It is that time of the year when BC home owners receive their annual Assessment notices of home values. As of January 1st you can view the values on the BC Assessment website. Just enter the address in of any home in BC. The government also sends out the notices, through the mail, which should show in your mailbox this week. In the video below, Bill will discuss the meaning of these notices and highlight how the value is determined. One take way from this video, the value is from July 2020 and is not market value but a value determined through algorithms bases on what has sold recently in your neighbourhood and none improvements to your home by the assessment authority, and in the end is used for tax purposes. For a more accurate up-to-date value of your home you should contact your REALTOR® to give you a current market evaluation or a bank appraiser.
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