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Are BC Assessments Accurate?

Are BC Assessments Accurate? A Look at 2025 Sales Trends


Two weeks ago, BC Assessments released their annual property valuations. Now that we’ve had a couple of weeks of sales data for 2025, we’re going deeper into the current trends in home values and how sale prices are stacking up against the assessed values.


One of the challenges with BC Assessments is that the numbers are already six months old by the time they’re released. On January 2nd, BC Assessments provided a snapshot of property values, giving us an overview of the market trends from the past year.


But how accurate are these assessed values compared to what homes are actually selling for in 2025? Based on the first two weeks of sales data, we’ve observed some surprising trends. Despite the variation in sale-to-assessment ratios for individual properties, on average, the assessed values were relatively accurate, with the average sale price being 1.002 times the assessed value.


However, there was a significant range:

  • Highest Sale Price: 1.354 times the assessed value.

  • Lowest Sale Price: 0.82 times the assessed value.

These numbers show that not every situation is created equal, and that there is a need to consider how your assessed value applies to market value and if it is worth an appeal to get lower taxes. While some homes are selling well above their assessed value, others are going for much less. Factors like property type, condition, location, and market demand all play a role in how accurately the assessment reflects a home’s true market value.


At a high level “For 2025, most homeowners can expect generally flat property assessment value changes in the -5% to +5% range for many Thompson Okanagan communities, while homeowners in Kootenay Columbia areas may see a higher rate of change in the 0% to +10% range," says Deputy Assessor Boris Warkentin.


Despite these relatively flat assessment changes, the Southern Interior's total assessments increased from approximately $315 billion in 2024 to nearly $323 billion this year. Notably, about $5.29 billion of this increase comes from new construction, subdivisions, and property rezoning.


Looking closer at the Central Okanagan, certain property types appear more volatile than others:


2025 compared to 2024:

  • Single-Family Homes:

    • Kelowna: Decreased by -1%, with a typical assessed value of $938,000.

    • West Kelowna: Decreased by -1%, with a typical assessed value of $904,000.

    • Lake Country: Dropped by -3%, bringing the average assessed value to $930,000.

    • Peachland: No change, with the typical assessed value remaining at $887,000.

  • Strata Properties:

    • City of Kelowna: Decreased by -4%, with a typical assessed value of $493,000.

    • West Kelowna: Increased by +3%, with a typical assessed value of $538,000.

These shifts highlight how market dynamics can vary not just by region, but by property type.


Act Now: Appeal Deadlines Approaching

If you believe your BC Assessment doesn’t accurately reflect your property’s value, you may want to appeal it. The deadline to appeal is January 31st, so it’s important to act quickly.

I’ve created a 9-Step Guide to Understanding Your Property Assessments and How to Appeal Them to help you navigate the process.


Let us know if there is anything we can do for you! Have a great week.


Mark and Maddie Coons

Selling Kelowna Real Estate Group

eXp Realty

778-744-0872

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