BC Assessment has sent out the Notices of Assessment for 2019 and some businesses are rightfully horrified to see some of the increases. While the residential market has cooled, the commercial market has resulted in increases in value, and will result in increased assessments.
BC Assessment has stated that commercial and industrial properties throughout the Greater Vancouver area will see significant increases up to 45% in the Urban area, while Industrial properties have increased as much as 55% in some cases. The attack on small property owners with BC Assessment stating that these are eventual redevelopment sites continue. During December, BC Assessment provided courtesy notification letters to property owners whose assessments are increasing significantly more than the typical range of change.
BC Assessment's website was updated on January 2nd, 2019 with access to 2019 property assessment information including assessment details for all properties. You can look up yours at BC Assessments e-Value BC
The appeal period ends on January 31, 2018. Call us at 604-608-6161 if you would like more information.
