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TAX ASSESSMENTS - Important Reminders

Blog by Amy Dewaele | January 15th, 2020

BC ASSESSMENTS - What You Need to Know!

As of January you should have all received a Property Assessment for your home.

Your ASSESSED VALUE and MARKET VALUE are typically NOT the same. 

It's important to note that these tax assessment are a computer generated assessment that utilize an algorithm to determine an "assessed value" to calculate taxes owed.  No physical assessment of your property was conducted; therefore, it's almost impossible to take into consideration all of the things that a liscensed REALTOR® would consider when determining market value of a residential property.  Things such as interior updates, exterior landscaping, properties with views and other enhancements to the property are almost impossible to account for with a computer generated program.

These "Assessments" took place in July 2019 and even since then, we have seen certain markets go up and down.

What can you do if you disagree with the assessment?  You can absolute dispute your assessment should you choose to.  CLICK HERE to learn more.

If you have any questions about your assessment, or are looking for a MARKET VALUE assessment of your home, don't hesitate to reach out!