BC Assessment's business is to provide a stable and predictable base for real property taxation in British Columbia. The corporation determines ownership and tax liability, classifies and values each property in British Columbia. To meet its goal, BC Assessment completes an Assessment Roll every December 31.
BC Assessment mails individual Assessment Notices, with entries recorded from the Assessment Roll, to all property owners in the province. Once audited and authenticated by the Property Assessment Review Panel, BC Assessment presents the Assessment Roll to various tax jurisdictions: municipal governments, regional districts and the Ministries of Education and Health. The Assessment Roll is used by tax jurisdictions to form the basis of their Tax Rolls. Tax jurisdictions set tax rates for each of the nine property classes.
BC Assessment maintains an extensive and up-to-date information database on all properties in British Columbia. Public access to this electronic database is available through BC OnLine. For a fee, BC Assessment will also produce custom information reports.
BC Assessment provides accurate property and value information to:
- tax authorities;
- property owners;
- municipal, provincial and federal government agencies;
- realtors, appraisers, lawyers, bankers, title search companies;
- other private and public agencies.
BC Assessment's operations are financed principally through a levy on all properties. Other revenue sources include the sale of information services and products to various levels of government, the private sector, and national and international markets.
Checks & Balances
The valuation of property by BC Assessment is subject to checks and balances in the form of legislated review and appeal procedures through the Property Assessment Review Panel and the Property Assessment Appeal Board.