Tax revenue provides money for needed municipal infrastructure, city services, government benefits, and support for non-profit housing co-ops, whether for rent supplements or funding assistance for building reports. Hopefully we can keep that thought in mind, because it’s property assessment time again and taxes will follow!
BC Assessment has sent out its usual paperwork, and your co-op will have a new assessed valuation of its property and buildings. If you disagree with the assessment, your co-op can file an appeal, but it’s a good idea to speak with BC Assessment staff first. You have until
February 2, 2026, to file an appeal. (January 31 falls on a weekend, but don’t leave things to the last minute!)
Conveniently, if you have not received your assessment in the mail, you can access it
online.
We share our usual key points to consider when it comes to your property assessment.
Key Considerations
- Increases in assessed value do not translate directly into property tax increases. If your property value increased more (or decreased less) than the average in your area you may see proportionally higher tax increases compared to other property owners. (Absolute amounts depends on how municipalities budget.)
- Homeowner grants may have an offsetting effect.
- Some co-ops choose to file appeals. They can do this on their own, some seek help from management companies, and others use firms that specialize in such matters. CHF BC doesn’t make recommendations for service providers, but we do note that Add-Vance Consulting Ltd. (Vance Leschuk, 778-789-5037, [email protected]) has worked with housing co-ops in the recent past, and has indicated possible discounts for CHF BC members. That firm, and possibly others, also offers a recovery-fee option, which means no upfront costs for services. Check around to evaluate your options.
Appealing an Assessment
There are
three common avenues to appeal your assessment, beyond notifying BC Assessment of simple clerical mistakes:
- Your buildings may be worth less than BC Assessment thinks. This is often due to needed building repairs and renewals, and making this argument is usually the easiest. Supporting engineering documents (e.g., building condition assessments showing envelope work is needed) can assist in substantiating an overvaluation claim. For buildings in this situation, there can be an opportunity to achieve a one or two year discount on the associated property taxes. Once the work is completed, the opportunity is likely gone. Conversely, if your co-op has undergone significant capital works in the last couple of years, you may anticipate relative increases in your assessed value.
- Legal restrictions on the use of the land can also reduce assessments. Covenants on title may serve to lower the assessed value, as may other land use restrictions.
- Sometimes BC Assessment makes a mistake. Comparisons with other similar, nearby properties are the best way forward in these cases. This takes some research.
The
BC Assessment website has information you’ll find helpful. However your co-op decides to proceed, please remember the deadline for filing an appeal.
If there is any chance you will want to dispute your property assessment, you should contact BC Assessment before the end of the month. The filing deadline is February 2, 2026.
