Privately owned James Island again topped the list of South Vancouver Island’s highest assessed properties, according to data from BC Assessment. (Sotheby’s International Realty photo)

Privately owned James Island again topped the list of South Vancouver Island’s highest assessed properties, according to data from BC Assessment. (Sotheby’s International Realty photo)

Seven south Island properties make list of B.C.’s top valued residences

Privately owned island at centre of lawsuit tops list, again

A handful of Greater Victoria properties made BC Assessment’s list of the 500 top-valued residential properties in the province last year.

BC Assessment’s 2021 report uses data on residential properties in the province as of July 1, 2020. All of the region’s municipalities saw an appreciation in median property values.

The top valued Greater Victoria property was James Island off the Saanich Peninsula near Sidney – a site that’s earned the top spot several times. It’s also central to a lawsuit by a local First Nation. In 2018 the Tsawout Nation filed against the federal and provincial governments for the return of the island claiming it as part of an 1852 treaty.

The 770-acre property was valued at $57,980,000 in July 2020, up more than $1.2 million from the year prior. The land contains a one-storey house with four bedrooms and five bathrooms valued at roughly $6.5 million. The property’s assessed value is the third highest in the province.

READ ALSO: Home values surge across Greater Victoria

A North Saanich acreage at 1850 Lands End Road valued at roughly $14 million comes in at 195 on the list. The 25-acre piece of land features a three-bedroom, three-bathroom house built in 1983. In 2020 its assessed value jumped nearly $2 million from 2019.

A single-family residence in Oak Bay comes in at 199, the property at 3160 Humber Rd. has a $13.9 million assessed value – with more than $10 million attributed to the 1.87-acre plot of land. The custom two-storey house on the property has five bedrooms and seven bathrooms. It was built in 1996.

In the Gulf Islands, an acreage on Domville Island takes spot 357 and an acreage on Forrest Island takes spot 434.

Two other Oak Bay properties made the top 500 – a 1.13-acre property at 963 Beach Dr. and a 2.2-acre property at 3150 Rutland Rd. The Beach Drive property is valued at $10.7 million and the Rutland Road property is valued at $10.8 million.

READ ALSO: Don’t agree on your property assessment? Here’s what to do


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