2023 Property Assessments Issued by BC Assessment
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The BC Assessment Authority has issued 2023 property assessments to property owners across British Columbia.
According to BC Assessment, residential property assessments in Cumberland (not including new growth) increased by 17%.
BC Assessment reports that the typical 2023 assessment value of a single-family home in the Village is $849,000 as compared to $727,000 in 2022.
A significant change to your property’s assessed value does not necessarily result in a proportionately significant change in your property taxes. It is less important how much a property’s value has changed in isolation, but rather how the assessed value has changed relative to the average change for the property class, e.g. residential.
The graphic below can help illustrate how assessments can impact property taxation:
Find out more about your property assessment from BC Assessment at Vancouver Island 2022 Property Assessment Notices in the Mail
Further information on how assessments relate to taxes on BC Assessment’s page, including videos on understanding property assessments and property taxes go to Your Assessment Notice and Property Taxes.
If you’ve recently moved you can update your property information and change of address notification with BC Assessment. Please be sure to include your PO Box number if you use one.
If you haven’t received your assessment notice please contact 1-866-valueBC (1-866-825-8322).
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