BC Assessment mails the 2027 assessment notices in early January. For most owners the first thing they look at is the value. For business owners, the property class on the same notice can matter just as much, because each class is taxed at its own rate.
What’s on the notice
Your notice shows the assessed value of the land and improvements, and the class or classes the property has been placed in. A single property can be split across more than one class if it’s used for more than one purpose.
The classes most relevant to businesses are:
- Class 5, Light industry: property used for extracting, processing, manufacturing or transporting products, along with storage tied to those activities.
- Class 6, Business and other: a broad class that covers most commercial property, including offices, retail and many other uses.
Class 5 is often taxed at a lower rate than Class 6, although the difference depends on your municipality.
Three things to check
- Is the class right for how the space is actually used? If you manufacture, process or fabricate on site and the whole property is in Class 6, it’s worth a closer look.
- Is the split right? If part of the building is office or retail and part is industrial, check that the share in each class reflects the real use.
- Has anything changed? A new tenant, a change in operations, or new equipment can all change the right classification.
The deadline
If you disagree with your classification or value, you can file a complaint with the Property Assessment Review Panel. The deadline is January 31, 2027. After that, the classification generally stands for the year.
Panel hearings usually take place in February and March. If you’re not satisfied with the panel’s decision, you can appeal to the Property Assessment Appeal Board, usually by April 30.
Not sure where you stand?
Book a free consultation. Give us the address and a short description of how the property is used, and we’ll tell you whether it’s worth pursuing. We work on contingency, so there’s no fee unless your classification changes and you save.