Regulation BEFORE repealed by BC Reg 262/2022, effective December 1, 2022.
| B.C. Reg. 240/96 Assessment Commissioner | Deposited September 5, 1996 |
Assessment Act
Application by Owner and Occupier of Eligible Residential Property
Form of notice
1 The notice referred to in section 19 (8) of the Act must be made in the attached form.
BC Assessment
| Application by Owner and Occupier of Eligible Residential Property for Assessment to be Based on Residential Use Assessment Act, Section 19 (8) | DEADLINE: Please return this form to your local BC Assessment office by January 31. |
Information about the Owner and Occupier of the property (please print)
PLEASE RETURN TO:
| Name | ||
| Telephone Number | Home: | Office: |
Information about the Property (please print)
| Property Address | ||
| Assessment Roll Number of Property (see assessment notice) | ||
| Number of years you have owned this property | Number of years you have continuously lived on this property | |
| The property is not more than 2.03 ha (5.02 acres) in area, is used only for residential purposes, accommodates three (3) or fewer families and has on it: (check in appropriate square) | ||
 a single family residence | ||
| a two-family residence | ||
| a single family or two-family residence containing housekeeping or sleeping rooms | ||
| a residence containing not more than three self-contained suites | ||
| Other Describe: | ||
| By signing below, I, the owner of this property, |
| 1) am applying for the assessment on this property to be based on residential use, and |
| 2) am stating that I have owned and lived on this property continuously for 10 years and that this property has been my principal place of residence during that entire 10 year period*. |
| * This means that to qualify for assessment relief next year an owner must have owned and occupied their property for at least 10 years ending October 31 of this year. |
| Date ................................................................. Signature ......................................................... |
| This form should be completed by the owner and occupier of the property (as defined in the Assessment Act) and returned to the assessor of the assessment area where the property is located (see above) by January 31 in each year. If the form cannot be delivered by January 31, the final deadline is March 15 (see B.C. Reg. 30/93). |
| The information collected on this form is confidential and will only be released if required by law. It is collected under section 19 (8) of the Assessment Act and will be used to determine whether your property qualifies for assessment relief under that section. | For Office Use Only | ||||
| area | jurisdiction | roll number | |||
| (It is an offence to make a false application) | |||||
| Assessment Relief — Section 19 (8) of the Assessment Act | |
| What Assessment Relief is Provided Under Section 19 (8) of the Assessment Act? This section of the Assessment Act allows residential property to be assessed at a lower value if the owner qualifies and the property has potential for development. Section 19 (8) deals with a residential property's existing use versus its potential use. Over time, property tends to be redeveloped into different uses, particularly residential property that is close to urban areas. Examples of residential property with the potential for development are: • a house located on land that has been rezoned for commercial use (e.g., allowing for a store or office building), or • a house located on a five-acre parcel which could be developed into one-quarter acre lots. Both examples could qualify for assessment relief. Who Qualifies for Assessment Relief? Residential property owners who have been living on property which is less than 2.03 hectares (approximately 5 acres) for more than 10 years, may be eligible for a lower property assessment. To qualify for assessment relief: • the property must be the property owner's principal residence. • the owner must have owned and occupied the property continuously for at least 10 years. In other words, to qualify for assessment relief next year an owner must have owned and occupied their property for at least 10 years ending October 31 of this year. | • the property's market value for another use must be higher than the property's existing residential value. • a completed application form must be submitted each year. • additional qualifying criteria may be required. Who Benefits from Assessment Relief? Property owners living in communities or neighbourhoods where land use is changing would benefit from assessment relief. If eligible, the property owner's property will be valued at its current "existing" use instead of its higher "potential" use. Do All Long Term Property Owners Qualify for Assessment Relief? No. To qualify, the property's demonstrated market value must be higher than its current residential value. For example, a home in a large residential subdivision, surrounded by other residential dwellings, might not qualify for relief under this section of the Assessment Act simply because the current use reflects the most valuable use of the property. How Do Property Owners Apply for Assessment Relief? Owners must apply to their local assessment office each year. Owners are advised to file their applications for assessment relief at their local BC Assessment office by January 31 of each year. This will ensure consideration for the current Assessment Roll. Note: A new application form must be completed each year. How Do I Get More Information on Assessment Relief? Application forms and additional information on assessment relief may be obtained by calling your local BC Assessment office which is listed in the White pages of your telephone book. BC Assessment |
[Provisions of the Assessment Act, R.S.B.C. 1996, c. 20, relevant to the enactment of this regulation: section 19 (8)]