BC property owners started receiving their 2021 assessment notices the first week of January, a valuation which reflects the market value as of July 1, 2020.
Overall, assessments increased throughout Greater Vancouver for both detached and strata homes.
For detached homes, Squamish and Vancouver led the way, each with a 10 per cent increase, followed by Bowen Island with nine per cent, and Pemberton and Port Coquitlam, each with an eight per cent increase.
For strata homes North Vancouver District led the way with a six per cent increase followed by Maple Ridge with a five per cent increase.
For new construction or substantially renovated homes, the estimate is based on the physical condition as of October 31, 2020.
Viewing the assessment notice
Property owners can also see a property’s assessment using the address on BCA’s website.
Details include a photo, a property description (land and buildings), the total assessed value, the previous year’s value, the legal description and property ID.
If property details are incorrect, property owners are directed to complete and submit an Data Validation Form.
Property owners can also compare neighboring properties and sample sold properties to decide whether their property has been correctly assessed.
Deadline to appeal assessment is February 1, 2021
Property owners who disagree with their assessment should do homework by:
- comparing their assessment with neighboring properties; and
- contacting BCA at 1-866-825-8322, talking with staff who can make adjustments if there’s an obvious error, for example if BCA included a complete renovation when there was only a spruce-up or an upgrade for plumbing or electrical.
Property owners who decide to appeal their property assessment should review information on the Property Assessment Appeal Board website on how to prepare for an appeal.
Each year less than one per cent of BC property owners appeal their assessments.
Note: you can’t appeal your taxes. You can only appeal your assessment.
For information about BC Assessment and to access e-valueBC visit: www.bcassessment.ca or phone 1-866-825-8322.
(Source of Text: Real Estate Board of Greater Vancouver)