Frequently Asked Questions (FAQ)

What is BC Assessment?

BC Assessment is a provincial Crown corporation that classifies and assesses the value of all real property in British Columbia. On December 31, BC Assessment sends property owners an Assessment Notice indicating the fair market value of their property as of July 1 of that year.

What is an assessment?

An assessment is the determination of a property's market value, classification and exemptions as of July 1 each year. On December 31, BC Assessment mails an Assessment Notice to each property owner in the province that indicates its market value. Taxing authorities (provincial and municipal governments) use a property's assessed value as the basis for determining the amount of municipal and provincial property taxes owners will pay.

What is market value?

Market value for assessment purposes is the price an unencumbered property would sell for on July 1 of the preceding year if a reasonable amount of time is allowed to find a purchaser.

How is an assessment of property made?

BC Assessment has professional appraisal staff and an extensive database that is periodically updated with information gathered through appraisal inspections. Municipal and provincial agencies inform BC Assessment of land title changes, building permit approvals and zoning adjustments. Unique characteristics, such as location, size, layout, shape, age, finish, quality, carports, garages, sundecks and condition of buildings are considered when properties are assessed.

What is the relationship between property assessment and taxes?

BC Assessment determines the market value of properties and sends property owners an Assessment Notice in January. Taxing authorities determine the property tax rate they will set to raise the revenue to pay for public services and apply this rate to the assessed value of properties. Property owners are then sent a Tax Notice in the spring by the local taxing authority.

Why did the value of my property change?

Values usually change as a result of real estate market forces which vary by property type and location. Additionally, values will likely increase in properties that have been upgraded.

What happens if I disagree with my property's assessed value?

Property owners who disagree with the estimate of their property's market value, exemption status, or believe their property was improperly classified, should first contact their local assessment office. BC Assessment will review the assessment and, if a change or correction is required, recommend changes to a Property Assessment Review Panel on behalf of the owner.

If the property owner still disagrees with the assessment, they may request an independent review before a Property Assessment Review Panel. This request must be delivered in writing to BC Assessment no later than January 31.

What is a Property Assessment Review Panel?

Property Assessment Review Panels are made up of three people appointed annually by the provincial government. The impartial panel hears evidence and will determine if a property has been valued or classified correctly, or if exemptions were properly applied.

Property Assessment Review Panels are independent of BC Assessment and the taxing authorities. Neither the Property Assessment Review Panel nor BC Assessment has jurisdiction or control over taxes or tax rates. Property taxes cannot be appealed.

Are any tax relief programs available?

The provincial government makes the Home Owner Grant available to most residential property owners who occupy their property.

The provincial government also provides tax deferral support. People 60 years of age and older, widows, widowers and disabled people (as defined in the Guaranteed Available Income for Need Act) may defer their property taxes until they sell their property.

For more information on tax deferment, contact the taxing authority or government agent office in your area. See also the Fact Sheet on Section 19(8) of the Assessment Act: Special Assessments for certain long term residents.