The house that lycra built is worth its weight in gold.
According to B.C. Assessment’s 2015 roll, released Friday, Lululemon founder Chip Wilson’s Kitsilano home is the most valued residential property in British Columbia.
The mansion on Point Grey Road was assessed at $57,595,000.
Wilson’s waterfront abode is the most valuable B.C. residence for the second year in a row.
In 2014, it was assessed at $54.2 million up from $35.2 million in 2013 when it was still under construction.
Two other properties cracked the $50 million mark this year, acreage on James Island in the gulf islands ($51,521,000) and a single-family home on Belmont Avenue in Vancouver’s Point Grey neighbourhood ($50,126,000).
Sixteen of the Top 25 valued properties in the province are located within City of Vancouver limits, four others are in the District of West Vancouver and three are on UBC’s University Endowment Lands.
Overall, the Vancouver Sea to Sky region’s assessment roll increased to $407.1 billion this year, from $375.1 billion.
“Most homes in the Vancouver Sea to Sky region are worth more in value compared to last year’s assessment roll,” said B.C. Assessment deputy assessor Dharmesh Sisodrak in a statement. “Most home owners … will see changes up to +15 per cent.”
The Fraser Valley’s assessment roll also increased to $94.3 billion this year, from $90.7 in 2013.
Most owners in the valley will see assessment changes within +/- five per cent, the office said.
The total value of real estate throughout the province in 2015 is assessed at more than $1.2 trillion, up 5.84 per cent from 2014.
Owners of more than 323,000 properties in the Vancouver Sea to Sky region and 193,000 properties in the Fraser Valley will be receiving their assessment notices shortly.
Any owners who feel their assessment doesn’t reflect the market value of their property, as of July 1, 2014, or see incorrect information are asked to contact BC Assessment this month.
The assessments can also be appealed and reviewed by a review panel.