Most of you will find in your mailbox your 2015 BC Assessments. If you have not yet received it and are curious about what your assessment will look like you can look it up at the following link:
Just enter your address and it will populate your tax assessment for 2015.
What does this value mean? Well in Vancouver and surrounding areas it means that this is the value that will be used to calculate your property tax for 2016. Aside from that it doesn’t say much. In other areas around the province this number reflects market value and is a pretty good indication of what a home will sell for. In the Lower Mainland however we have such a lack of supply that this number is becoming more and more useless. Not to mention that this evaluation was calculated in July 2015. In this market a lot changes over 6 months!
As far as property tax goes keep in mind that you may be eligible for a home owner grant to reduce the tax that is actually due.
For more information or for a more accurate market value of your home or condo don’t hesitate to give me a call.