Understanding Property Taxes

Property taxes are a very complicated subject here in British Columbia. In order to help you understand what property taxes are, why you pay them and how they are levied we have put together this helpful page.

Start with this video from BC Assessment, the authority that determines home values for tax purposes:

 

 

In some cases the values shown on the assessment can appear to be considerably higher than the actual value. This is especially true in 2017, as the values are based as of July 1 of the previous year (and in this case July 1, 2016 was a smoking hot market).

For this reason many of our clients have requested that we do an appraisal of the value of their property.  As you are aware, January 31 is the deadline for written requests to appeal the property assessment before a property assessment review panel.  At the appeal an appraisal can be used to establish market value.

If you have any questions or need some help with the above we’d be pleased to assist you.  Call us at 604-330-9901 or click the attachment for a copy of your guide to understanding property taxes and the appeal process, conveniently provided by our office:

Understanding Property Taxes and The Appeal Process