BC Assessment house, increase, example, recent

B2L2

Home owners, how bad is your 2012 assessment?
Our house (New West) has a +7% and is about 3-5% below market price.

My friend's house at Richmond has a +40% and that brings it over recent market price at his block.
Another crazy example, friend's house at Vancouver West has an increase of $1M just on the land.

However, one friend's apartment at Burnaby has a lower estimation this year.

How about yours?

B2L2

回復 2# lo_pak

Do I sound like I'm complaining?  

B2L2

First, assessment is base on number from last summer.  So it is at least half a year off.

Second, assessment could be fairly off from the market value.  My last apartment's assessment price was ~10% below my selling price which is pretty common.  Plus there was a freeze on assessment value since 2007 (thx to Campbell).  The bigger increase cases are usually from those who had their assessment frozen in the last couple years.