PROPERTY TAX - INFORMATION
Understanding Your Property Taxes
What is property assessment?
Property assessment is the process used to assign a value to all property. Consistent guidelines and techniques allow property assessors to ensure that similar kinds of property are assessed the same way, and that assessed values for each property are fair and equitable.
Only land and improvements include buildings, mobile units, pipelines, works and transmission lines are assessed. Personal property such as jewelry, cars, televisions and other personal possessions are not assessed.
Understanding Property Assessments & Property Taxes
Property assessments are about determining HOW property taxes are distributed. BC Assessment provides local governments and other taxing authorities with accurate and independent assessment information. Local governments and other taxing authorities use that information to determine funding for important services used every day in communities all over British Columbia.
Learn more about the relationship between property assessments & property taxes by viewing the video below:
What is property taxation?
A system of taxation that requires lessees, owners or occupiers of land and buildings to pay an amount of money based on the value of their land and buildings. Everyone who owns or occupies property, including individuals, businesses and industry pays property tax.
Why do we pay property tax?
Like most other taxes, property tax is imposed by the government to generate money for a public purpose, and is compulsory and enforceable by law.