OPTION 1: Advice from Professionals:
You may get advice from an appraiser or real estate sales agent on your property's market value.
- Usually is the best evidence.
- It analyzes property sales, which are most similar to your property.
- The main disadvantage is the cost to hire an appraiser. This cost is often more than any tax savings you will get - even if you are fully successful in your appeal.
- You may not want to pay this expense until after you decide whether to appeal.
Real estate agent's opinion:
- An agent might only give you a verbal opinion or a very brief written statement with no supporting evidence.
- It can help you decide whether or not to appeal.
- If you decide to appeal you will need more evidence to have a better chance of success.
OPTION 2: Research evidence on your own
You can do your own research, especially now, when deciding whether or not to appeal.
- Look for sales that are most similar to your property.
- The sales should have occurred as close as possible to July 1 last year. This is valuation date for your assessment.
- You can find sales:
- BC Assessment's website: e-valueBC
- Multiple Listing Service (MLS) database - you need a real estate agent to access this data
Listings of properties for sale are not very useful, because they do not truly indicate market value. A Listing is just one owner's asking price.
For further guidance you can view: Step 1 in Preparing Submissions on the Market Value of your Property.
Later in this section, we will help you interpret the sales.