Your 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:
- Exemptions (if any apply)
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.
Some of the characteristics the assessor compares are:
- Land surface (topography)
- Age and condition of buildings
If you notice an issue or have a question about your property assessment, contact BC Assessment to discuss your concerns. If your concerns are not resolved, an independent appeal process exists to have your assessment reviewed. The first level of appeal is to the Property Assessment Review Panel (PARP).
If you appeal, once a decision is made your property taxes may change; this change may result in a:
- tax decrease, you may qualify for a refund if you paid a higher amount of property taxes
- tax increase, you will pay a higher amount of property taxes