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BCAA Assessed Property Value

Posted by Ron Neal on Friday, January 10th, 2014 at 3:07pm.

8895 Pacific Park Terrace. 04

Most BC property owners will have received their new updated BCAA Property Valuation and most will notice another decrease from the last year. This notice reflects the value effective last July 1, 2013 and is already 6 months out of date when you receive it. Of course the assessor is generally unaware and your notice does not account for any significant improvements, additions (without permit), mechanical, structural or other problems or deferred maintenance (i.e. leaky roof). Strata issues including Special Assessments (arising with increasing frequency from now legislated depreciation reports) are also not typically accounted for.

If you have not received or are curious about the assessed value of any BC property simply go to e-valueBC. For a real time current look at activity in your area including current listing prices and sold prices try our FREE Market Snapshot. It's important to note that a decrease in your assessed value probably does not mean a decrease in your property taxes which are based on your property's value relative to other properties in your jurisdiction. If you suspect that your tax assessment is reporting a value higher than it's true value, you are probably right and you are probably paying more tax than you should.

Contesting your assessment is easy and we are happy to assist you. All that is required is that you request a review by filing an appeal by January 31st, it's FREE and can be done online at bcassessment.ca, by mail or fax. I have even had some adjusted simply over the phone at 1-866-825-8322. Last year we were successful in getting one reduced by more than 25%. We are happy to assist you with market information and our opinion of value.

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The Neal Estate Team

The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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