Applies to: British Columbia (Vancouver, Fraser Valley, Lower Mainland)
Last updated: 2025-12-14
If you’ve looked at your BC Assessment notice and thought, “That’s not what my home would sell for,” you’re not alone. This comes up every year across Surrey, Langley, Delta, White Rock, Abbotsford, and Vancouver.
The key is that assessed value and market value are built for different jobs. At Mansour Real Estate Group, we help homeowners separate what the assessment number is meant to do (tax fairness) from what a buyer might pay today (market reality), so you don’t make a pricing, refinance, or appeal decision on the wrong reference point.
BC Assessment estimates the market value of most properties based on a common valuation date. That date is typically July 1 of the previous year, even though notices arrive later. When the market moves after that date, the assessment number won’t match what homes are selling for right now.
This is why you can see a gap in either direction. In a rising market, today’s sale price may be higher than the assessment. In a softer market, the assessment can look high compared to current buyer demand.
If you want the tax question next, read: Will my property taxes go up if my assessment goes up?
BC Assessment has to value close to two million properties across the province. That means the process relies on consistent data, property characteristics, and sales evidence at scale. It’s not the same thing as a custom valuation for one home where someone weighs your exact renovation quality, layout feel, view, noise exposure, or curb appeal the way buyers do.
If you’re curious how the value is actually built, read: How does BC Assessment determine the value of my home?
If you’re heading toward an appeal, start here: How do I appeal my assessment if I disagree with it? Then check deadlines here: What are the deadlines to appeal my BC Assessment value?
Is BC Assessment supposed to match what my home would sell for today?
No. It estimates market value as of the valuation date, not today’s price.
What date is my assessed value based on in BC?
For most properties, it’s based on market value as of July 1 of the previous year.
Why can a bank appraisal differ from my assessment notice?
A private appraisal can be done at any time and may weigh features and condition differently than the assessment system.
Does a big gap mean I should appeal?
Not always. The strongest appeal cases usually show your assessment is inconsistent with similar properties as of the valuation date.
When someone reaches out with an assessment question, we usually start by clarifying the goal. Is this about taxes, selling, refinancing, or an appeal? Then we compare your property to relevant evidence for the right time period and explain what would actually change the outcome. The aim is simple, fewer assumptions, clearer next steps, and less risk of chasing the wrong solution.
Your BC Assessment value can differ from your home’s market value because it’s anchored to a common valuation date and calculated using a standardized system meant to keep taxation consistent across the province. Market value is what buyers will pay today, and that can swing based on timing, demand, and property-specific features that don’t always show up cleanly in assessment data.
The Mansour Real Estate Group, led by Mohamed Mansour, MBA and Associate Broker, serves Vancouver, the Fraser Valley, and the Lower Mainland. With 21+ years and $750M+ in completed sales, we focus on valuation-driven advice, timing, risk, equity protection, and clear decision support across Surrey, Langley, Delta, White Rock, Abbotsford, and Vancouver.
Address 15595 24 Avenue, Surrey, BC, V4P 1H5
