The average values of housing in 91Ô­´´ Township and City hardly moved at all in the latest annual survey by BC Assessment.

The values of single-family homes were essentially flat, while multi-family homes, including condos and townhouses, moved only slightly.

The annual assessment showed that 91Ô­´´ Township single-family home values were $1,449,000, up a grand total of $3,000 from $1,446,000 the previous year.

91Ô­´´ City's single-family home assessments moved by $2,000, reaching $1,310,000 from $1,308,000 the year before.

For multi-family homes, in 91Ô­´´ Township values actually fell slightly, declining two per cent from $776,000 to $764,000.

In 91Ô­´´ City, multi-family homes went up just $1,000, from $546,000 to $547,000.

"Across the Lower Mainland and throughout B.C., the overall housing market has generally stabilized in value for a second consecutive year," says BC Assessment Assessor Bryan Murao.

The 2025 property assessments reflect market values as of July 1, 2024. 

The flat property values are unusual compared to recent years, which have seen some wild swings and sharp increases.

For example, the 2023 assessment, which captured the hot property market that began during the 2020 COVID lockdowns and continued into mid-2022, saw single-family homes in 91Ô­´´ Township jump in value by 15 per cent, and in 91Ô­´´ City by eight per cent.

BC Assessment has sent out updated property values to 1,120,000 landowners in the Lower Mainland, but noted on its website that the notices may be delayed because of the recent Canada Post strike.

Residents can see their most recent assessment by visiting bcassessment.ca and entering their property address.

People wishing to appeal their property assessment can contact BC Assessment, . The deadline to file is Jan. 31.

Property assessments can affect property taxes, but only if your property diverged from the average for its type.

"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," said Murao. "As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes." 

In other words, if other properties of the same type rise in value by two per cent, and your home goes up in value by two per cent, your taxes won't change – except for any increase in taxes approved by municipal politicians.

However, if your property went up in value by five per cent while the same type of home's average value was flat, you could see a bigger than normal property tax increase. Those homeowners who saw their property values decline relative to their neighbours' would see a slight dip in their taxes.