All about Property Assessments
Updated: May 4, 2020
Did you get your BC Assessment in the mail?
Here are a few things you should know - watch the video for more info!
This is NOT a current VALUE of your property, it was a computer-based assessment from July 1st of the previous year.
The government uses a program to provide an estimate of values, not based on visiting a property but rather a combination of similar properties that sold in the area.
There was NO physical appraisal that took place on the property and therefore the value may be completely different from what you currently see.
The interior of your property could substantially increase or decrease your property value, this is not considered in your assessment.
This does not reflect what your home is likely to sell for
What your property sells for is actually possible to be VERY different from your assessment, as market values can dramatically change in 6-12 months. in addition the assessment does not consider the interior of a property.
Your value on your appraisal CAN impact your taxes, and can also be disputed.
Click this LINK to dispute your assessment, this must be done by Jan 31st of the year you received your assessment.
FOR MORE INFO >> https://www.bcassessment.ca/
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