Step-by- Step Process: How To Appeal Your Property Taxes From BC Property Tax Assessments
1. Establish a market snapshot of the value of homes in your area. Get a snapshot from us here
2. Obtain a copy or your original BC tax assessment form that is mailed to you from BC Tax Assessments every year in January.
3. Check out what details BC Assessment has on your home eg.(number of bedrooms, bathrooms, sqft, rooms or out buildings). What you have compared to what BC Assessment says you have many times are different. Check out the details of your home from BC Assessment Here
4. Determine if your assessment value is higher or lower from your neighboring property's in your Market Snapshot.
5. Determine if you need a deeper more in-depth market value analysis for your appeals process.
6. Once you have decided to appeal your assessment your will need to file your appeal in writing at your local BC Tax Assessment Office. Your letter of appeal must contain the following:
- your reason for requesting a review
- the Property Assessment Roll number as stated on the Assessment Notice
- the property description address and/or legal description, as stated on your Notice
- your full name, mailing address and a contact phone number where you can be reached during the day
- a statement indicating whether or not you own the property in question
- if you appoint an agent, the agent’s full name and business phone number
Things To Know About The Process:
1. All appeals for the current year must be received by January 31st.
2. Home Prices are based on sales close to July 1st the previous year. It's for this reason your actual property value, may differ from your BC Tax Assessment.
Questions & Answers
Q - How does BC Tax Assessments Know How Much A Home Sold For?
A - BC Tax Assessments has access to the Multiple Listing Service. They can research home sales to establish a baseline of what homes have been selling for each year. This is just one of the criteria BC Assessment uses to determine the value of your home.
Q - Do I have to disclose to BC Assessment how much I paid for my home?
A - No you are under no obligation to disclose how much you paid for your home
Q - Why are the BC tax assessment values different from my current home value?
A - The tax-assessed value is what BC Tax Assessment believes your property is worth. BC Assessment attempts to set values at market value, however, they do not evaluate comparable properties nor do they perform individual market analysis on every property. BC Assessment values your home according to the area, not the individual home, which means that the value may be too high or too low - it just depends on the size, location, amenities and condition of your home
Q - Should I appeal my BC Tax Assessment?
A - If your home will sell for less than it's tax assessed value, then you should appeal. If it will sell for higher than your tax assessed value, then you shouldn't do anything.
Q - How do I find out the true market value of my property?