Understanding Your 2026 BC Property Assessment Notice
Every January, homeowners across British Columbia receive their BC Assessment notices. For many, this document causes confusion. Does a high assessment mean your taxes are skyrocketing? Does a low assessment mean your home has lost value? Here is everything you need to know for 2026.
Assessed Value vs. Market Value
Crucial Distinction: Your assessed value is a retrospective snapshot based on market conditions as of July 1st of the previous year. It is NOT a real-time appraisal of what your home would sell for today.
- Market Value: The price a willing buyer pays a willing seller today.
- Assessed Value: Used solely for calculating property taxes.
Will My Taxes Go Up?
Not necessarily. Property taxes are based on how your property's value changed relative to the average in your municipality.
- If your value rose higher than the average: Your taxes likely go up.
- If your value rose average amount: Your taxes stay roughly the same (plus inflation).
- If your value rose less than average: Your taxes might actually go down.
How to Appeal
If you believe your assessment is incorrect (e.g., they list you as having a finished basement when you don't), you can file a Notice of Complaint/Appeal by January 31st. Evidence like recent sales of comparable homes is required.
Frequently Asked Questions
Everything you need to know about this topic. Can't find the answer you're looking for? Reach out to our team.
Property taxes are typically due on the first business day of July each year.
Yes, if you are 55+, a surviving spouse, or a person with disabilities, you may qualify for the BC Property Tax Deferment program.
Yes, significant renovations that require permits will likely increase your assessed value in the following year.