As mentioned in an earlier blog post, BC Assessment recently released property assessments for 2023. The valuation date is July 1, 2022.
Since the housing market got weaker over the course of 2022, it is important to carefully review the comparable sales used to determine your home's assessed value. To be fair, a sample of sales should have been reviewed by the Assessor on either side of July 1, 2022. That is because the housing market was stronger in the early part or spring of 2022. If the comparable sales relied upon by BC Assessment were skewed to the first half of 2022, then your property might be over assessed.
I would be happy to provide a free comparative market valuation of your home or property, to determine if your assessed value was fair and equitable.
The deadline to appeal your property assessment is January 31, 2023. This is a very important date if you believe your home or property is assessed too high.