This is actually an old post that I'm re-sharing here. Many of my clients have has their assessed values decrease slightly this January for the first time in a several years. They've been wondering if this means that they will be paying less in property tax. However, a decrease or increase in assessed value doesn't directly correspond with how much tax you will later pay. What your property tax bill DOES depend on is is how much your property assessment increased or decreased

Property assessments were mailed out recently and if your home landed below the $1.6 million mark, you can still qualify to receive a basic Home Owner Grant of $570 per year thanks to a $400,000 increase to the qualifying limit courtesy of the B.C. government. There may be other breaks in store too. The bump up from last year’s $1.2 million cap was announced today by Finance Minister Mike de Jong in response to the significant increase in assessment values. If you’re in a sin