PROPERTY ASSESSMENTS & PROPERTY TAXESPosted by Stephen Foster on
Assessed Value vs. Market Value
How does BC Assessment Determine Property Values?
- The location of the home
- The size of the home
- The size of the lot
- The age of the home
- Miscellaneous features that can affect the home's value
- Comparable sales prices and other real estate market information
Information is collected through a comprehensive approach from a variety of sources for accuracy such as: building permits, land titles office, real estate transactions, property owner initiated updates, request sent to property owners, visits to properties, aerial and street front imagery.
The value of your property may have changed if you have:
- Renovated recently ie. replaced kitchen cabinets
- Added any…
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