B.C. Homeowners Can Now Access 2025 Property Assessments
As 2025 begins, homeowners in British Columbia can now check their property assessments for the upcoming year. This update, which became available on January 2, 2025, allows property owners to access their latest property values through BC Assessment's online portal. This move gives residents the opportunity to gauge their home’s value as it stood in July 2024, which is the reference date for the 2025 assessments. This is an important resource for those wanting to understand how their property value might affect their property taxes in the coming year.
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The B.C. Assessment Authority's annual property assessments are crucial for determining the tax amounts homeowners will need to pay in 2025. These assessments, which reflect the value of a property as of July 2024, are now accessible to the public. Homeowners can easily view their assessment by visiting the BC Assessment website and searching by their property address. Alongside individual assessments, the data release also includes information on property trends across different regions, showcasing how the real estate market has changed.
Along with online access, homeowners will also receive their property assessment notices in the mail in the coming weeks. For example, some of the priciest homes in B.C. have seen slight increases in value. Lululemon founder Chip Wilson’s Vancouver mansion, previously valued at over $81 million, saw a modest increase in value to about $82.6 million as of July 2024. Similarly, popular Canadian crooner Michael Bublé's property in Burnaby experienced a 6.2% rise, now valued at nearly $28 million.
This annual update by BC Assessment offers a clear picture of the local real estate market, helping homeowners prepare for the financial year ahead. With property taxes based on these assessments, it is important to stay informed. If you’re curious about the value of your own property, head over to BC Assessment’s website or keep an eye out for your physical notice in the mail. The 2025 figures provide a comprehensive look into the evolving landscape of the B.C. housing market, making this a must-know event for homeowners across the province.
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