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.