Vancouver Real Estate Blog

BC Assessment

Property owners in BC received their BC Assessment in the mail this week. The BC Assessment assessed value of the property is used to calculate property taxes. It is also a good indicator of the property value. The assessed value is of the date July 1 of that year.

BC Assessment calculates value based on comparable homes nearby, and considers factors such as size of home, view, location, number of bedrooms, etc. BC Assessment values are accurate if all the houses on the same street are identical. But when the houses have differences such as renovations, you need a real estate agent to see these factors in order to obtain a more accurate market value. That is why you need a realtor to find the value of the property, and why computers will never be able to get a number that can be relied upon alone.