"“This year, property owners will see some changes in the way BC Assessment has prepared their property assessment notices,” said Fair. “Notices will show the market value of their property as of both July 1, 2007 and July 1, 2008. The lower of these two values is the official 2009 property assessment."

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Government accounting at its finest. If you need any proof that your BC Assessment value is just a number, look no further.

They must have all been sitting in a room and saying "Things look really bad in terms of real estate values, how can we make it look better than it really is?"

if you have a problem you can ask for an actual assessment not sure if it costs you anything though. But with the falling real estate market it might be an idea

Seriously, If the city needs to raise 100 million dollars in taxes, there only going to be changing the mill rate anyway, so it really does not make any difference. The entire purpose of the assessment is for the government to say that they have done their due diligence to assess everyone with the same conditions. Nothing to do with the real estate selling price nor construction costs.

Ahh but the difference is that your neighbors are likely not motivated enough to challenge their assessment... You just need to lower your assessed value compared to theirs.

Just another totally useless Gov. department
please stick it to us, we love it,we want to see higher and higher numbers we love to pay more, do we ?

"“Notices will show the market value of their property as of both July 1, 2007 and July 1, 2008. The lower of these two values is the official 2009 property assessment."

Unfortunately they have re-assessed the July 1, 2007 dramatically upwards (as shown on the notice just received) and therefore the difference between the 2007 and the 2008 assessment values has been reduced to being very small, although no changes have been made to the property at all.

Wish that the previous 2007 assessment would be the one the taxes would be calculated on, but another bureaucratic manipulation will assure that the taxes will go up again.

The city needs the money with all the new projects coming up: the 51 million dollar PAC, the RCMP station, the Cameron Street Bridge cost overrun, etc. Has the 8 million dollar outdoor ice oval idea been shelved for now?

If I were trying to sell my house, I would want the assessment to show the highest figure since the assessments are used by some to provide an indicator of the market value of the house.

As far as taxes go "he speaks" has it right, the mill rates are going to be adjusted to generate the revenues the City needs. If everyone's values are the higher one, then the mill rates will be lower than if everyone's values are the lower of the two.

BTW, my assessment does not show both figures, only the lower one of the two. I have to dig out last year's to see what that was. I might have shredded it. Oh well.

Gus, the figure is there in the fine print about half way down the page.

My house assessed for a little more this year (no idea why considering the real estate market), but they went 'officially' with last year's number.

It doesn't matter, the city will extract whatever it needs through adjusting the mill rate as has been mentioned many times.

"My house assessed for a little more this year (no idea why considering the real estate market), but they went 'officially' with last year's number"

Ditto.

Mine too was assesed at a higher rate..... VERY unlikely I could even consider asking that much the way things are currently.

MrPG. Thanks. Found the fine print. It says my property has changed between July 2007 and 2008. It says the new figure "reflects the new condition or use". I could swear I still have the same property and I am still using it as a SF residence.

Gus, that is exactly what it says on mine too to explain why the number is so much larger than the 2007 assessment. However, the use and the condition have NOT changed.
Everthing is still the same.

The news media reports that 90% of B.C. homeowners will find that they will be taxed on the 2007 assessment. Looks like we are part of the exclusive 10% who have a *new condition or use* - I suspect that it would be futile to argue with B.C. Assessment as to how and why it came to that conclusion.

There, time to throw in the towel. Cheers!

my official assesment is 100 bucks less than what it was last year because it was projected sometime in 07 thats what it would be ...
a little history .. the paper i received in Jan of 07 stated X amount, the one I received in 08 stated 27 thousand dollars above that amount and yeaterday I get a peice of paper stating that it hasent officially changed but the when the assesments are don .. juneish they assesed at 10 grand over the last amount but yet officially I am 100 bucks below last years official assesment ?

I am so confused