BC Assessments 2026 — What Lower Mainland Homeowners Need to Know

Each year, British Columbia property owners receive an assessment notice that plays a key role in how property taxes are calculated. Understanding when BC Assessments are released, what they are based on, and how they differ from true market value is especially important for homeowners and investors in the Lower Mainland.

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📅 When the 2026 BC Assessment Notices Will Be Released

2026 BC Assessment notices will be issued in January 2026.As with previous years, most property owners will receive their notice in the first week of January, with online access available shortly thereafter through the BC Assessment website.

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📊 What BC Assessment Is — and Its Purpose

BC Assessment is a provincial Crown corporation responsible for independently assessing the value of every property in British Columbia on an annual basis.These assessed values are not used to determine selling prices. Instead, they provide a fair and consistent foundation for local governments and school authorities to calculate property taxes across the province.

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🔍 What the 2026 Assessment Is Based On

BC Assessments rely on two key dates:

1. Valuation Date — July 1, 2025

This is the most important date. The assessed value reflects market conditions as of July 1, 2025, based on comparable sales and market data available at that time.

2. Physical Condition Date — October 31, 2025

This date captures the property’s physical state, including renovations, additions, new construction, or changes in use that occurred up to October 31, 2025.BC Assessment also considers:

• Location and neighbourhood trends
• Lot size and home size
• Age and construction quality
• Permitted improvements
• Comparable property sales

Most properties are assessed using mass appraisal models, not individual site visits, which means some features or upgrades may not be fully reflected.

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🏡 Market Value vs. Assessed Value — Understanding the Difference

This is where confusion often arises.

Assessed Value

• Based on market data as of July 1, 2025
• Used strictly for taxation purposes
• Calculated using standardized models for consistency

Because assessed values are tied to a fixed date, they can lag behind current market conditions, especially in changing markets like the Lower Mainland.

Market Value

• Reflects what a buyer would realistically pay today
• Influenced by current demand, interest rates, inventory, condition, and presentation
• Determined through recent comparable sales and buyer behaviour

Market value is what truly matters when selling, buying, or refinancing a property.

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💡 Why This Matters to Lower Mainland Homeowners

Knowing the difference between assessed value and market value helps you:

• Understand potential property tax changes
• Avoid overpricing or underpricing when selling
• Make informed renovation decisions
• Identify whether your assessment is reasonable compared to similar homes

If you believe your 2026 assessment does not fairly reflect your property, BC Assessment provides a formal appeal process, with a typical deadline of January 31, 2026.

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📌 Bottom Line

• 2026 BC Assessment notices arrive in January 2026
• Values are based on market conditions as of July 1, 2025
• Assessed value is for tax purposes, not real-time market pricing
• A professional market evaluation gives the most accurate picture of today’s value in the Lower Mainland

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If you would like a FREE, up-to-date market evaluation based on current Lower Mainland conditions — not last year’s data — I would be happy to help.Contact Robert Tremblay, REALTOR®
Trusted advice. Accurate pricing. Local expertise.