Property assessments for 2020, performed by BC Assessment, are now available to view online on the e-valueBC system.
Anyone can visit www.bcassessment.ca and input a property address to see the assessed value. Users can also view the value of neighbouring properties, and see what they may have sold for in the past year.
All you need is the property’s street address. For condominiums and other multi-unit properties, users can select from a drop-down list of units at that street address.
The property’s value is based on the market value as of July 1, 2019.
Owners of properties in the Lower Mainland can expect to receive paper notices of assessment in the mail within the next few weeks.
In Metro Vancouver, average values have fallen up to 15 per cent, the first time in decades that values have declined across the board.
Source: CBC News
The overall value of assessments in the Lower Mainland has declined from about $1.48 trillion in 2019 to about $1.41 trillion in 2020.
BC Assessment fast facts
- Total number of 2020 properties in B.C. is 2,091,135, an approximate 1 per cent increase from 2019.
- Total value of all real estate on the 2020 Assessment Roll is $1.94 trillion, a decrease of nearly -2.5 per cent from 2019.
- Total amount of 2020 ‘non-market change’, including new construction and development is approximately $27.1 billion, a decrease of almost -8.63 per cent from the 2019 revised roll of $29.6 billion.
- Approximately 88 per cent of all B.C. properties are classified with some residential
(Class 1) component.
- Highest assessed single residential property for 2020 is valued at $64.9 million, located in Vancouver.
- Over 98 per cent of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.
How property assessments in B.C. work
Every year, residents receive a notice from BC Assessment in January. Properties are assessed to determine their value, classification, and exemptions, if any.
The following characteristics are used to determine property values:
- Property location
- Land surface (topography)
- Age and condition of structure
What if there’s a disagreement about an assessment?
It’s not possible to dispute your property taxes, but you can appeal your assessment.
The first step is to contact BC Assessment at 1-866-825-8322. If a resolution is not reached, an independent appeal process will review the property’s assessed value. If an appeal is initiated, property taxes could decrease (refund may be issued) — or they could increase.
BC Assessment property values and trends
Community | 2019 Average | 2020 Average | % Change
City of Vancouver $ 1,755,000 $ 1,568,000 -11%
University Endowment Lands $ 5,904,000 $ 4,946,000 -16%
City of Burnaby $ 1,512,000 $ 1,363,000 -10%
City of Coquitlam $ 1,254,000 $ 1,121,000 -11%
City of Port Coquitlam $ 969,000 $ 875,000 -10%
City of Port Moody $ 1,342,000 $ 1,192,000 -11%
City of New Westminster $ 1,147,000 $ 1,054,000 -8%
City of North Vancouver $ 1,510,000 $ 1,351,000 -11%
District of North Vancouver $ 1,616,000 $ 1,479,000 -9%
District of West Vancouver $ 2,803,000 $ 2,356,000 -16%
District of Squamish $ 927,000 $ 930,000 0%
Resort Municipality of Whistler $ 1,935,000 $ 2,033,000 +5%
Village of Pemberton $ 829,000 $ 873,000 +5%
Bowen Island Municipality $ 967,000 $ 933,000 -4%
Village of Lions Bay $ 1,493,000 $ 1,384,000 -7%
Village of Belcarra $ 1,461,000 $ 1,318,000 -10%
Village of Anmore $ 2,134,000 $ 1,989,000 -7%
Town of Gibsons $ 675,000 $ 657,000 -3%
District of Sechelt $ 605,000 $ 568,000 -6%
City of Surrey $ 1,042,000 $ 1,010,000 -3%
City of White Rock $ 1,310,000 $ 1,196,000 -9%
City of Richmond $ 1,532,000 $ 1,322,000 -14%
City of Delta $ 1,003,000 $ 917,000 -9%
Township of Langley $ 971,000 $ 922,000 -5%
City of Langley $ 862,000 $ 809,000 -6%
City of Abbotsford $ 758,000 $ 727,000 -4%
City of Chilliwack $ 613,000 $ 590,000 -4%
City of Maple Ridge $ 820,000 $ 768,000 -6%
City of Pitt Meadows $ 871,000 $ 821,000 -6%
District of Mission $ 698,000 $ 652,000 -7%
District of Kent $ 511,000 $ 494,000 -3%
District of Hope $ 416,000 $ 410,000 -1%
Harrison Hot Springs $ 608,000 $ 577,000 -5%
Community | 2019 Average | 2020 Average | % Change
City of Vancouver $ 740,000 $ 686,000 -7%
City of Burnaby $ 623,000 $ 569,000 -9%
City of Coquitlam $ 591,000 $ 537,000 -9%
City of Port Coquitlam $ 533,000 $ 486,000 -9%
City of Port Moody $ 648,000 $ 615,000 -5%
City of New Westminster $ 547,000 $ 500,000 -9%
City of North Vancouver $ 707,000 $ 656,000 -7%
District of North Vancouver $ 758,000 $ 693,000 -9%
District of West Vancouver $ 1,288,000 $ 1,156,000 -10%
District of Squamish $ 584,000 $ 562,000 -4%
Resort Municipality of Whistler $ 957,000 $ 919,000 -4%
City of Surrey $ 522,000 $ 497,000 -5%
City of White Rock $ 478,000 $ 461,000 -4%
City of Richmond $ 654,000 $ 600,000 -8%
City of Delta $ 568,000 $ 545,000 -4%
Township of Langley $ 561,000 $ 531,000 -5%
City of Langley $ 396,000 $ 369,000 -7%
City of Abbotsford $ 356,000 $ 329,000 -7%
Top 10 most valuable residential properties in Greater Vancouver (2020 values)
The top 10 most expensive residential properties in Greater Vancouver are all within the City of Vancouver proper.
1. 3085 Point Grey Rd, Vancouver $64,946,000
Lululemon founder Chip Wilson’s mega mansion on Point Grey Road actually declined in value, falling $8.2 million in one year. That’s a staggering $22,465 per day.
2. 4707 Belmont Ave, Vancouver $58,728,000
The owner of this property is reportedly unknown and quite secretive, but said to be from Ontario.
3. 4719 Belmont Ave, Vancouver $36,042,000
Owner unknown, yet another mega mansion on Vancouver’s “Billionaires’ Row.”
4. 2815 Point Grey Rd, Vancouver $32,588,000
5. 4773 Belmont Ave, Vancouver $31,720,000
6. 17146 20 Ave, Surrey $31,524,000
7. 4857 Belmont Ave, Vancouver $30,208,000
8. 35220 Cassiar Ave, Abbotsford $30,022,000
9. 3489 Osler St, Vancouver $29,562,000
10. 2999 Point Grey Rd, Vancouver $29,479,000
Property value of White Spot site doubles
Several high-profile properties in the news recently have seen major jumps in their assessed value, including the White Spot on West Georgia Street, which recently sold to a Hong Kong-based developer for $245 million.
BC Assessment values the property at $104 million, up from $52 million in 2016.
The previous owners of the property — Shato Holdings (proprietors of White Spot) — had floated a plan for two residential condo towers on the site. The new owners will almost certainly revised the proposal, especially considering the price paid for the property. The buildings will likely be taller, and contain larger, more expensive units.
Value of ‘mystery lot’ jumps considerably
Meanwhile, a few blocks away, the value of the city’s most infamous vacant lot has also increased — up $28 million in the past year alone. The property, at the corner of Robson Street and Broughton Street, has been vacant since the 1970s, despite being prime real estate with the potential for high-density development.
A CBC News story in 2015 tracked the ownership of the lot to a Hong Kong-based company called Melford Estates Limited, which was registered in B.C. in 1973. However, the company’s directors refused to comment.
Just across the lane from the vacant lot, a New York-based architect has designed two upcoming residential towers for developers Landa Global and Asia Standard Americas. The vacant lot is shown in the rendering below.
Value of future parkland remains stable
Meanwhile, the property value of Concord Pacific’s presentation centre and parking lot – slated to become a new park, has remained stable at $10,001. In 2015, the BC Supreme Court upheld Concord Pacific’s legal right to maintain a presentation centre on the future parkland. Residents in the area say they have been waiting for 30 years for the promised park to materialize.
BC Assessment is a provincial crown corporation, with the mandate of establishing and maintaining uniform property assessments.
Video: How BC Assessment assesses property value
The video explains factors BC Assessment uses to create property assessments in B.C.
Video: How your property value affects property taxes
The video outlines how your property value, as calculated by BC Assessment, impacts your property taxes.