How Does The BC Property Assessment Affect Homeowners And Is It Accurate?

January 25, 2019

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BC Assessment has recently sent out their Annual Property Assessment Notice. But what does that mean for homeowners and how accurate is the appraised value?

 

BC Assessment uses a professional appraisal staff to review and consider many different variables to a property – from the zoning to the property’s unique characteristics, and many more. The assessment is sent to homeowners and a separate assessment roll is sent out to tax authorities which will be used to set tax rates in their jurisdiction.

The BC Assessment value SHOULD NOT be confused with the current MARKET VALUE of your home. Your property assessment may differ from a real estate appraisal or even on a bank mortgage appraisal because BC Assessment only reflects the value of the home as of July 1 of the previous year, while a private appraisal can be done at any time. If you want to know a more accurate assessment of your home feel free to CALL or TEXT me at 604-506-0953 for a free home evaluation.

 

Single-family homes:

Residential Strata Properties: