Chip Wilson Wins Appeal to Lower Vancouver Home Assessment
Chip Wilson mansion valuation drops after appeal, cutting Vancouver assessment by $18M See how B.C. ruled on the Point Grey waterfront home and what it means for 2026
Billionaire and Lululemon founder Chip Wilson has won a legal appeal that lowers the assessed value of his Vancouver waterfront mansion by more than $18 million.
A B.C. Property Assessment Appeal Board decision dated May 28 ordered BC Assessment to reduce the 2025 valuation of the Point Grey Road property to $64.4 million from nearly $82.7 million. Wilson had argued the home’s market value was closer to $55 million in July 2024 and that the assessment did not properly reflect what a buyer would pay on the open market.
The board said market conditions and price sensitivity could not be ignored, even for a large waterfront property with extensive amenities. The ruling also changes the ranking of British Columbia’s most expensive residential property, with another Vancouver home on Belmont Avenue now likely holding that title for 2026.