BC Assessment is responsible for assessing over 2 million properties in British Columbia as of July 1 each year.
The assessment process in British Columbia is governed by the Assessment Act of British Columbia. The Assessment Act is legislation that provides rules and processes for BC Assessment to follow when creating and delivering property assessments.
The Assessment Process (Three Steps)
1. Information collection
Information is collected and analyzed by BC Assessment appraisers for all properties in British Columbia. (Most often this information collection occurs when properties are created/constructed, but can also occur at other times like when properties are renovated.)
2. Information analysis
Property sales are analyzed by BC Assessment appraisers to understand the property market as at July 1st of each year. This new market information is used to set the new assessments.
3. Create and deliver assessment notices
Assessment notices are created and then mailed to all property owners on December 31 each year.