Lululemon founder Chip Wilson's Vancouver home now worth $75M

By  Sarah Spegel | 

B.C. property assessments for 2017 are now available online, and homeowners have been warned of big increases

Tens of thousands of B.C. property owners have been warned about spiking 2017 assessments, and now they can check for themselves just what B.C. Assessment thinks their home is worth.

One of the most valuable houses in B.C. — owned by former Lululemon CEO Chip Wilson — is now assessed at $75,821,000, up nearly $12 million over last year.

Wilson's custom-built Point Grey Road mansion has topped the list of the most valuable properties in the province since 2014.

It took five years to construct on what used to be three waterfront lots, and is described by B.C. Assessment as having:

  • Seven bedrooms.
  • Nine bathrooms.
  • More than 15,000 sq. ft. of finished floor area.
  • On a 30,000 sq. ft. property.

B.C. Assessment has not yet released a list of top-valued properties for 2017.

The $75-million valuation is based on what B.C. Assessment believed Wilson's house was worth on July 1, 2016.

While July 1 is the valuation date used on all properties every year, it's notable this year because that was before the province announced its foreign buyers tax and sales began to slow.

You can look up the 2017 property assessment for any B.C. property on the e-valueBC website.

Last month, B.C. Assessment warned that many single-family homes in Greater Vancouver, Greater Victoria and the Central Okanagan had seen "significant" increases.

It also sent early notification letters to about 90,000 homeowners, warning they had higher than average increases.

Article Courtesy: www.cbc.ca/news/canada/british-columbia/property-assessment-2017-most-valuable-1.3918534