Vancouver Real Estate Update:
Do you disagree with you new assessment value?
By now you will have received your new assessment notices. Your values may have increased as much as 20% or more. This does not mean your property taxes will go up 20%; though they will undoubtedly go up. We have received a few calls from homeowners questioning their assessments. Should you appeal? If you can support your case with recent sales in your area which reflect a lower value you may choose to pursue an appeal.
You can compare your assessments to other homes in your area by visiting:
The BC Assessment Authority suggests... "Property owners who disagree with the estimate of their property's market value, exemption status, or who believe their property was improperly classified, should contact their local assessment office. BC Assessment will review the assessment and, if a change or correction is required, will recommend the changes to a Property Assessment Review Panel (PARP) on behalf of the owner. If the property owner still disagrees with the assessment, he or she may request an independent review before a PARP. This request must be delivered in writing to BC Assessment no later than January 31."