Articles
by Michael C. Lount, B.A.Sc., AACI

Commercial and Residential Assessment Changes for Greater Vancouver 2024
Press release. January 2024– BCAssessment.com
by Michael C. Lount, B.A.Sc., AACI

If you are a commercial property owner you should contact us directly for further information.

FOR IMMEDIATE RELEASE

BCAssessment.com Releases 2024 Property Assessment Highlights for British Columbia
VANCOUVER, January 2024 – Michael C. Lount, B.A.Sc., AACI, P. App., RI, the independent Assessment Analysts at BCAssessment.com, announce the release of the 2024 property assessments for British Columbia. With 2,184,692 properties assessed throughout the province, property owners are encouraged to review their Assessment Notices, which reflect the market value as of July 1, 2023.

While the majority of the assessments are accurate, it is crucial to note that over 40,000 assessments were corrected in the previous year. Although this accounts for only 2% of the total assessments in British Columbia, it emphasizes the importance for property owners to ensure the accuracy of their assessments.

BCAssessment.com, as British Columbia's longest-established provider specializing in property assessment reviews and appeals, offers assistance to property owners. We actively collect, monitor, and analyse property data throughout the year. WE have helped property owners for over 30 years in correcting their BC Assessment value so they are fair and equitable. Appeals must be filed by January 31, of this year.

Commercial, industrial, and investment property owners should ensure their property assessment is independently reviewed. Independent reviews, of course, can not be done by the government-operated BC Assessment Authority. Property owners are encouraged to contact independent Assessment Analyst Mike Lount at mclount@telus.net or 604-727-7902 as soon as possible before January 31st. High-value residential properties with assessment value concerns are also urged to seek assistance.
Key Highlights for 2024:

• Number of properties assessed: 2,184,692 (1% increase from 2023)
• The total value of real estate assessed: $2.79 trillion (3% increase from 2023)
• The total value of new construction, subdivisions, and rezoning: $40 billion in 2023
• Percentage of corrections: 2% of Assessment Roll in 2023

We at BCAssessment.com are committed to working to ensure accurate and fair property assessments, contributing to the transparency of the real estate market in British Columbia.

Property owners are reminded of the importance of verifying their assessments and seeking assistance promptly if discrepancies are identified. The appeal deadline is January 31

For further information or media inquiries, please contact:
Mike Lount at BCAssessment.com (M.C. Lount & Associates Ltd.)
Email: mclount@telus.net Phone: 604-727-7902
Your Tax  We Help 

About the author

Michael C. Lount, B.A. Sc., AACI, is president of M.C. Lount & Associates Ltd., a leading expert in the field of property tax assessments. Mr. Lount is a 30-year member of the Appraisal Institute of Canada and holds their senior AACI designation. He also holds a Bachelor of Applied Science degree in Civil Engineering from the University of British Columbia. He can be reached at 604-727-7902 or contact us here

Remember, we are an independent company and are not affiliated with the provincial government assessment office - the British Columbia Assessment Authority.