2. Who we are What we do Talk to us Brian Smith Deputy Assessor
Fraser Valley Region
Select ‘Insert > Header & Footer’ to Adjust– 6pt.
4 May 2018

3. History of BC Assessment
Established in 1974 under the Assessment Authority Act in response to the need for a fair, independent organization that valued all property in the province
A provincial Crown corporation, independent of taxing authorities

4. Our product The Assessment Roll
Annual list of property values provides stable, predictable base for real property taxation in B.C.
Represents over 1.99 million properties with total value of $1.34 trillion
Identifies ownership, value, classification and exemptions for each property
Provides stable base for local governments and taxing authorities to raise approximately $7 billion annually in property taxes for schools and important local services
The Assessment Roll
Gather information, analyze information, determine the assessed values.
Assessed values are given to municipalities to put them to assign their tax rate too.
Property Classes
1-Residential
2-Utilities
3-Supportive housing
4-Major industry
5-Light industry
6-Business other
7-Managed forest land
8-Recreational/non profit
9-Farm land
4 May 2018

5. Key Dates
December 31
Assessment Rolls and totals produced, notices mailed
February 1
Property Assessment Review Panel; request for review deadline
February 1 to March 15
Property Assessment Review Panel
April 30
Property Assessment Appeal Board
July 1
Valuation Date
October 31
Physical Condition
November 30
Land Titles
4 May 2018

6. 2016 completed assessment roll highlights Provincial Roll
1.06%
11.1%
8.9%
increase from Assessment Roll
increase from 2015
increase from 2015
Total properties in BC 1,996,112
Total value of roll $1.34 trillion
Total non-market change (new construction) $20.36 billion
-87.7% properties have some form of residential value
-Top valued residential property is $63.8 million
-top value non-residential property is $5.1 Billion
4 May 2018

7. 2016 completed assessment roll highlights City of Pitt Meadows
3.37%
9.4%
17.0%
increase from Assessment Roll
increase from 2015
increase from 2015
Total properties in Pitt Meadows 7,238
Total value of roll $3.83 billion
Total non-market change (new construction) $92.19 billion
-2015 it was just over 7,000 properties,
-top valued residential property in Pitt Meadows: $2.7 million – acreage home
-top valued non-residential property in Pitt Meadows: $130 Million – Meadowtown Shopping Centre
Roll Totals
-3.5 billion in 2015
NMC
-40 million in Strata properties, 20 million is Single family homes, 12 million in class 6
-78.8 billion in 2015, only 4 million in SFD
4 May 2018

8. Market Change New valuations reflect the market as of July 1, 2015
All properties types saw a change in the range of +5% to +15%
Single Family Homes
Residential Strata
Commercial Properties
Industrial Properties
Property counts
Single Family Counts – 3,800
Residential Strata – 2,870
Commercial/Industrial – 260
Farms - 455
-average single family home: $580,000
-average town house: $320,000
-average condo: $$245,000
4 May 2018

9. Additional resources bcassessment.ca
Customer Services, including e-valueBC (assessment search tool)
B.C. Provincial government
Property Assessment Review Panel
Property Assessment Appeal Board
Home Owner Grant
Property Tax Deferral Program