Property owners in BC have received their property assessment notices in January after the market value of the homes were assessed as of July 1 of the previous year. When determining the assessed value, the appraisers consider your property’s unique characteristics, including:
- The location of the home
- The view from the home
- The size of the home
- The age of the home
- Garages, carports, decks, pool, etc.
- Comparable sales prices and other real estate market information
You can also find your property assessment online as well. The BC Assessment website offers a lot of additional information e.g. the assessment process, the option to update your property information and learn about the appeals process.
BC Assessment is an independent, provincial crown corporation, accountable to the Government of BC. Their responsibility is to determine the market value of land and improvements and enter the values on the Assessment Roll.
The assessed value is then used to calculate your property taxes, the Property Tax Notice will be mailed out in June.