Preloader

property tax Tag

HomeTag "property tax"
Featured Image
Events, Announcements, Important Info

Property Tax Workshop 2021

December 16, 2020by SBIA0 comments

Let’s Talk About Property Tax

As part of our Strathcona Tax Empowerment Program (S.T.E.P.) we are bringing back our annual Property Tax Workshop so you can prepare for what’s ahead for commercial taxation in 2021. 

Will businesses and commercial property owners see relief on the tax bill next year? How will changes to COVID-related rebates experienced in 2020 impact what you pay? Which property sales have impacted Strathcona area assessments? The assessment roll drops on January 1st and we’ve partnered with commercial tax agent, Paul Sullivan from Burgess Cawley Sullivan & Associates, to analyze the data and bring you the key information you need to know.

Our virtual “Let’s Talk About Property Tax” workshop takes place on:

Thursday January 7, 2021
2pm-3:30pm
The workshop will be held on zoom.

All SBIA members are invited to join the workshop to learn about:

  • What’s ahead for commercial taxation in a COVID-19 recovery year
  • A snapshot of sales and assessment trends in Strathcona in 2021
  • How to appeal your assessment and key dates

Tools and Resources

We’ve updated the Appeal Process Tool Kit for 2021. Find the data on relevant sales that likely had an impact on assessed values in the Strathcona BIA area this year on the last page.

Appeal Process Toolkit for 2021

Quick Links for the Assessment Appeal Process

First level of appeal: www.bcassessment.ca

Second level of appeal: www.assessmentappeal.bc.ca

BC Assessment Contact Inquiry Form
(or call BC Assessment at 1-866-825-8322)

Register to the BC Assessment Site to:

  • search and browse properties on a map
  • create property comparisons

Notice of Complaint (Appeal) Form 2021

Please don’t hesitate to reach out to the Strathcona BIA with any questions you have regarding the property assessment appeal process at 604-258-2727 or info@strathconabia.com.

We are consistently working on commercial tax advocacy in partnership with all 22 BIAs in Vancouver on behalf of our business communities and BIA members.

Read More
Important Info

How to Appeal Your 2020 Property Assessment

January 17, 2020by SBIA0 comments

Note from Theodora Lamb, SBIA Executive Director

Dear SBIA Members,

The notice of your latest property assessment arrived on January 2nd, 2020. For tenants who have not seen a copy you can reach out to your property owner or manager or look up your assessment at bcassessment.ca. The SBIA has created a toolkit for members to help guide you through your property assessment decision and navigate the appeal process if that’s a step you choose to take.

We know that rising property tax has been one of the greatest challenges facing local businesses in Strathcona. Last year, the SBIA introduced the Strathcona Tax Empowerment Program (STEP). As part of STEP, every member of the SBIA benefited from a commercial tax agent’s opinion on their 2019 commercial property assessment. Approximately 14% of members chose to engage the agent, and nine of those properties were successful in their appeals. They achieved a combined tax savings of $195,000 and an overall reduction in property assessment value of $15,237,395. 

For 2020 we want to equip you with the tools to investigate the appeal process. Working with a tax agent is also an option for those wanting professional support. Tax agents give you the option to pay a pre-determined rate or work on a contingency basis. Please reach out to the SBIA office at 604-258-2727 or email theo@strathconabia.com if you would like an agent recommendation.

Please don’t hesitate to reach out to the SBIA with any questions you have regarding the property assessment appeal process.

Warmly,

Theodora Lamb,

Executive Director, Strathcona BIA 

Read More
Featured Image
Important Info

Supporting our members in the face of rising property tax

June 14, 2019by SBIA0 comments

Program Update

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.

Properties Reviewed: 402

Recommended for Appeal: 137

Not Recommended for Appeal: 265

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

Equity

The taxpayer has the right to be assessed at the “lesser of” market value or comparable assessments.

9% of recommended properties

Improper Classification

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.

BC Property Assessment Appeal Process Timeline

We’ve created an appeal process timeline to help you plan for next year.� For detailed information on the BC assessment appeal process visit:

www.bcassessment.ca�(1st level of appeal)

www.assessmentappeal.bc.ca�(2nd level of appeal)

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.

Call Us: (604) 258-2727

Email: theo@strathconabia.com

Read More
Featured Image
Important Info

Commercial Tax Shift

June 13, 2019by SBIA0 comments

On April 29th, 2019 Vancouver City Council voted in favour of a 2% tax shift from commercial property tax to residential over the next three years. The tax roll will shift one per cent in 2019 and 0.5 per cent in both 2020 and 2021. Businesses that own or are a tenant in an average commercial property can expect savings of $508 in 2019. Currently, businesses shoulder 42% of the property tax burden while consuming only 23% of City services.

http://www.strathconabia.com/wp-content/uploads/2019/06/Consumption-of-Services-Infographic.jpeg

As part of our ongoing commercial tax advocacy in service to our members, SBIA Executive Director Theo Lamb, along with several other BIA leaders, spoke to Council in person and ultimately made the winning case that led to a majority Vancouver City Councillor vote in favour of this tax shift.

Vancouver has not seen a tax shift since 2012. We see this as a positive first step in addressing the unfair tax burden shouldered by the business community of Vancouver. There are many issues and drivers that contribute to high property taxes, and we look forward to working with stakeholders and the City to advocate for continued solutions and policies that provide relief to our commercial property owners and tenant businesses and organizations.

Read more about this Vancouver City Council decision in The Province and the Vancouver Sun.

Read More
Back To Top