Assessment and Tax Appeal

Appealing a commercial property assessment can be a time- consuming and frustrating experience for the average property owner, but we can help!  Kent-Macpherson is the Interior’s largest appraisal and realty tax consulting firm.  Our team includes former BC Assessment Senior Appraisers that have the specific knowledge required to value commercial properties for assessment purposes. We will negotiate with BC Assessment, and if required, file your appeal(s) and assemble and prepare all evidence.

To initiate an assessment review please contact: info@kent-macpherson.com.


Why Have An Assessment Review?

Do you ever look at your commercial property assessment and wonder if it is accurate and equitable with similar properties within your municipality?

Have you ever considered getting a professional review of your property assessment but didn’t know who to call?

  • We will review your current Property Valuation Summary (PVS) and compare to actual revenue (if applicable) and bring to the assessor’s attention any discrepancies the review identifies.
  • Ensure that valuations are made in accordance with accepted appraisal theory, provincial legislation, valuation and cost manuals.
  • Identify comparable properties in the area to determine equitability of your assessment with the assessment of similar properties.
  • Negotiate equitable settlements with BC Assessment appraisers.
  • Assemble and prepare evidence and reports to support our position.
  • File appeals, prepare valuation reports and appear before assessment review panels and assessment appeal boards.

What Makes Us Successful?

Kent-Macpherson is one of the largest appraisal and consulting firms in Western Canada. We offer a specialized team of experienced appraisers and consultants with an extensive data bank and established network of valued appraisers located throughout the province. We also have several team members that have held senior positions with BC Assessment. We transfer our knowledge of the assessment process with a clear appreciation for the data required in order for the assessor to make an informed decision. With Kent-Macpherson’s industry knowledge, our firm has the experience to provide you with vast expertise in assessment policies and mass valuation procedures.

In the past few years our assessment reviews have resulted in over $200 million in reductions to assessed values for our clients, saving them hundreds of thousands of dollars in property taxes.

Our current affiliations include representation for members of the New Car Dealers Association of BC and the National Golf Course Owners Association of Canada, BC Chapter. We are also members in good standing of the Canadian Property Tax Association.

Our advantage is our knowledge of local markets and the assessment process.  As a result we have negotiated settlements on over 95% of the assessments we appeal.


Property Types We Review

  • General Commercial
  • Office Buildings
  • Shopping Centres
  • Hotels and Motels
  • Vacant Commercial Development
  • Residential Development Land
  • Industrial (vacant & improved)
  • Golf Courses
  • Care Facilities
  • Special Use Properties
  • Multi-Family (vacant & improved)
  • Neighbourhood Pubs & Liquor Stores
  • Self-Storage Facilities
  • Resorts
  • Commercial Strata’s

Fee Structure

We offer you a complimentary, (no fee) initial review of your properties’ current assessment. Should our review determine your property may be over assessed, inequitably assessed or incorrectly classified, we have several flexible fee options for our professional services. Depending on the nature of the project and scope, it can be either an hourly and/or daily rate; however most of our clients prefer our contingency based fee, where our fee is a percentage of tax savings realized as a result of our efforts.

With our contingency based option, there is no fee for our services if we do not achieve a change to your assessment.

Relationship Between An Assessment And Property Taxes

Property taxes are the linked directly to the property assessment that is issued in early January of each year. When establishing annual assessed values, BC Assessment follows mass appraisal procedures for all residential and commercial properties. Mass appraisal techniques can work well when there is an abundance of market data to analyze. This is generally the case with residential properties and some commercial properties. Unfortunately, the market data available is scarce for many property types. This shortage of market information increases the opportunity for error in the assessments.

Understanding your property assessment is critical, as it is the only way you ensure the property taxes you pay are fair and equitable in relation to other commercial properties within your community. A professional assessment review by someone who knows the ins and outs of the system can ensure that you or your tenants pay the lowest amount of property taxes possible.

Provincial Appeal Dates and Deadlines

Jurisdiction Assessment
Authority
Valuation Date Appeal
Deadline
Appeal Dates / Process Valuation
Cycles
British Columbia BC Assessment Authority July 1: of the preceding year, based on the physical condition of the property as of October 31 of the prior year January 31 January 31: First level of appeals due by to the Property Assessment Review Panel. (PARP)
April 1: First level decisions are mailed
April 30: Second level of appeals due by the Property Assessment Appeal Board (PAAB).
Annual Cycles

Key Dates In The Annual Property Assessment Cycle (As per BC Assessment)

January 1 – Assessment notices are sent out.

January 31 – Property Assessment Review Panel (PARP) Deadline.

All persons wishing to request an independent review before a PARP must file their written notice of complaint with the assessor by this date.

April 30 – Property Assessment Appeal Board (PAAB) Deadline.

A person must file an appeal to PAAB by this date. PAAB must promptly notify the assessor, affected municipalities and other parties about all appeals.

July 1 – Valuation Date.

The value is based on the physical condition and permitted use as of October 31 of the same year.

October 31 – Physical condition and permitted use date.

Throughout The Year

PAAB Hearings – PAAB hearings can take place at any time during the year. Assessed owners have 21 days from receipt of a PAAB decision to appeal that decision to the Supreme Court of British Columbia. Appeals to the Supreme Court are permissible on a point of law only.

Your Review and Appeal Process

Each year Kent-Macpherson reviews properties with assessments ranging from $200,000 up to $100 million. With our knowledge of the market and assessment process, not all reviews result in appeals. We often provide our clients with the peace of mind that their assessment is reasonable and equitable, therefore the appeal process is not is required.

For those properties identified as being either over or inequitably assessed, we have an excellent track record in negotiating a satisfactory reduction with the various BC Assessment offices. When it considered necessary to proceed with an appeal, you can be assured that all necessary steps will be undertaken to prepare each required submission and appraisal report on your behalf. Our professional review includes as many of the steps listed below that are required to obtain an accurate and fair assessment of your property.

Step 1 (Assessment Review)

Your assessment will be reviewed and compared to your property’s actual performance, recent sales and to the assessments of similar properties. As our client, we report back to you and advise whether to proceed with an appeal in addition to the potential tax savings involved. You are provided with an explanation and recommendation as to the course of action, the probability of success and the variety of fee options.

Step 2 (Appeal & Negotiation)

On your behalf, we file the appeal and prepare and supply the Assessor with an alternate valuation and all supporting evidence required to support our proposed valuation. We also respond to the Assessor’s requests and will attempt to negotiate a revised assessment.

Step 3 (Property Assessment Review Panel)

Where required, we will prepare a professional submission and in some instances appear before the Review Panel on your behalf.

Property Assessment Review Panels (PARP’s) are appointed by the Minister of Community, Sport and Cultural Development to review Property Assessments. They are completely independent of BC Assessment and taxing jurisdictions.

Step 4 (Property Assessment Appeal Board)

If unsuccessful at the Review Panel level, we will file an appeal to the Appeal Board level. This includes participation in all required Appeal Management Conferences (AMC’s) and submission of all required data that supports our case, or is requested by the Assessor. As we do not proceed to this level unless we feel the assessment is incorrect, we have a very high success rate without the need to go as far as a formal hearing or written submission. In the event that we are required to attend a hearing, we will prepare all essential submissions and appraisal reports.

To contact us to initiate an assessment review please click here   info@kent-macpherson.com

For more information on the appeal process and important dates please visit the BC Assessment website at www.bcassessment.com

2017-01-17T18:51:36+00:00January 20th, 2014|Categories: Assessment & Tax|Tags: , , |