BC Property Assessments were released on January 3, 2023, reflecting BC Assessment’s estimated market value of your property as of July 1, 2022. Property Assessments are a major factor in determining the property taxes payable for 2023. An inflated value on your assessment this year can inflate your tax bill indefinitely as future assessment value increases compound on today’s inflated value.
If you have a hunch that your assessed value is too high, there is a short window to file for a review between now and January 31 of this year.
Haven’t seen your assessment value yet? Click here: https://www.bcassessment.ca/
Review Panel
Deadline to file Notice of Complaint (Appeal) is January 31, 2023.
That can be done here: https://eforms.bcassessment.ca/online_appeal_form_PARP_2023.asp
The basic steps include:
- Reviewing your Assessment Notice
- Discussing your Concerns with BC Assessment via phone/email (optional)
- Request a Review/File a property assessment complaint (link above)
- Prepare for your Hearing (you will receive a letter indicating your hearing date and time)
- Hearing Day – Call in to your Hearing and share evidence (they wont call you)
- Receive Review Panel Decision (received by April 7)
- Don’t like the decision? Appeal to the Property Assessment Appeal Board (PAAB)
A professional appraisal can help you prepare for your hearing by providing an unbiased, professional opinion of your property’s value as of July 1, 2022.
The Appeal Board
The second level of appeal is to the Property Assessment Appeal Board (PAAB). Applications will be accepted starting March 1, 2023. The deadline is April 30, 2023. A notice of complaint to the Review Panel must have been submitted prior to filing an appeal with the Board.
Benefits of hiring an appraiser
After filing for review, it may be wise to consider hiring an appraiser to help you prepare.
- Save time – Order today and get an appraisal back with comparable sales and analysis within 3 days
- Unbiased opinion from a third party – Appraisers are bound by professional standards to maintain objectivity
- Streamline negotiation – Appraisers have access to all relevant sales from your area from July 1, 2022, and will provide you with the best evidence available to support their assessment
Residential Appraisal fees vary depending on a variety of factors but generally start at $400. For commercial appraisal inquiries please call our office for a detailed quote.