Land assessment averaging

Land assessment averaging gives property owners temporary tax relief by phasing in tax increases due to changes in land values set by BC Assessment.

While averaging doesn't change the total property tax we collect for the entire city, it may affect:

  • The amount you pay to us
  • Other tax authorities (like provincial schools, TransLink, BC Assessment, and Metro Vancouver)

By March 31 each year, Council decides whether to continue to use:

  • Averaging to calculate property taxes
  • The eligibility criteria and requirements

How averaging works

To calculate a property's taxable value for averaging, we:

  1. Add the assessed land value for the current and past two years.
  2. Divide the result by three for an average.
  3. Add the result to the building value for the current year.

 Only the land value is averaged, not the building value.

Appeal an incorrect averaging

You can request a review if we misinterpreted or misapplied the Land Assessment Averaging Bylaw to your property.

  1. Download the Averaging Review Request Form  (120 KB)
  2. Complete the form
  3. Send the form by email, mail, fax, or in person to the collector of taxes before the last business day of July

You can appeal the decision within 30 days of the decision to the Court of Revision.

  Taxes remain due while your appeal is in process. 

What properties are eligible for averaging

Your main tax notice will show averaging in the property value table if the taxable 2016 land value is different from the assessed 2016 land value.

Your property is eligible for averaging if it:

  1. Is a residential (class 1), light industrial (class 5), or business (class 6) property
  2. Has significantly increased in value since last year, over a threshold of:
    • 30.13095% for residential
    • 31.23121% for light industrial and business

If your property isn't eligible, it will be taxed based on its 2016 assessed value, just like in other BC cities.

Was your property eligible before, but not anymore?

How we set the threshold

How to calculate the per cent change in your property value

Tax rates for property classes eligible for averaging

Residential

Find this year's residential (class 1) property tax rate.

Light industry

Find this year's light industry (class 5) property tax rate.

Business and other

Find this year's business and other properties (class 6) tax rate.