Nine of the top 10 valued properties in the CRD are in Oak Bay. Five of which made the province-wide top 500 list, the only ones from the CRD to do so. Here are the top five:
- 3160 Humber Rd.: $16,169,000
This single family residence sits on 1.87 acres of property. Built in 1996, the house has five bedrooms and seven bathrooms. Since 2015, the assessed value of the property has increased by $6,617,000.
- 3195 Humber Rd.: $15,397,000
Located across the street from 3160, this acreage was the highest assessed property in the region until 2018. The 2.33 acre lot has a seven bedroom and nine bathroom house built in 1939. Since the 2015 assessment, the value of this property has increased by $2,546,000.
- 3150 Rutland Rd.: $12,522,000
Like 3160 Humber, this 2.248 acre lot also contains a five bedroom, seven bathroom house, built in 1914. Since 2015, this property has increased by $3,039,000.
- 3155 Beach Dr.: $12,113,000
Newly built in 2015, the property has the second highest valued building on this list, worth $4,479,000. The house has four bedrooms accompanied by eight bathrooms, and has had its assessed value increase by $6,639,000 since 2015.
- 963 Beach Dr.: $11,930,000
Despite having the smallest lot on this list – 1.133 acres – and only having three bedrooms, this property has the highest assessed building value of $5,140,000. The house was built in 2008, and the property itself has increased in assessed value by $3,592,000 since 2015.
Year to year, the physical properties that make up the top lists in the province don’t change a whole lot, said B.C. Assessment spokesperson Tim Morrison.
“The addresses are very similar, it’s just the amounts that obviously change year to year,” Morrison said. “Once you get into these high end, it’s like if there’s something that’s $56 million, if it’s one year $53 million and the next year $58 million, it’s all pretty relative.”
Morrison went on to note that these properties tend to go up and down in assessments together and that the lists won’t change a whole lot until the next mega mansion is built.
Overall, Oak Bay’s average assessed value increased six percent over last year to $1,222,000.