Property assessments

Each year in early January, BC Assessment sends out property assessment notices, reflecting your property's estimated market value as of July 1 of the previous year. 

How property assessments affect property taxes

Your property's assessed value plays a significant role in determining your annual property taxes. However, it's not just the change in your property's value that matters, but how it compares to the average change within your municipality. Here's how it works:​

  • Above-average increase: If your property's assessed value rises more than the city-wide average, you may see a property tax increase.​
  • Below-average increase or decrease: If your property's assessed value increases less than the average or decreases, your property taxes might remain stable or even decrease.

It's important to note that the City’s budget is based on the cost of delivering services and not directly on property values. Services funded by property taxes include fire and police services, road maintenance, parks, administration, recreation and cultural facilities. ​

Appealing your property assessment

If you believe your property's assessed value doesn't reflect its market value as of July 1 of the previous year, BC Assessment encourages you to first review your assessment using their assessment search tool and compare it to similar properties. If concerns remain, you can discuss them with BC Assessment staff before filing a formal Notice of Complaint (Appeal). The deadline to file a complaint is January 31 of each year.

If a resolution is not reached, you can appeal to the Property Assessment Review Panel (PARP), the first level of formal appeal. If you disagree with the panel’s decision, you can take your appeal further to the Property Assessment Appeal Board (PAAB) by April 30.

For full details, visit BC Assessment Appeals.

Additional resources

For more information on property assessments and their relationship to property taxes, consider the following resources: