VICTORIA, British Columbia, Jan. 02, 2026 (GLOBE NEWSWIRE) — The 2026 property assessments, which reflect market value as of July 1, 2025, have been announced for property owners of about 400,000 properties throughout Vancouver Island. The updated property values are now available at bcassessment.ca in addition to 2026 Property Assessment Notices being mailed to each property owner.
“The Vancouver Island housing market has been generally quite stable, which is reflected in the 2026 property assessments,” says BC Assessment Deputy Assessor Matthew Butterfield. ”Most homeowners can expect minimal assessment value changes in the range of -5% to +5%.”
As B.C.’s provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year. The newly released 2026 property assessment details can be searched and accessed any time at bcassessment.ca by using BC Assessment’s Assessment Search online service.
Overall, Vancouver Island’s total assessments increased from almost $391 billion in 2025 to almost $399 billion this year. About $4.71 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties.
The Vancouver Island region includes all communities located within Greater Victoria, South Island, Central Island, North Island, the West Coast, Northern and Southern Gulf Islands and Powell River.
The summaries below provide estimates of typical 2025 versus 2026 assessed values of properties throughout the region.
These examples demonstrate market trends for single-family residential properties by geographic area:*
| Single Family Homes Changes by Community |
2025 Typical Assessed Value as of July 1, 2024 |
2026 Typical Assessed Value as of July 1, 2025 |
% Change |
||
| Greater Victoria | |||||
| City of Victoria | $1,113,000 | $1,128,000 | +1% | ||
| District of Saanich | $1,157,000 | $1,164,000 | +1% | ||
| Township of Esquimalt | $1,015,000 | $1,014,000 | 0% | ||
| District of Oak Bay | $1,630,000 | $1,647,000 | +1% | ||
| Town of View Royal | $1,095,000 | $1,089,000 | -1% | ||
| City of Colwood | $996,000 | $982,000 | -1% | ||
| City of Langford | $947,000 | $951,000 | 0% | ||
| District of Metchosin | $1,243,000 | $1,221,000 | -2% | ||
| District of Highlands | $1,263,000 | $1,231,000 | -3% | ||
| District of Sooke | $797,000 | $786,000 | -1% | ||
| District of Central Saanich | $1,082,000 | $1,091,000 | +1% | ||
| District of North Saanich | $1,346,000 | $1,366,000 | +1% | ||
| Town of Sidney | $938,000 | $953,000 | +2% | ||
| Gulf Islands | $856,000 | $867,000 | +1% | ||
| Central Island | |||||
| Town of Ladysmith | $710,000 | $723,000 | +2% | ||
| Town of Lake Cowichan | $589,000 | $606,000 | +3% | ||
| City of Duncan | $568,000 | $592,000 | +4% | ||
| District of North Cowichan | $727,000 | $733,000 | +1% | ||
| District of Lantzville | $942,000 | $944,000 | 0% | ||
| City of Nanaimo | $760,000 | $769,000 | +1% | ||
| Town of Qualicum Beach | $920,000 | $904,000 | -2% | ||
| City of Parksville | $750,000 | $774,000 | +3% | ||
| District of Tofino | $1,511,000 | $1,496,000 | -1% | ||
| District of Ucluelet | $746,000 | $784,000 | +5% | ||
| City of Port Alberni | $500,000 | $485,000 | -3% | ||
| North Island | |||||
| City of Courtenay | $731,000 | $752,000 | +3% | ||
| Town of Comox | $830,000 | $838,000 | +1% | ||
| Village of Cumberland | $804,000 | $808,000 | 0% | ||
| City of Campbell River | $678,000 | $680,000 | 0% | ||
| District of Port Hardy | $360,000 | $370,000 | +3% | ||
| Village of Port Alice | $334,000 | $335,000 | 0% | ||
| Town of Port McNeill | $442,000 | $434,000 | -2% | ||
| Village of Gold River | $329,000 | $333,000 | +1% | ||
| Village of Tahsis | $201,000 | $204,000 | +2% | ||
| Village of Alert Bay | $300,000 | $320,000 | +7% | ||
| Village of Sayward | $370,000 | $370,000 | 0% | ||
| Village of Zeballos | $153,000 | $161,000 | +5% | ||
| Powell River | |||||
| Powell River Rural Areas | $490,000 | $489,000 | 0% | ||
| City of Powell River | $575,000 | $580,000 | +1% | ||
*All data calculated based on median values.
These examples demonstrate market trends for strata residential properties (e.g. condos/townhouses) by geographic urban area for select urban communities:*
| Strata Homes (Condos/Townhouses) Changes by Community |
2025 Typical Assessed Value as of July 1, 2024 |
2026 Typical Assessed Value as of July 1, 2025 |
% Change |
||
| Various Urban Areas | |||||
| City of Victoria | $561,000 | $551,000 | -2% | ||
| District of Saanich | $597,000 | $597,000 | 0% | ||
| Township of Esquimalt | $562,000 | $559,000 | -1% | ||
| District of Oak Bay | $815,000 | $823,000 | +1% | ||
| City of Langford | $562,000 | $556,000 | -1% | ||
| Town of View Royal | $634,000 | $649,000 | +2% | ||
| City of Colwood | $640,000 | $637,000 | 0% | ||
| District of Central Saanich | $661,000 | $677,000 | +2% | ||
| Town of Sidney | $631,000 | $650,000 | +3% | ||
| City of Nanaimo | $443,000 | $451,000 | +2% | ||
| City of Courtenay | $450,000 | $448,000 | 0% | ||
| City of Campbell River | $419,000 | $412,000 | -2% | ||
*All data calculated based on median values.
BC Assessment’s website at bcassessment.ca includes more details about 2026 assessments, property information and trends such as lists of 2026’s top valued residential properties across the province and an interactive map.
The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2026 property assessments for anywhere in the province. Property owners can also download a digital copy of their 2026 property assessment.
“Property owners can find valuable information on our website including answers to many assessment-related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2025 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Butterfield.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by February 2, for an independent review by a Property Assessment Review Panel,” adds Butterfield.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet from early February to mid-March to hear formal complaints.
“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” explains Butterfield. “As indicated on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”
Have questions?
Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcassessment.ca. During the month of January, hours of operation are 8:30 a.m. to 5:00 p.m., Monday to Friday.
Two PDF Attachments:
Please see attached British Columbia’s 2026 Top 500 Valued Homes list and Vancouver Island’s Top 100 Valued Homes list at:
http://ml.globenewswire.com/Resource/Download/67ae2c3c-85a8-448d-9fcc-df6e3ee5cd84
http://ml.globenewswire.com/Resource/Download/b8c24e5a-5053-4fee-80c1-0500b707c326
Media contacts:
Matthew Butterfield
Deputy Assessor, BC Assessment
Vancouver Island
Tel. 1.866.825.8322 Ext. 01432 / Cell 250-213-6138
Email: [email protected]
Maurice Primeau
Deputy Assessor, BC Assessment
Vancouver Island (North and Central Island Areas)
Tel. 1.866.825.8322 Ext. 04260 / Cell 250-713-3195
Email: [email protected]
An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/723be517-1f82-4cf9-8584-a4f10a154751
