OVER 98% OF PROPERTY OWNERS CHOOSE NOT TO APPEAL 2017 ASSESSMENT
VICTORIA – The 2017 Property Assessment Review Panel has concluded, and consistent with the past few years, less than two per cent of B.C. property owners appealed their 2017 property assessments.
A total of 27,903 property assessments were appealed, which is about 1.38 per cent of the over 2 million total properties assessed for 2017.
The low rate of appeals is consistent with past years, as demonstrated below:
|Total Number of Properties Appealed||27,903||23,354||22,296||17,874|
|% of Total Properties Appealed (from Total Property Count*)||1.38%||1.2%||1.1%||0.91%|
*Total number of properties in British Columbia is approximately 2.01 million
"The low rate of appeal, particularly in a year with dramatic increases in many urban areas, speaks to BC Assessment's role in providing fair and accurate property assessments," says Jason Grant, Acting Vice President of Assessment.
Independent Property Assessment Review Panels met to consider appeals between February 1 and March 15, 2017.
BC Assessment values over 2 million properties in nine separate property classes. After revisions by the Property Assessment Review Panels, the value of all real estate on the annual provincial Assessment Roll is over $1.68 trillion for 2017, an increase of 25 per cent from 2016.
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