2009 Assessment Roll Information
For the 2009 Property Assessment Roll only, BC Assessment will be providing property owners with the market value of properties as of both July 1, 2007 and July 1, 2008. The lower of these two values will become the 2009 assessed value for most properties.
On November 27, 2008, the provincial government passed the Economic Incentive and Stabilization Statutes Amendment Act (Bill 45), which provides special valuation rules for the purpose of the 2009 tax year only.
This initiative is part of the B.C. Government’s economic strategy to provide stability and predictability to British Columbians in response to the downturn in the real estate market which began mid-2008.BC Assessment will post information updates on this web page to keep the public informed.
Please refer to the Media Bulletin below for more information about how BC Assessment has produced the 2009 Assessment Roll.
Important News
Feb 19/09: Media Bulletin - 2009 Inquiry and Appeal ResultsUnderstanding the 2009 Assessment Notice
2009 Assessment Roll Facts
First Nations Property Roll Fact Sheet
Nov. 14/08: Media Bulletin – BC Assessment – 2009 Assessments
Nov. 9/08: Kevin Krueger-Letter to Editor- Vancouver Sun
Frequently Asked Questions<
Nov. 7/08: Government Media Information Bulletin on 2009 Assessment Roll Appeal Process
Nov. 7/08: Opinion-Editorial: Minister Kevin Krueger RE: Certainty for Property Owners
Nov. 1/08: BC Government news release-2009 assessments locked in at July 1, 2007
(2008 Assessment Roll) values
Links to other information
Ministry of Community and Rural DevelopmentProperty Assessment Review Panels
Property Assessment Appeal Board
Single Family Residential and Strata Residential Charts
The following charts are based on BC Assessment data for the categories Single Family Residential and Strata Residential. The charts highlight the median sale price and sale volumes by quarter from January 1, 2007 through September 30, 2008 for each category.
The median is the middle of a distribution or range of sale prices: half the sale prices in the distribution are above the median and half the sale prices in the distribution are below the median. The median is less sensitive to extreme sale prices within the distribution than the mean or average.
These graphs will give property owners a clear picture of province-wide real estate sales activities and trends from January 1, 2007 through October 31, 2008, including values as at July 1, 2007 (the start of Quarter 3), which is BC Assessment's market valuation date.
Provincial Single Family Residential Median Sale PriceProvincial Strata Residential Median Sale Price
Temporary property tax deferment program
The Government also introduced a new property tax deferment program on November 1st, 2008. Here is the excerpt from the news release and a link to their brochure for more information.
The Province will create a new, temporary property tax deferment program. The program will allow people with at least 15 per cent equity in their home, who attest that they are experiencing serious financial difficulties due to current economic conditions, to defer their property tax payment for each of the next two years. Homeowners will not have to pay the deferred taxes until they sell their home, but can pay the Province back earlier if they choose. The Province will charge interest at the prime rate on the balance outstanding on the tax deferment loan, while ensuring local governments receive property tax revenues. This will help homeowners who would otherwise have to try to qualify for a home equity loan during the current credit crunch.
This new program is in addition to the current program, which benefits homeowners who are 55 years or older. The program will not impact the provincial budget because it is considered a secured loan. It does affect taxpayer-supported debt to the amount that it is drawn down. Administrative costs to the program will be minimal.
Information on the BC Government's property tax deferment program.
