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Cranbrook, BC (January 8, 2025) – 2025 assessment notices from B.C. 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 7%. However, this does not necessarily mean property owners will see a 7% increase in their tax bill. The amount of taxes you pay will be determined by the 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 diagram above assumes that there are no changes in the property tax levy or the distribution of budget funding between property classes. Infographic provided by B.C. Assessment.

According to an annual update from B.C. 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.

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 B.C. Assessment as indicated on their 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.