Suggestion 1 (simple method):

Look for sales of properties that are very similar to your property and also have the same negative factor (for example you both are on the same busy street).

• You can find sales on BC Assessment's website.
• The sale prices should indicate the value of your property with the negative factor.
• Compare your assessment to the sale prices:
  • If they are close, then your assessment is probably correct.
  • If your assessment is much higher than the sale prices, your assessment may be wrong.

Note: If your assessment is within 5% of the sale prices, then they are "close" and we probably would not reduce your assessment.
 

Suggestion 2 (more complex method):

Look for sales of properties that are very similar to your property except they do not have the negative factor that your property has.

• Their sale prices should indicate the approximate market value of your property (without considering the negative factor).
• Estimate how much the negative factor reduces your property value.
  • you can ask an appraiser or real estate agent to give their opinion (preferably in writing).
• Subtract the reduction for the negative factor from your approximate market value.  This is your estimate of the adjusted market value.
• Compare your assessment to your estimate of the adjusted market value:
  • If they are close, then your assessment is probably correct.
  • If your assessment is much higher than the estimate, your assessment may be wrong.

Note: If your assessment is within 5% of the sale prices, then they are "close" and we probably would not reduce your assessment.

If you appeal, it is best that you find some market evidence to support how much the negative factor reduces your property value. This is complicated, so you might wait until after you appeal.