The British Columbia Assessment Authority has officially launched its updated online database, allowing homeowners across the province to discover the latest government-assessed value of their properties. The new figures reflect market values as of July 1, 2025, and will form the basis for calculating property taxes in the coming year.
How to Check Your Property's Value
To find out your home's new assessed value, residents can visit the official bcassessment.ca website and perform a search using their property address. The full provincial roll, detailing value changes across all regions, will be publicly released on January 2, 2026.
Metro Vancouver's Market Trend and Celebrity Estates
The updated data arrives amid a broader cooling trend in the Metro Vancouver real estate market. According to the Greater Vancouver Realtors, residential property values in the region have officially decreased by an average of four per cent over the past year.
This downward shift has affected properties at all levels, including some of the province's most high-profile homes. The Kitsilano estate belonging to Lululemon Athletica founder Chip Wilson is now assessed at $73,457,000. This marks a significant 11 per cent decline from its 2024 assessment of $82,664,000.
In contrast, the Burnaby residence of celebrated Canadian singer Michael Bublé saw a slight uptick in its assessed value. The property at 7868 Government Rd. is now valued at $28,025,000, a marginal increase from its 2024 assessment of $27,959,000.
What This Means for Homeowners
These assessments are a critical component of the municipal taxation process. While a change in assessed value does not directly translate to an equivalent change in property taxes, it influences how the tax burden is distributed among property owners within a municipality. Homeowners are encouraged to review their assessment notice carefully. If they believe their assessment does not accurately reflect the property's market value as of July 1, 2025, they have the right to file an appeal with the independent Property Assessment Review Panel.
The publication of these figures provides a standardized snapshot of the province's housing market and offers valuable insight for homeowners, potential buyers, and market analysts alike as they navigate the evolving real estate landscape in British Columbia.
