Mixed Use Properties
Potential reclassification for Property Taxation
October 28th, 2016
The result of the "Amacon" case, that concluded that "Land went from the ground into the air-space above it", could result in a change of classification for mixed-use sites, where the zoning permits residential use. This could affect properties that have commercial use on the main floor but permit residential. One key factor is whether BCA can accurately assess a specific portion or % that does not permit commercial.
The % of residential class will vary depending upon the zoning and the current use.
There are currently over 350 properties under appeal, 41 of which are in the same zone as the "Amacon" property. BCA will address these first which will likely not be till December. The others will be dealt with on an ongoing basis.
BCA's review of those properties will not occur until 2017, hence an appeal will need to be lodged for 2017 assessments.
IT IS IMPORTANT NOT TO APPEAL without discussing the issues with a tax consultant. If you are discussing this issue with your neighbours, please have them call me.
An unmerited appeal clogs up the system and gives BC Assessment unnecessary work.
If you have any questions, please contact me.
Peter Austin, BSc. AACI, CArb
- Minimizing Property Tax on Development Land
- Why Such An Increase 2021 Industrial Property Taxes?
- Burnaby Industrial Properties Appear to be Over-Assessed
- Have BC Assessment Over-assessed Retail Spaces
- 2021 Property Assessment Value Changes
- Assessment Of Residential Sites Under Construction
- Should Homebuilders Be Paying Additional School Tax?
- City of Vancouver Land Averaging 2020
- Government Assistance: Property Tax
- 2020 Assessment of Apartment Properties
- Development Sites: Is The Additional School Tax Applicable?
- 2020 Property Assessment Value Changes
- BC Lower Mainland Market Update 2020
- Taxes Affecting Real Estate In 2019
- Development of Sites Under Construction - 2020
- Land Averaging For 2019 Property Tax In Vancouver
- 2019 Property Assessment Value Changes
- Understanding B.C.'s Proportional Representation Referendum (PPTX)
- Amacon Update
- Vancouver Vacancy Tax
- 2018 Property Assessment Value Changes
- Misconceptions within the Property Assessment Process
- Mayor's Council Proposal for Funding Transit
- Resolving Disputes - A New Approach
- Mixed Use Properties - Potential reclassification for Property Taxation
- Classification of Mixed Use Properties September 2016 Update
- Possible Effects of FIT on Assessments
- BC Foreign Investors Tax
- NAIOP Industrial Panel
- Classification of Mixed Use Sites - Part 2
- Opportunities for Brokers
- Valuation of Properties Under Construction
- Is Assessed Value Equal to Market Value?
- Civil Resolution Tribunal Update - October 2014
- Assessment Appeal Board Changes Classification for Mixed Use Development Sites
- Strata Civil Resolution Tribunal Update
- Reviewing Appraisals - Download
- Resolving a Rental Dispute
- How are School Taxes Calculated? | doc