Property Assessment Notice
This notice is BC Assessment’s estimate of a property’s value as of July 1 and, for new construction or substantially renovated homes, the physical condition as of October 31 of each year.
The deadline to appeal is January 31, 2013
Property owners should first contact their local assessment office and talk to staff who can make adjustments if there is an obvious error, for example if BCA included a complete renovation, when it was merely a spruce-up.
Property owners who decide to appeal must complete a Notice of Complaint (Appeal) form and file it by January 31, 2013 at 11:59 pm. For information, visit www.bcassessment.ca and select Property Assessment Review Process. Then select Property Assessment Complaint Process – Step-by-Step Guide.
|Area assessors’ phone numbers|
|Vancouver, the North Shore, Squamish,
Whistler, Pemberton, Sunshine Coast
|Richmond, South Delta||604-576-4700|
|Pitt Meadows, Maple Ridge||604-850-5900|
|Anmore, Belcarra, Burnaby, Coquitlam,
New Westminster, Port Coquitlam, Port Moody
What can a successful appeal mean for a property owner?
If a property assessment decreases, property taxes may potentially also decrease.
BCA determines the assessed value of a property for tax purposes. The taxing authorities – both local and provincial
governments – set tax rates each spring according to budget requirements. The tax rate is used to determine the amount of
property tax that must be paid, based on the assessed value of a property.
The tax rate applies to each $1,000 of net taxable value. The formula for calculating taxes on property is:
Tax Rate x Assessed Value / 1,000
If the tax rate for residential property is 4.01, taxes of $4.01 are charged on every $1,000 of assessed value. Residential
property valued at $1,000,000 will have property taxes of $4,010 ($4.01 x $1,000,000/1,000).
Property values stable
Since July 1, 2012 home owners may have seen prices stalling in some neighbourhoods and rising in others. BCA reports that the majority of residential homeowners will experience an assessment change of less than 5% compared to last year’s assessment roll.
|Sample Changes Year Over Year|
|Location||2013 Assessment Roll||2012 Assessment Roll||$ change||% change|
|Burnaby (Capital Hill, detached)||$734,000||$683,000||$51,000||7.5%|
|Coquitlam (Maillardville, detached)||$677,000||$652,000||$25,000||3.8%|
|Maple Ridge (Detached)||$438,000||$441,000||-$3,000||-0.68%|
|New Westminster (Sapperton, detached)||$550,000||$523,000||$27,000||5.2%|
|North Vancouver, District (Lynn Valley, detached)||$846,000||$878,000||-$32,000||-3.6%|
|Pemberton Village (Detached)||$463,000||$499,000||-$36,000||-7.2%|
|Port Coquitlam (Lincoln Park, detached)||$531,000||$529,000||$2,000||0.4%|
|Richmond (Steveston, detached)||$808,000||$809,300||-$1,000||-0.12%|
|Sunshine Coast (Gibsons, detached)||$391,000||$431,000||-$40,000||-9.3%|
|Vancouver (Downtown, 2-bed apartment)||$567,000||$610,000||-$43,000||-7.0%|
|Vancouver (East side, detached, 33’ lot)||$1,081,000||$1,031,300||$50,400||4.9%|
|Vancouver (West side, detached 50’ lot)||$1,622,900||$1,645,400||-$22,500||-1.4%|
|West Vancouver (Ambleside, detached)||$1,698,100||$1,577,800||$120,300||7.6%|
|Whistler (Village, 2-bed apartment)||$429,000||$491,000||-$62,000||-12.6%|