The owner of a home in one of Langley’s most expensive neighbourhoods had his property assessment reduced by $375,000, in a recent ruling.
The Property Assessment Appeal Board of B.C. ruled largely in favour of the owner of a home in High Point Equestrian Estates, near 200 Street and 3 Avenue.
The property had been assessed at $6,468,000 in value for 2025, which was split between a land value of $2,796,000 and value of the buildings and improvements of $3,672,000.
The owner appealed that assessment, arguing that the home should be valued at $5,825,000 in total. BC Assessment, meanwhile, argued that the current value of the property was actually higher than when it was last assessed, and is now $6.6 million.
Assessed values for all properties in B.C. are determined annually by BC Assessment. The agency uses other sales of similar properties in the area to determine the value of individual homes, vacant land, townhouses, condos, and other properties.
The assessed values are then used by local governments to determine property taxes. If the assessed value of a home rises faster than average for its type of housing, this can result in a higher tax bill, while a decline in assessed value – if the average home prices in the area are increasing or flat – can mean a lower tax bill.
The homeowner and BC Assessment each submitted three other homes that had sold in the area to support their comparison values. Two of the three homes on each list were the same – a pair of smaller homes in High Point that had sold in recent years.
But the Appeal Board rejected one of BC Assessment’s choices, because it was a rural property in Surrey.
“There is no supporting data to suggest a larger, ALR encumbered site in Hazelmere can be compared to a site in High Point Estates,” the Appeal Board ruling said. “The extensive equestrian facilities make High Point so unique, I find that it is difficult to compare sales from other neighbourhoods.”
The Appeal Board also rejected one of the methods the homeowner suggested to determine the value of his house, settling on comparing the value, per square foot, of other nearby homes.
The decision was based ultimately on comparing square footage of the comparable nearby houses, which resulted in a total value for the property of $6,093,000, which was $375,000 below the original assessment and more than half a million dollars below BC Assessment’s suggested total value.