Residential Assessment –  Valuation Principles

• BCA value the house based upon comparables.
• BCA determines land value and subtracts it to get building value.
• The land value is irrelevant if there is building value except in Vancouver.
• In Vancouver the higher the land value the better due to land averaging.
• Assessed value in Vancouver is calculated as follows:

  Land – Average of last 3 years
  Bldg – Current year value

  This means the overall increase is reduced.