A luxury West Vancouver mansion owned by prominent developer Holborn Group has been deemed correctly valued by British Columbia's Property Assessment Appeal Board, dismissing claims that the sprawling estate was over-assessed for property tax purposes.
The Property and The Appeal
The estate in question, located at 1669 Marlowe Place in the British Properties, is a monumental residence featuring 14 bedrooms and 17 bathrooms. With nearly 20,000 square feet of living space, the property also boasts an indoor swimming pool among its extensive amenities. For the 2025 assessment year, the property was valued at approximately $73 million.
Holborn Group, the real estate development company behind the project, filed an appeal with the BC Property Assessment Appeal Board, arguing the assessed value was excessive and did not accurately reflect the property's market value. The appeal process involved a review of comparable sales, construction costs, and the unique characteristics of the luxury home.
Board's Decision and Rationale
In a decision finalized at the end of December 2025, the appeal board ruled in favour of the original assessment. The panel concluded that the valuation by BC Assessment was fair and supported by the evidence. The board found that the assessment methodology appropriately considered the property's size, luxury finishes, location, and the current high-end real estate market in West Vancouver.
The ruling means Holborn Group's property tax liability, calculated based on the $73 million valuation, will stand. The decision underscores the challenges in assessing unique, ultra-high-value properties where direct comparables are scarce.
Context and Significance
This case highlights the ongoing scrutiny of property valuations in British Columbia's most exclusive neighbourhoods. West Vancouver's British Properties is known for some of the most expensive real estate in Canada. Disputes over assessments are not uncommon, but appeals involving properties of this extreme value are closely watched as they can set precedents for how similar estates are valued for taxation.
Holborn Group is a significant player in the Vancouver development scene, known for large-scale projects. The company's decision to appeal the assessment on its own corporate-owned mansion reflects the substantial financial stakes involved in municipal property taxes for high-value assets.
The Property Assessment Appeal Board's ruling provides a degree of finality to this specific case, affirming the authority of BC Assessment's valuation process for one of the region's most notable luxury homes.
