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

Commercial and Residential Assessment Changes for Greater Vancouver 2024

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.

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Facts on B.C. Property Assessments and the 2021 Assessment Roll

• Total number of properties on the 2021 Roll is 2,114,885, an approximate one per cent increase from 2020.
• Total value of real estate on the 2021 Roll is about $2.01 trillion, an increase of nearly 4.2 per cent from 2020 ...

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500 TOP VALUED RESIDENTIAL BC PROPERTIES (2024)
Press release. January 2024 – BCAssessment.com
by Michael C. Lount, B.A.Sc., AACI

Click here to view and/or download a .pdf file with the BC - TOP VALUED RESIDENTIAL PROPERTIES (2024).

BC Assessment Roll Taxable Values by Assessment Area and Property Class (2021 vs 2020)
Press release. January 2021 – BCAssessment.com
by Michael C. Lount, B.A.Sc., AACI

Click here to view and/or download a .pdf file with the BC Assessment Roll Taxable Values by Assessment Area and Property Class (2021 vs 2020).

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Commercial and Residential Assessment Changes for Greater Vancouver 2021
Press release. January 2020 – BCAssessment.com
by Michael C. Lount, B.A.Sc., AACI

BC ASSESSMENTS 2021, VANCOUVER, BC — Property owners can expect to receive their assessment notices in early January, which are supposed to reflect market value as of July 1, 2020. This may not always be the case and assessment reviews of commercial and Industrial properties should be considered.

In the meantime it is interesting to note:

"The preliminary market analysis for 2019 property assessments is showing strong market conditions across most areas and property types in the province, with a few exceptions," says Assessor Tina Ireland. "Assessments for detached single family homes in central parts of Metro Vancouver, for example, will be relatively stable, while other parts of the province will see increases when compared to last year's assessments. Residential strata values are going up in most communities while commercial and industrial properties are also continuing to rise, particularly in the Vancouver area."

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Vancouver City Countil Approves the Formation of a Citizens Advisory Group on Property Taxation

The purpose of this report is to recommend the establishment of a standing Citizens Advisory Group on Property Taxation, following the work of the City's Task Force and Advisory Panel on property taxes.

The establishment of this group will continue Council's policy of having community perspectives represented in, or presented alongside of, proposed changes to existing taxation policy, especially if those changes have the potential to impact the tax burden sharing ratios for the City's annual general purposes tax levy among the property classes, and/or the amounts levied on individual properties.

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Greater Vancouver Top 100 Valued Houses From 2018 to 2024

Peruse a list of the top 100 valued residential properties in Greater Vancouver for 2018, 2019, 2020, 2021, 2022 and 2024 here.

Your 2023 Assessment Notice
by Michael C. Lount, B.A.Sc., AACI

A new year has brought with it new property assessments that will form the basis of your City taxes this year. These notices should not be taken lightly.

They should be carefully scrutinized as any error can be costly especially for business properties, which pay taxes at a rate many times higher than residential properties.

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Greater Vancouver 2017 Property Assessments Skyrocket Like They Did In 2016 – Reviews and Appeals are Necessary– Reviews and Appeals are Necessary
Press release. January 2017 – BCAssessment.com
by Michael C. Lount, B.A.Sc., AACI

BC ASSESSMENTS 2017, VANCOUVER, BC — Property owners can expect to receive their 2017 assessment notices in early January 2017, which are supposed to reflect market value as of July 1, 2016. This may not always be the case and assessment reviews of commercial and Industrial properties should be considered.

"Commercial and industrial properties in close proximity to Vancouver will typically see increases in the 15-40 per cent range," says Jason Grant, of the BC Assessment Authority. He also says "Commercial properties being purchased for eventual redevelopment will often exceed these ranges."

M.C. Lount & Associates Ltd. is a leading provider of property assessment reviews and appeals, particularly in the commercial, Industrial and investment sectors, with many successes. Commercial, industrial or investment property owners are welcome to reach us at 604-727-7902 for a free consultation, and possible free review of their assessment, particularly in consideration of the general massive increases this year.

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Property Assessment Reviews - An Introduction
by Michael C. Lount, B.A.Sc., AACI

In this article, some basic concepts of the market value based property tax system are reviewed. They are written on the basis and perspective of assessment practice in the Province of British Columbia, Canada.

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What to do if you did not receive your assessment notice.
by Michael C. Lount, B.A.Sc., AACI

If you did not receive Your Assessment Notice please read this:

If you are a business, commercial or industrial property owner/tenant, and have not yet received Your Assessment Notice, you may contact M. C. Lount & Associates at 604-727-7902 for assistance. The notice is an important legal document and it is essential that you have a copy of your assessment in hand before the January 31, 2021 appeal deadline.

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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.