What does the Property Assessment Review Panel Do?
In January, the BC Assessment Authority sends all BC property owners a Property Assessment Notice which informs the owner of the fair market value of their property as of the valuation date of July 1, 2022. In addition, the Notice indicates the classification and any entitlements to exemptions from taxation that may apply for that property. This assessment information is used by the Province and local Governments to calculate that year's property taxes.
After receiving a Property Assessment Notice, property owners are encouraged to review the Notice and discuss any concerns regarding the assessment with BC Assessment. If the concerns or issues raised cannot be resolved, a formal property assessment complaint can be filed to be heard by a Property Assessment Review Panel, or PARP.
The Property Assessment Review Panel (PARP), BC Assessment (BCA) and the Property Assessment Appeal Board (PAAB) are completely independent bodies and are not associated with the municipal and provincial taxing authorities. This independence allows the Property Assessment Review Panels to conduct fair and impartial hearings and remain focused on the assessment of land and improvements.
Many property assessment complaints are based on a concern that an increase in one’s property assessment automatically means an increase in property taxes. This is not necessarily true as assessment and taxation are separate processes. A decrease in an assessment does not necessarily mean lower property taxes either. Each year tax rates are set based on the projected budget of the taxing jurisdiction required for that year and the overall value of property assessments in each property classification.
In addition to Municipal or Rural property taxes, one's property tax bill may include levies for provincial school tax and other levies for agencies such as transit, hospital, policing, sewer, finance authority and BC Assessment. Issues related to taxation are beyond the authority and responsibility of the Property Assessment Review Panel.
To obtain evidence you can visit the BC Assessment Office website to determine what other similar properties are being assessed for as well as ask your local REALTOR® (me) to help you gather EVIDENCE as to why you disagree with your value. Keep in mind, stating that the value is not FAIR, or that it went up X percent and that it can't be reasonable is NOT EVIDENCE. If you don't provide the Panel with any evidence, they cannot help you appeal the value.
Reach out to me anytime with questions.
DenisePosted by Denise Brown on