Article: Property taxation in British Columbia and the city of Vancouver: averaging and phasing options for land valuation.

Averaging or phasing land values for the property tax rolls may help municipalities in British Columbia maintain stability and certainty in the taxation base during periods of rapid change in local real estate market conditions.

Market value is the approach used for assessment of real property in British Columbia. An independent assessment agency appraises all land and buildings on a biennial basis and assigns them to several classes based on use, i.e., residential, utilities, industry, commercial, farm. The taxable values for each property class are then established at 100 percent of the market value. There are no fractional adjustments to these values.

Variable Tax Rates

Related newspaper, magazine, and journal articles:

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!