"My assessment has gone up 40%, I can't afford for my taxes to go up 40%!"
An increase in your assessed value does not imply that your property taxes will increase.
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 (e.g. Residential, Business and Other are the most common) in your municipality or local taxation 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 of the previous year. As a property owner, it is important to understand what information to look for on your assessment notice.
These
interactive guides will help you learn everything you need to know about your assessment notice. This includes what the information is, why it may be important, where to find more detailed information, and what actions you need to take, if any.
