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.

BC Assessment will continue its normal practice of reflecting property changes which have occurred since the previous assessment. These include changes such as new construction and development, property classification or use, tax exemption status, additions or demolitions. Assessments for properties with regulated values will continue to be based on rates set for the 2008 assessment roll.

Please refer to www.bcassessment.bc.ca/2009_assessment_roll_info/index.asp for more information about how BC Assessment has produced the 2009 Assessment Roll.

Excerpt taken from the BC Assessment website and included with the 2009 Assessment Statement mailed out to homeowners at the beginning of each year.