Owning a Home
In British Columbia, about 70% of households own their own homes. For many British Columbians, owning a home is an important investment towards financial security, wealth generation and retirement savings.
Homeowners in B.C. pay annual property taxes. Learn more about the annual property tax.
The province’s Home Owner Grant can reduce the amount of property tax home owners pay each year. Learn more about the Home Owner Grant.
Some home owners can be eligible for property tax deferment programs. This includes home owners who are 55 years and older, a surviving spouse, a person with a disability and a parent, stepparent or someone who is financially supporting a child. Learn more about property tax deferment programs.
The annual property assessment significantly influences the amount of property taxes you pay. You will receive your property assessment notice from BC Assessment each year in January. Your property is assessed to determine its: value, classification, exemptions (if any). In most cases, the value is an estimate of your property's value as of July 1 of the previous year. To determine the value of your property, an assessor compares your property to actual sales in the same area.
If you notice an issue or have a question about your property assessment, contact BC Assessment to discuss your concerns. You may also file a Notice of Complaint to appeal your assessment. If you appeal, once a decision is made your property taxes may decrease, increase or stay the same.
A Property Assessment Review Panel or PARP is the first level of appeal for property assessments in British Columbia. Complainants file their complaint with the British Columbia Assessment Authority to have a 30 minute hearing before a Panel.
British Columbia is the only jurisdiction in Canada that protects a person's investment in a manufactured home by having a central register of ownership details and controlling the movement of homes within B.C.