An Observer points out that the most recent property tax assessment values are now available on the BC Assesment website:
If you’re curious about the assessed value of your property, your neighbors property or that cute little tear-down you’ve got your eye on you can find it here for the next couple of months:
Property values are assessed in July, so these assessments represent the tax market value at that time.
Since prices have been falling in Vancouver since last summer we’re at an interesting stage of the market cycle – basically most property that’s selling right now is selling for ‘less than assessed value’ so watch for that phrase to pop up a lot in new listings.
Another point to keep in mind since it always seems to pop up in discussion of property tax: In Vancouver taxes are based on a balance across properties. This means that just because house prices go up, that doesn’t mean tax income goes up.
The only important thing is your homes value in comparison to neighbouring homes – the total tax load is split up between all homes, so if all home prices drop by 20% across the board all tax bills will remain the same (unless the city decides they need to bring in more tax money).