Appendix 2. Assessment Value Comparisons

BC Assessment predicts land values will triple in the Metrotown neighbourhood in 2017, as the actual value of the land, or the "improvements value" depreciates by roughly 90%. The current buildings will soon be worth next to nothing, as the land they sit upon increases exponentially. SDB spoke to a phone clerk to verify and found that for four different currently relatively affordable, low-rise apartment buildings in the Metrotown neighbourhood, this pattern was evident:

6615 Telford Avenue
Land Value:
2017: $20,311,000
2016: $7,042,000
Improvements Value:
2017: $37,000
2016: $5,853,000
6585 McKay Avenue
Land Value:
2017: $2,359,000
2016: $962,000
Improvements Value:
2017: $9000
2016: $909,000
6620 Sussex Avenue
Land Value:
2017: $18,743,000
2016: $6,498,000
Improvements Value:
2017: $28,000
2016: $5,436,000
6730 Dow Avenue
Land Value:
2017: $2,496,000
2016: $1,320,000
Improvements Value:
2017: $12,7000
2016: $901,000

A BC assessment phone clerk told a Stop Demovictions Burnaby organizer that for the "improvements value" to decrease by this much, it would essentially mean that buildings were nothing more than a pile of rubble in the ground. This is exactly what will happen to the neighbourhood if the Metrotown Downtown Plan passes, and it appears that government value monitoring systems are fully expecting this to happen.