Land assessment averaging
Land assessment averaging provides temporary relief to property owners by phasing in tax increases over a number of years.
This program is revenue neutral to the City of Vancouver, which means the total property tax collected with or without averaging is the same.
How does land averaging work?
Each year, City Council considers whether to continue the use of land assessment averaging for the calculation of property taxes. If the City agrees to use land averaging, property taxes levied by the City and other taxing authorities will be calculated using an average of your assessed land value of the current year and prior two years, plus your current assessed property improvement value.
Who gets averaged?
Most residential (class 1), light industrial (class 5) and business properties (class 6) will be eligible for averaging.
Eligibility criteria and other procedural requirements are set out in the Land Assessment Averaging Bylaw, which must be submitted to City Council for adoption before March 31 each year.
Key dates for 2013
- February 27, 2013: Report to Council to consider the continuation of land assessment averaging in 2013
- March 12, 2013: Council adopted the 2013 Land Assessment Averaging Bylaw
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Correction of Errors
If you think that the Land Averaging Bylaw has been misinterpreted or misapplied to your property, you can request a review as per section 403 of the Vancouver Charter.
You will need to complete an Averaging Review Request Form and submit it by email, mail, fax or in person to the Collector of Taxes no later than the last business day of July.
