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BC Property Assessments Have Been Released for 2025 and Amendments Made to the Home Owner Grant Threshold.

Updated: 3 days ago



BC Assessment is a provincial Crown corporation responsible for providing independent property assessments for all real estate in British Columbia. Its primary functions include:


  • Determining the assessed value of properties as of July 1 each year.

  • Assigning property classifications, such as residential, commercial, or agricultural.

  • Collecting and analyzing data on market trends and property characteristics.


What Assessments Are Used For:


Property assessments are used to help allocate property taxes between property owners. Municipalities and other taxing authorities, such as school districts and regional districts, use the assessed values to determine the amount of property taxes that are owed by each owners.


Changes in property assessments do not automatically result in a corresponding change to property taxes, it also depends on how a property’s assessment has moved in relation to the average change in that property’s location.


Assessed values do not dictate the actual market value of a property but reflects its estimated value as of July 1 of the previous year.


Summary of Changes in 2025:


  1. Stable Property Assessments:


    • Property assessments in 2025 have remained relatively stable, with most homeowners seeing changes between -5% and +5%. This reflects a stabilized housing market across the province. "Across the Lower Mainland and throughout B.C., the overall housing market has generally stabilized in value for a second consecutive year," says BC Assessment Assessor Bryan Murao. "Most homeowners can expect only modest assessment changes in the range of -5% to +5%."


  2. Homeowner Grant Threshold Adjustment:


    • The home owner grant reduces the amount of property taxes you pay each year on your principal residence.

    • The homeowner grant threshold has been increased by $25,000 to $2,175,000, ensuring 92% of homeowners remain eligible for the grant.

    • The grant amount is reduced for properties assessed above the threshold and is eliminated for properties assessed at $2,289,000 or higher.

    • For more information on the Home Owner Grant, see here.


Where can I find the assessment for my property, and further trends and market information related to assessments?


bcassessment.ca by using BC Assessment's Find your property assessment online service.  Or try their interactive map.





This article is for general informational purposes only and does not constitute financial, legal, real estate, or investment, or any other type of advice. The content provided is general in nature and should not be relied upon as a substitute for consulting with qualified professionals. Any reliance you place on such information is strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from the use of information in this article

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