What are the property taxes for the live work homes?
According to BC Assessment, valuation will be calculated on the value or the residential and commercial classifications, approximately 80% and 20% respectively. Therefore, the owner will pay 8.14% on the residential valuation and approximately 21.28% on the commercial valuation. If, however, BC Assessment determines that the value in the home is more weighted to the commercial component, then the percentage of commercial valuation could increase. – For more information, please contact Tracy Roy at BC Assessment 1-866-825-8322 X 04252