Assessment notices for 2025 from BC Assessment are expected to begin arriving in mailboxes across the province in the coming weeks, including in the City of Cranbrook.

The reassessment of single-family residential properties in Cranbrook, reflecting their market value as of July 1, 2024, resulted in an average increase of seven per cent. However, this does not necessarily mean property owners will see a seven per cent increase in their tax bill, the City of Cranbrook noted today (Jan. 8).

The amount of taxes you pay are determined by city council.

Your assessment will decide whether you pay the amount set by council, or more-or-less, depending on how your property’s value compares to others in the community, the city said in a media release.

According to an annual update from BC Assessment, the typical assessed value of a single-family home in Cranbrook is now $503,000 as of July 1, 2024, an increase from $468,000 last year.

BC Assessment’s website at www.bcassessment.ca includes more details about 2024 assessments, property information and trends.

The city directs those who feel that their property assessment does not reflect market value as of July 1, 2024, or see incorrect information on their notice, should contact BC Assessment as indicated on its notice as soon as possible in January.

If you are still concerned after speaking with an appraiser, you may submit a Notice of Complaint (Appeal) by Friday, January 31, 2025 for an independent review by a Property Assessment Review Panel (PARP).

Property owners can contact BC Assessment toll-free at 1-866-825-8322 or online at www.bcassessment.ca .

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