Escalating office prices are not only affecting BC Assessment values, but influences Community Amenity Contributions (CACs)
Pricing for strata office space at Bosa Development Corp.’s 320 Granville Street tower continues to draw attention, but as Chuck We of Oxford Properties Group recently told commercial real estate association NAIOP, it might not be kind to downtown landlords.
“When BC Assessment sees that office space is now worth north of $2,000 a foot, that works back into their land valuations,” We said. “So when you go ahead and rezone they’ll happily collect taxes on that basis.”
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