January 1, 2017 7:12 pm
Updated: January 3, 2017 3:03 pm

Chip Wilson’s Vancouver home now worth over $75 million

WATCH: What are the top 5 most expensive residential properties in B.C.?

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The winner for Vancouver’s most expensive home in 2017 is likely Chip Wilson’s Kitsilano mansion – once again.

The Lululemon founder’s pad at 3085 Point Grey Rd. has been assessed at $75,821,000, a whopping $12 million more (18 per cent) than its 2016 assessment.

It was valued at $57.6 million in 2015 and $54 million in 2014.

At 15,694 square feet, the home sits on a waterfront lot on the exclusive “Golden Mile,” which houses many of the city’s most luxurious multi-million dollar homes.

If Wilson’s assessment is the same as his property’s taxable value, that means he would be paying $239,594 a year in property taxes based on 2016 rates.

A satirical sign covers the street sign on Point Grey Road near Chip Wilson’s house in 2014.

Stephen Rees / Flickr

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His wasn’t the only one of Vancouver’s priciest homes to shoot up in value.

B.C.’s second most expensive home in 2016, 4707 Belmont Ave. on Vancouver’s West Side, increased from $57,058,000 to $69,208,000, up 21 per cent.

The data comes from B.C. Assessment’s 2016 assessment notices that property owners will receive this month. The values are already available online via E-Value, so homeowners can get a preview of how much their properties increased in price.

READ MORE: Metro Vancouver home assessment values to rise by up to 50% this year

The agency warned last month that most assessments around Metro Vancouver would show increases of between 30 and 50 per cent, but some residents have commented their values increased by over 60 per cent.

Many were also concerned the increases would disqualify them from the B.C. Homeowner Grant which lowers the amount of property taxes due for homes worth under $1.2 million.

You can check out the value of your home and others’ online here.

© 2017 Global News, a division of Corus Entertainment Inc.

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