The Government of British Columbia is waiving minimum income requirements for existing B.C. farm operations, allowing them to maintain their current property tax farm status for 2021. The one-year waiver of the rule was announced July 29th 2020.
Informs the homeowner the value of the property assessed July 1, of the previous year
A home owner has until Jan 31 of that year to submit an appeal, if they do not agree with the assessed value
The total assessment value of a property will be a combination of assessments of the building(s) and land
There are different classifications based on zoning and use of a property (majority in Maple Ridge is Class 1 - Residential)
The total assessment value of all the properties in Maple Ridge is used to calculate the tax rate for property taxes
Your Property Value Change and Property Taxes Video
An increase in your assessment does not necessarily mean an increase in your property taxes. Property tax changes are impacted by your assessment’s change relative to your community’s average assessment change.
The video below from BC Assessment explains what could happen to your property taxes if your assessment is lower, higher or similar to the average change for your property class.
Farm Status Application
To change your tax rate class to Farm (Class 6 - Farm) certain criteria must be met
A portion of or the whole property may be changed
Applications must be submitted to BC Assessment by a certain date every year
Visit BC Assessment for more information and to submit your application