"My assessment has gone up 40%, I can't afford for my taxes to go up 40%!"
A common misconception is that a significant change in your assessed value will result in a proportionately significant change in your property taxes. The most important factor is not how much your assessed value has changed, but how your assessed value has changed relative to the average change for your property class in your municipality or taxing jurisdiction.
Learn more about how a change in your assessed value may impact your property taxes.
If you are a property owner in British Columbia, you will receive an assessment notice in January that shows the assessed value of your property as of July 1, 2020. It is important as a property owner to understand what you need to pay attention to on your assessment notice.
These interactive assessment notice guides will describe to you what the information is, why it may be important, where to find more detailed information, and what actions you need to take, if any.