"Mr. Bendtsen’s property at 405 Railway was just assessed at $14.512-million, up from $5.751-million last year. In 2016, he paid $68,852 in taxes. Based on the 2017 value, his taxes will be an estimated $175,000."

That is a larger than average increase to be sure, but taxes will not increase by 2.5x as the article states; all these increased values will determine the mill rate, and overall taxes in Vancouver are reported to be going up 3.9%. The assessed value of my home went up about 40%, but I expect this to be about average and therefore I will be paying a tax increase of about 3.9%.