All you need to know about the 2019 assessments
Have you checked your 2019 assessment yet?
BC Assessment (BCA) sent home owners their 2019 assessment notices last week, which reflect your home's market value as of July 1, 2018.
In Greater Vancouver, strata units saw overall increases, with Whistler leading the way (23 per cent and more), followed by Squamish (19 per cent and more), and Port Coquitlam (16 per cent).
In contrast, assessments for detached homes were mixed and ranged from a 14 per cent increase in Pemberton to a 12 per cent decrease in West Vancouver.
If your home had a significant increase or decrease, you would have received a warning assessment in early December 2018.
For new construction or substantially renovated homes, the estimate is based on the physical condition as of October 31, 2018.
Viewing the assessment notice
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, you can complete and submit an e-valueBC Data Validation Form.
You can also compare neighbouring properties and sample sold properties to decide whether your property has been correctly assessed.
What if I disagree with my assessment?
If you disagree with your assessment, you should do your homework by:
- comparing their assessment with neighbouring properties; and
- contacting BCA at 1-866-valueBC (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 and then complete a Notice of Complaint (Appeal) Form. (Step 7)
The deadline to appeal your assessment is January 31, 2019.
Sample assessment value changes by neighbourhood
2018 assessment roll
(valuation date of July 1, 2017)
2019 assessment roll
(valuation date of July 1, 2018)
|Maple Ridge detached||$757,000||$820,000||$63,000||+8%|
|Maple Ridge strata||$394,000||$464,000||$70,000||+18%|
|New Westminster detached||$1,133,000||$1,147,000||$14,000||+1%|
|New Westminster strata||$478,000||$547,000||$69,000||+14%|
|North Vancouver, District detached||$1,668,000||$1,668,000||N/A||+/-0%|
|North Vancouver, District strata||$709,000||$758,000||$49,000||+7%|
|Pitt Meadows detached||$804,000||$871,000||$67,000||+8%|
|Port Coquitlam detached||$936,000||$969,000||$33,000||+4%|
|Port Coquitlam strata||$461,000||$534,000||$73,000||+16%|
|Port Moody detached||$1,284,000||$1,342,000||$58,000||+5%|
|Port Moody strata||$583,000||$648,000||$65,000||+11%|
|West Vancouver detached||$3,184,000||$2,806,000||-$378,000||-12%|
|West Vancouver strata||$1,211,000||$1,285,000||$74,000||+6%|
Did you know?
- BCA is a provincial Crown corporation. Since 1974, it’s been responsible for determining and reporting property value estimates.
- For 2018 BCA reported 2,067,479 properties in its database, an increase of 1.07 per cent from 2018.
- Total value of real estate on the 2019 BC assessment roll is $1.99 trillion, an increase of 7.45 per cent from 2018.
- In BC, 88 per cent of all properties are classified as residential (class 1).
- BCA’s assessment roll provides the foundation for local and provincial taxing authorities to levy property taxes each year which fund community services including the school system.
Property tax notices are sent to home owners and businesses in June and are due the first or second business day in July, depending on the municipality.
The Home Owner Grant reduces the amount of property tax you have to pay on your home as long as its your primary residence. Province-wide, 91 per cent of homes will remain below the threshold. Is your home one of them?
To attract buyers and ensure you receive a price that works best for you, your Realtor will help establish your home’s current market value.