BC Assessment Property Value Accuracy

Whereas assessing and appraising real estate is primarily an information business and the Assessment Act requires BC Assessment to value similar properties consistently and equitably recognizing that similar unsold properties are consistently under-assessed, sometimes for consecutive years; And whereas the Assessment Act has no meaningful consequences for withholding information vital to BC Assessment to obtain critical information necessary to properly assess properties and this results in taxation rates based on flawed assessmentvaluation data: Therefore be it resolved that UBCM ask the Province of BC to update the Assessment Act to significantly reduce the number of drastically under-assessed properties year over year.