What Can We Do For You?
Austin Real Estate Consultants has been saving tax payers money for over 40 years. After our initial review, if we recommend an appeal, there is a 75-80% chance that a reduction will occur.
Some of our major clients include Bosa, Townline, Pattison, ICBC, Pinnacle and Shoppers Drug Mart, who rely on the years of experience that Peter Austin has accumulated as an appraiser and tax consultant. He was a partner of a major Vancouver appraisal company for 25 years, prior to starting his boutique property tax consulting company.
Property Assessment Appeals
Property Taxes are determined by multiplying the tax rate by the assessed value. Tax rates vary according to their use or class.
If you disagree with BCA’s valuation or classification an appeal must be lodged with BC Assessment by January 31st in any year.
BCA conduct mass appraisal. There are several reasons why the assessed value may be incorrect. BCA may have:
- not been aware of particular features of a property (low ceiling area).
- incorrect data for the property (building size).
- used incorrect components in the valuation.
- compared the property with the wrong comparables.
- incorrectly classified the property.
We can review your assessments, file an appeal if appropriate, negotiate with BCA and hopefully reduce what you are due to pay. We make it simple.
Please contact me for a free consultation on the process.
Appeal Deadline is January 31st (But don’t leave it till then!).
If you do not appeal by that date, you will have to wait until the next year.
The Appeals Process
There are three stages in the assessment process.
Stage 1 - The Review
The first stage is to advise you whether there are grounds for an appeal. This must be completed before the end of January. Our initial review will be based upon an analysis of comparable properties, the subject tenancy schedule, income and expense statement, our general knowledge of the marketplace and discussions with yourselves and other market participants. Once this review is completed, a short report will be sent to you. If it is agreed to commence an appeal, we will file the necessary forms.
If you feel that at this stage an inspection or a more detailed analysis is required, it will be necessary to advise us, as the fee and time schedule is different.
Stage 2 – Negotiation
After filing the appeal, we will undertake further research, review the Assessor’s valuation, prepare a presentation to BC Assessment, attempt to negotiate with them and report back to you. The Assessor may recommend a new value which we will discuss with you. If no agreement is forthcoming, an appearance at the Property Assessment Review Panel may be worthwhile if the issues are relatively simple and easily documented.
Stage 3 – Appeal Board
If the Assessor and I cannot arrive at a value satisfactory to you, an appeal to the Appeal Board must be made. This entails a more detailed presentation and exchange of data with the Assessor, settlement conferences, preparation of a final report to be presented to the Board, and appearance at the Board, if necessary, however most cases are settled before the case gets to a hearing.
Fees For Appeals
Fees are reviewed at each stage as detailed below:
Stage 1
In general, the initial fee will be $1,120 for each major use for new properties. The fee is $980 if we have previously reviewed the property. More complicated properties, such as shopping centres, office buildings or special use properties, may require a higher fee. If there is excess land involved in the valuation, this is generally concluded to be an additional use as research is required in order to determine whether the excess land value, if any, has been correctly assessed. Similar properties will be charged a lesser amount.
Once we have discussed each property with you and specifically identified which of the properties will be reviewed, we will provide an exact fee quote.
Stage 2
The fee is on an hourly basis, total cost of which can vary, depending upon the type of property, location and grounds for appeal. Generally, we anticipate a fee between $1,500 and $5,000.
Stage 3
This is based upon an hourly fee. We work in increments of $5,000, advising you of progress each time the budget level is reached. We determine the cost effectiveness of continuing with each appeal before proceeding to the next stage. There can be either immediate benefits of continuing with the appeal based upon valuation or long term benefits where the Assessor has used incorrect assessment or valuation principles. Should this fee structure not suit your company, it can be modified.
We only incur fees if we believe that grounds for continuing an appeal exist. Throughout the process, if we feel no progress is being made we will stop work and discuss the issues with you.
How much does it cost to hire a property assessment consultant?
Will appealing my assessment affect my property's market value?
What kind of evidence is needed for a successful appeal?
Why hire Austin Real Estate Consultants?
When must I appeal by?
Why do I need a review?
Can I do my own appeal?
Contact Us
Austin Real Estate Consultants
Vancouver, British Columbia
V6L 3E2