BC Assessment has released its annual updated property assessments, which reflect market value as of July 1, 2025. The typical assessed values of single-family homes from the West Coast to North Island increased between 1 to 3 % in Tofino, Courtenay, Powell River, Gold River, Tasis, and Port Hardy.
Several communities remained the same or declined by 1 to 2 percent, including Qualicum Beach, Cumberland, Campbell River, Port Alice, and Sayward. The largest increases were in Comox, Ucluelet and Zebellos with 5%, and Alert Bay by 7%. For Strata Homes, Courtenay remained the same and Campbell River decreased by -2%.
Overall, the assessment value of about 400,000 properties on Vancouver Island increased from almost $391 billion in 2025 to almost $399 billion for 2026. About $4.71 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties.
Any property owner concerned about their assessment, should contact BC Assessment as soon as possible in January. Notices of Complaint to appeal an assessment must be submitted by February 2 for an independent review by a Property Assessment Review Panel.
Source: https://info.bcassessment.ca/property-information-trends/vancouver-island
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