B.C. Property Assessment
The view from Grouse Mountain
down on North and West Vancouver.In January home owners receive their Property Assessment for the new year. This notice gives the home owner an estimate of the value of their property split into Land and Buildings. It is based on the market value in the previous July and is generally a little conservative. The good news for us in BC is the value is still (generally) going up.
On your assessment, the Property Value section shows the market values for the land and building as of the preceding July 1, taking into account any changes to the property’s physical condition as of October 31st.
The total assessed value of the land and buildings minus exemptions (if any) is given, and the taxable value of the property is calculated.
Checking your assessment
Between January and March 15th you can look up assessments by address. I suggest that you check out how your property compares to other comparable ones in your area. This is your chance to make sure that your assessment is fair. Check out the assessments at http://www.bcassessment.bc.ca/
Pick your municipality and then your road to see the assessed values of each of the houses.
Appealing the assessment
You need to be quick if you want to appeal the assessment as you only have until January 31st. Note that property taxes cannot be appealed. Only property assessments, on which taxes are based, are subject to appeal. Therefore, it is important to review your assessment notice when you receive it.
If you disagree with the assessed market value of your property contact your local BC Assessment office before January 31. If, after talking to your local BC Assessment office, you still disagree with your property’s value you may request an independent review before a property assessment review panel. You must request this in writing by January 31st.
Once again you cannot appeal the property tax. By the time you get your property tax bill it is too late. You have to pay it.
Property tax bill
The bad news comes in May when the provincial and municipal government applies the going tax rate to your property and sends you a whopping bill, which is then payable in July.
The property tax notice that you receive allows you to claim the home owner grant.
BC Assessment contact details
There are two offices that cover the Vancouver area. Note that the Vancouver office deals with all strata properties on the North Shore.
North Shore
210 - 255 W. First St.
North Vancouver, BC
V7M 3G8
Phone: (604) 984-9751
Toll Free: 1-800-571-1211
Fax: (604) 984-9310
Email: northshore-squamish@bcassessment.ca
Vancouver
200 - 1818 Cornwall Ave.
Vancouver, BC
V6J 1C7
Phone: (604) 739-8588
Toll Free: 1-800-661-1780
Fax: (604) 739-8666
Email: vancouver@bcassessment.ca
