Relocation services for British Columbia, Canada

B.C. Property Assessment

In January in BC you will receive your Property Assessment. This notice gives the homeowner an estimate of the value of their property split into Land and Buildings. It is based on the market value in July of the previous year and is generally a little conservative. The good news for us in BC is the value is still (generally) going up.

The bad news comes in May when the provincial government applies the going tax rate to your property and sends you a bill, which is then payable in July.

From January until March 15 you can compare your assessed value to your neighbours (and anyone else you fancy) by going to www.bcassessment.bc.ca. Pick your municipality and then your road to see the assessed values of each of the houses.

You have until January 31 if you want to appeal against your assessment. Unfortunately, you cannot appeal against the taxation!

Home owner’s grant

You can claim a home owner’s grant on your principal residence if you are a Canadian citizen, or Permanent Resident and reside in BC. It does not apply to second homes, investment properties or any properties you hold in BC, while you are still resident in the UK

Information on how to claim a home owners grant is available on the BC Ministry of Provincial Revenue – Property Taxation branch. If you meet the conditions, you could receive up to $570 rebate from your property taxation.
http://www.rev.gov.bc.ca/Rpt/home_owner_grants.htm

The provincial government pays a basic grant of $570 to almost every owner of a home worth up to $950,000 to help cover their municipal property taxes.

Victoria pays an additional $275 to seniors, the disabled and people receiving veterans benefits. But for every $1,000 over the $950,000 threshold, the government reduces the grant by $5.