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B.C. home grant threshold falls for first time since 2020, as Vancouver values drop
The homeowner grant threshold dropped 4.6% to $2.075 million due to Lower Mainland property values falling up to 10%, reflecting market conditions as of July 1, 2025.
- The B.C. Ministry of Finance set the B.C. homeowner grant threshold at $2.075 million, down about 4.6 per cent from last year.
- BC Assessment reported about 1.14 million properties in the Lower Mainland fell up to 10 per cent, reflecting valuations as of July 1 last year, and Bryan Murao said `The softening housing market is being reflected in 2026 property assessments`.
- White Rock recorded the sharpest fall, with values down nine per cent to $1.58 million while University Endowment Lands, Richmond and Langley dropped eight per cent; the median home price is $776,400.
- The ministry says owners of properties valued above the threshold may still qualify for a partial grant, while homeowners with a dependent child, above age 55, or with disabilities can access the property tax deferment program.
- Historically, the homeowner grant threshold rose from $1.525-million to $2.175-million last year, while Vancouver Island and the Southern Interior saw valuations swing five per cent, and the North and the Kootenays ranged from 15-per-cent increases to five-per-cent decreases.
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The Record
The RecordBC Assessment: Lower Mainland 2026 Property Assessments Announced
VANCOUVER, 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 1,140,000 properties throughout the Lower Mainland. The updated property values…
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