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Market Value vs. BC Assessment


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Blog by Doug Treleaven | February 4th, 2013


Why is the amount on my BC Assessment different from the 
market value determined by my realtor? 
Both BCA assessors and REALTORS® calculate market value by analyzing sales 
of comparable homes within a local market, and look at factors that affect 
value such as size of home, view, location – on a busy or quiet street, number 
of bedrooms, construction quality, floor level, and garage or parking stalls. 
Where every lot and every home on a street are typically the same, both BCA’s 
value and a REALTOR’s® value will be similar during stable market conditions. 
Differences occur in neighborhoods where lots have been rezoned or are 
different shapes and sizes, where architecture and views are unique, and 
where owners have made changes that BCA hasn’t yet taken into account. 
Differences also occur during market instability when prices rise or fall during 
the six-month period between July 1 and January 1 the following year. 
It is important to remember that a property valuation is not a fixed or 
permanent number. It is simply a snapshot of what your home is worth today, 
in relation to current market conditions and what other, similar properties are 
selling for. This value can change over time based on improvements to the 
property, as well as changes in your neighbourhood and the overall housing 
market. 
From: The Real Estate Board of Greater Vancouver
Why is the amount on my BC Assessment different from the market value determined by my realtor? Both BCA assessors and REALTORS® calculate market value by analyzing sales of comparable homes within a local market, and look at factors that affect value such as size of home, view, location – on a busy or quiet street, number of bedrooms, construction quality, floor level, and garage or parking stalls. Where every lot and every home on a street are typically the same, both BCA’s value and a REALTOR’s® value will be similar during stable market conditions. Differences occur in neighborhoods where lots have been rezoned or are different shapes and sizes, where architecture and views are unique, and where owners have made changes that BCA hasn’t yet taken into account. Differences also occur during market instability when prices rise or fall during the six-month period between July 1 and January 1 the following year. It is important to remember that a property valuation is not a fixed or permanent number. It is simply a snapshot of what your home is worth today, in relation to current market conditions and what other, similar properties are selling for. This value can change over time based on improvements to the property, as well as changes in your neighbourhood and the overall housing market.

 From: The Real Estate Board of Greater Vancouver