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01-05-2012, 01:30 PM
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#1 | | Banned (ABWS)
Join Date: Mar 2003 Location: Richmond, BC
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| Disputing BC Assessment
Just got my BC assessment in the mail yesterday, and as usual it's assessed at a ridiculously high value. In the past I haven't bothered disputing as all the properties in my neighbourhood have similar assessment values (usually slightly higher as I have a 1-story rancher, and most other houses are 2-story in my neighbourhood). However, I just recently renewed my mortgage last month and had my property assessed by a private appraisal company and their assessment is $135,000 lower than the BC asssessment. Also this year, my property is valued higher than some of my 2-story neighbours. Anybody have success with disputing their BC assessment and if so, what supporting documents/reasoning did you use?
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01-05-2012, 01:48 PM
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#2 | | The RS Freebie guru
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Found this: http://www.bcrelinks.com/articles/vcrpropertytax.pdf Quote:
If a property owner wants to dispute B.C. Assessment’s estimate of their
property’s market value, exemption status, or classification, the first step is to contact their
local assessment office. When a property owner makes a complaint, B.C. Assessment will
review the complaining owner’s assessment, and determine whether it believes a change or
correction is required. If B.C. Assessment is in favour of a change, it will recommend this
change to a Property Assessment Review Panel on behalf of the owner. If B.C. Assessment
does not agree with a property owner’s dispute, it will inform the property owner of this. If
the property owner still disagrees with the assessment, the owner can request an independent
review before a Property Assessment Review Panel. This request must be delivered in
writing to B.C. Assessment before 12:00 a.m. on the January 31st following the property
owner’s receipt of the Assessment, failing which the owner will have to wait until the next
year to appeal the assessment.
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01-05-2012, 02:51 PM
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#3 | | Banned (ABWS)
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^Thanks. That info is on the back of the assessment, I was just wondering if anybody has actually gone through the process and if they were successful. I'm wondering how much weight my private assessment will have in their decision. I'll give them a call and see what they say. Unfortunately not worth my time to attend a review panel as I'd have to take timee of work.
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01-05-2012, 05:28 PM
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#4 | | I have named my kids VIC and VLS
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do houses in your neighborhood sell for assesment value or above?
fuck people in my neighborhood are getting 100K+ over assesment value with some properties
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01-05-2012, 05:34 PM
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#5 | | Banned (ABWS)
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| Quote:
Originally Posted by Hondaracer  do houses in your neighborhood sell for assesment value or above?
fuck people in my neighborhood are getting 100K+ over assesment value with some properties | Only 3 houses sold in my neighbourhood last year. 2 were over assessment (by about 200k), and 1 was under by about 100k.  | |
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01-05-2012, 06:04 PM
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#6 | | I have named my kids VIC and VLS
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quite the margin there
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01-06-2012, 08:09 AM
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#7 | | I answer every Emotion with an emoticon
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you know what. yes you can for sure go with and argue. at the end, if you win, you pay lesspropertytax + countless manhours and fees to have it assessed. all in all, it MIGHT be a win.
but when it comes to selling it, oh, the assessed value is so much lower than your neighbour, why would you expect me to pay more than the assessd value whn you're selling it. just fyi
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01-06-2012, 09:43 AM
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#8 | | I *heart* Revscene.net very Muchie
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^That's only if the OP is looking at flipping the place.
Even if the value has been reduced in his favour, the lower rate is not going to be grandfathered for long (not until the 2013 assessment figures come out).
The the OP, how much are you trying to have the assessed value lowered by?
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01-06-2012, 11:11 AM
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#9 | | Banned (ABWS)
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BC Assessment is based on July 2011, a market peak. Prices are down from then:  | |
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01-06-2012, 11:37 AM
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#10 | | Wunder? Wonder?? Wander???
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Taylor beat me to it... Assessments are based on July 2011 values and are catching up for the lower values assessed in July 2010.
Good luck if you decide to continue with the process and please report back if you proceed as it'd be good information to know.
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01-06-2012, 12:46 PM
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#11 | | Banned (ABWS)
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Good point Taylor, but have prices dropped 15% since July? (That's the difference between BC assessment and my private appraisal). Also, my private appraisal also takes into account my interior renovations (I gutted the house and everything is brand new from 2008), so if anything, the private appraisal should be higher than BC assessment. Just for reference, my 2011 assessment is 25% higher than my 2010.  . Also, BC assessment valuations seem to be inconsistent. Two homes that are almost identical to mine (1-story, same lot size, similar condition) are valued 20-30k higher than mine. But two houses that have same lot size, similar condition, but are 2-story (larger sf) are valued 20-30k lower than mine. As pointed out, I have no intention of selling my home in the next 10 years. Anyways, I'm giving them a call next week. Will report back then.
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01-09-2012, 09:00 PM
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#12 | | Founder, RS Veteran
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From a friend.. Quote:
If he had his house appraised just recently and it is $135,000 lower than assessment, he has pretty good grounds for appeal.
The valuation date for assessment is July 1, 2011, and values have tempered a bit in recent months, but likely not by $135,000. Don't know his house value or where it's located so it's difficult to offer more detail.
For the most part, everyone's assessment has increased quite a bit. This does not necessarily mean property taxes will increase though, depends on its relativity to the average. Also, assessment looks at physical occupancy date of October 31st, so he needs to make sure he didn't for example demolish half his house a few months ago (but subsequent to October 31st) which prompted the lower value on the appraisal.
Best thing for him to do is to just call up BC Assessment and voice his concerns.
| Sounds like you should give them a call.
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01-17-2012, 03:34 PM
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#13 | | Rs has made me the woman i am today!
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Just wondering. Is there a way to check previous years' assessments? My first year as home owner and wondering if there's a way Posted via RS Mobile | |
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01-21-2012, 02:21 PM
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#14 | | Proud to be called a RS Regular!
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| Quote:
Originally Posted by 411ken Just wondering. Is there a way to check previous years' assessments? My first year as home owner and wondering if there's a way Posted via RS Mobile | What city are you in?
I know Burnaby has it online. http://webmap.city.burnaby.bc.ca
Search for your address, then a link should come up for assessment history.
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01-27-2012, 12:37 PM
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#15 | | Banned (ABWS)
Join Date: Mar 2003 Location: Richmond, BC
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Just a quick update. Just got off the phone with BC Assessment. They claim the private assessment looked at properties too far away from my house (1-2km away). All properties within my immediate vicinity apparently went at/above my BC assessment values. Don't think I'll bother with a formal appeal at this point as I'd have to take time off work and it looks like my chances are slim
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01-27-2012, 02:51 PM
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#16 | | I contribute to threads in the offtopic forum
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Real estate in richmond, sigh.....
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01-27-2012, 08:38 PM
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#17 | | Ubereem Mod
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| Quote:
Originally Posted by Jermyzy Just a quick update. Just got off the phone with BC Assessment. They claim the private assessment looked at properties too far away from my house (1-2km away). All properties within my immediate vicinity apparently went at/above my BC assessment values. Don't think I'll bother with a formal appeal at this point as I'd have to take time off work and it looks like my chances are slim | Just an excuse really, because private assessment firms look at properties with similar values, aka lot size, house side(you said 1 floor vs 2 floor neighbours is big difference.), year it was built, special properties you have, aka really old homes with oil tanks, and recent sold dates. Stuff like that.
If there isn't anything in your immediate vacinity, then how would you get a correct value.
For them to tell you that nothing is comparable with the houses beside you, well because there isn't....
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