The Strathcona BIA noted a dramatic increase in 2019 property values. The SBIA Board of Directors took action to support our members in the face of rising commercial property tax with a SBIA-wide review and appeal approach. Every member of the SBIA benefited from a commercial tax agent’s opinion on their 2019 commercial property assessment. Those properties recommended for appeal were filed collectively by the SBIA. All members were notified in print or by e-mail with next steps and options depending on the results of their appeal recommendation.
34% of all properties in the Strathcona BIA area were recommended for appeal.
Recommended for appeal
Not Recommended for appeal
The key factors that supported grounds for an appeal included:
Assessed value is higher than market value
Market sales are analyzed by BC Assessment to determine market value of properties. Due to differences between properties, some are over assessed based on the sales.
55% of recommended properties
Errors in income approach
An appeal may be warranted based on the income approach if the rents or leasable area applied by BC assessment is not reflective of market for the property type.
36% of recommended properties
Physical characteristics misrepresented
An appeal may be warranted if the assessor has misrepresented the size of the building on a property or the lot size itself.
0.7% of recommended properties
The taxpayer has the right to be assessed at the “lesser of” market value or comparable assessments.
9% of recommended properties
Classification determines which tax rate applies to your property. If you feel your property has been misclassified this would warrant an appeal.
insufficient information at time of investigation
Approximately 14% of members recommended for appeal opted to work with our agent to pursue action. Others decided to represent themselves or work with other commercial tax agents. Some property owners withdrew appeals or took no action, resulting in expired appeals.
Get in touch with your appeal story.
The SBIA is collecting the neighbourhood wide results for a full report back to the membership in the Fall.
If you would like to share your appeal process story and results with us, please reach out below.