Property Taxes

How Property Assessment Changes Impact Your Municipal Taxes

The 2024 assessed value for residential properties in Coquitlam went up by approximately 2.7% on average.  

How the value of your property changes in comparison to the average for other residential properties in Coquitlam impacts the amount of tax you will pay on your property. If your assessed value increased by more than the 2.7% average you will likely have a higher than 8.92% increase in your municipal property taxes. If your assessed value increased less than the 2.7% average, will likely have a lower than 8.92% increase in your municipal property taxes.

Property Value Assessment

The British Columbia Assessment Authority (BCAA) is an independent organization that determines the value of all properties in British Columbia. When establishing the market value of a property, BCAA considers many factors including size, layout, age, condition, location, neighbourhood and the value of recent sales of similar properties. All owners receive a Property Assessment Notice by December 31 each year.

What to Do with Your Assessment

It is important to check all details on the Property Assessment Notice. If you have questions about your property assessment, please call BCAA to speak with an appraiser. If you still disagree with your assessment after talking with an appraiser, you can file a formal Notice of Complaint (Appeal).

Deadline to File

The deadline to file a Notice of Complaint (Appeal) is January 31. Send your Notice to:
BCAA, North Fraser Region
BC Assessment Greater Vancouver Office
Suite 200 - 2925 Virtual Way
Vancouver BC V5M 4X5

Phone: 1-866-825-8322
BCAA Website

Why Assessed Value is Important to You

The assessed value of your property as determined by the BCAA is used to calculate how much property tax you will pay. With the BCAA Notice of Complaint (Appeal) deadline being January 31, once you have received your Tax Bill in May, it will be too late to make any changes to the assessed value of your property.

City Council determines the budget it needs to provide services to residents and businesses. Each year in May, a Municipal Property Tax Rate is set to collect the necessary taxes to pay for the many important services provided.

Calculate Tax Levy for Your Property

Rates are per $1,000. Multiply the taxable value (found on your property assessment notice) by the municipal tax rate for the applicable assessment class(es).

2024 Municipal Tax Rates

Section 224 of the Community Charter provides Council with the authority to grant Permissive Tax Exemptions for certain land and/or improvements from municipal property taxes. Council will consider requests for Permissive Tax Exemptions for certain categories of land or improvements, such as those owned and used by non-profit organizations, which provide public benefit to the residents of Coquitlam subject to the conditions of our Permissive Property Tax Exemption Policy.

For further information on the policy, please contact the Revenue Services Department at 604-927-3920.

The Province of BC offers a loan program designed to help qualified BC homeowners pay their annual property taxes on their principal residence. There are two tax deferment programs available:

• Families with children
• People aged 55 and older, surviving spouses, and people with disabilities

Information and eligibility qualifications for these programs is available on British Columbia’s Property Tax Deferment page.

Each year, if required, the City of Coquitlam holds a municipal Tax Sale on the last Monday of September in Council Chamber at 3000 Guildford Way. If the last Monday in September is a statutory holiday, the annual sale will be held on the next Monday that is not a holiday. Properties with an outstanding balance of three years of unpaid taxes are included in the Tax Sale auction.

There are no longer any delinquent properties in 2024. The next Tax Sale will be September 29, 2025 at 10 a.m.

The Local Government Act requires the City to sell all properties where taxes have not been paid for three years through a Tax Sale. The Act also requires the City to publish a list of properties that may be available for sale in the week before the Tax Sale. This Notice of Tax Sale must include the civic address and legal description of any properties up for sale.

How to Avoid Tax Sale Listing

• If your property has three years of taxes owing, contact us immediately by email or call 604-927-3050. 
• To avoid having your property in the listing that will be electronically distributed through the City’s email subscription service and posted on coquitlam.ca/PublicNotices, payment of your outstanding balance must be received by cash, Certified Cheque, or debit by August 30, 2024. 
• To avoid your property being sold at Tax Sale, the amount owing, including interest, must be paid by cash, Certified Cheque or debit prior to the auction.

Auction Process

• The Local Government Act requires that the Tax Sale auction for each municipality begins at 10 a.m. on Monday, October 7, 2024 in the Council Chambers.
• If your outstanding balance is paid before 10 a.m. on the day of the Tax Sale auction, the property will be removed from the sale.
• If a property on the Notice of Tax Sale is not offered for sale, it is because the taxes owing have been paid prior to the auction.
• The City makes no representation, express or implied, as to the condition or quality of the properties being offered for sale. Prospective purchasers are urged to research the properties and make all necessary inquiries to municipal and other government departments, and in the case of strata lots to the strata corporation, to determine the existence of any bylaws, restrictions, charges or other conditions which may affect the value or suitability of the properties. The minimum bid is the amount of the upset price.
• If no bidding takes place within three calls by the Collector (auctioneer), the City is declared the purchaser at the upset price.
• The successful bidder is required to have their photo ID and Social Insurance Number.
• Acceptable forms of payment are: Certified Cheque and Bank Draft, and the purchase price must be paid no later than one hour after the completion of the sale.
• Purchasers of the properties at Tax Sale are subject to tax under the Property Purchase Tax Act. This tax will be calculated on the market value of the property at the time title is transferred to the purchaser.
• The City of Coquitlam will appoint a person to bid at Tax Sale for the municipality.

For complete information, prospective purchasers should consult the Local Government Act (Division 7 of Part 16).

Redeeming the Property

After a property is sold in a Tax Sale, the current owner has one year to pay all the outstanding taxes, interest, and fees to keep ownership. This one-year window is called the redemption period.

Anyone who holds a legal interest in the property (a "charge holder") also has the right to redeem it. To do this, they must pay the full price of the sale plus interest (set by the Province) within one year.

If the property is redeemed, the buyer from the Tax Sale will get their money back, along with interest up to the redemption date.

Property Not Redeemed

If the property is not redeemed during the one-year period, the Collector registers the new owner at the Land Title Office.