Tax Alert | British Columbia Property Tax Deadline Approaching

Property owners and tenants in British Columbia are reminded that the deadline for filing an appeal to challenge a 2024 property tax assessment is January 31, 2024.

British Columbia uses an annual revaluation cycle, with property tax assessment values determined based on the market value of land and improvements as of July 1 of the previous calendar year. Property tax assessments for 2024 are based on a valuation date of July 1, 2023. However, the date to be used in assessing the physical condition of a property is October 31, 2023. Taxpayers are entitled to be assessed on the lessor of market value and the assessment value of comparable properties.   

The province has a two-level property tax appeal system. However, while late appeals may be considered in exceptional circumstances, if a Notice of Complaint (first-level appeal) is not filed with the Property Assessment Review Panel by the January 31 deadline, little can be done to challenge an unfair or inaccurate assessment until the next revaluation.

When reviewing your property tax assessment to determine whether it should be challenged, consider the following questions:

• Is the assessment equitable with that of similar properties?
• Have all economic changes in the market been properly reflected in the valuation?
• Are non-assessable items, such as machinery and equipment, included in the assessment calculation?
• Is the tax classification correct?
• Have there been any physical changes to the property, such as additions, demolition, damage, or contamination?
• Has there been a recent change in use in all or a portion of the property?

More Information

With more than 850 global professionals in 41 cities, Ryan has the local market expertise and resources to successfully manage your organization’s property tax obligations. Our integrated team can maximize any potential property tax refunds while ensuring compliance with the regulatory requirements in all Canadian jurisdictions.   

If you have questions regarding your assessment or would like further analysis to determine if you could benefit from an appeal, please contact your Ryan representative or use the form below.