What assessment value will be used for the equity calculation?
We use the current year assessment value determined by BC Assessment, and do not use other third party real estate appraisals. For the 2009 taxation year only, special valuation rules were used to determine the 2009 assessment value for property taxation purposes. Residential properties were valued using the actual value calculated using a July 1, 2007 valuation date or July 1, 2008 valuation date, whichever was lower. For tax deferment equity purposes, we will use the 2009 assessment value, which is based on a July 1, 2008 valuation date.
