Image: 2025 Property Assessments have been released across the Fraser Valley. / File / Modfos - Dreamstime

By Fraser Valley Today Staff

Property Assessments

Chilliwack property values rise marginally – Abbotsford assessments flat

Jan 2, 2025 | 1:20 PM

CHILLIWACK — Fraser Valley property owners can now access their 2025 property assessments, reflecting market values as of July 1, 2024. BC Assessment has mailed updated notices to over 1.12 million property owners across the province. Assessments are also available online at bcassessment.ca.

The assessments reveal slight changes in residential property values across the region. In Chilliwack, the typical assessed value rose 2%, increasing from $890,000 in 2024 to $907,000 in 2025. In Abbotsford, values remained steady at $1,144,000, representing no change from 2024’s typical assessment of $1,139,000.

Overall, the Lower Mainland region, encompassing Greater Vancouver, the Fraser Valley, the Sea to Sky area, and the Sunshine Coast, saw total assessments grow modestly from $2 trillion in 2024 to $2.01 trillion in 2025. This includes approximately $27 billion from new construction, subdivisions, and property rezonings.

“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.

BC Assessment is encouraging property owners to explore the value of their properties through BC Assessment’s website. It offers different tools, including an interactive map, detailed property trends, and the ability to compare 2025 assessments across the province.

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For those seeking more in-depth analysis, a free BC Assessment account provides access to a property’s 10-year value history, customizable comparisons, and neighbourhood sales data.

“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, 2024 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Murao.

BC Assessment collects, monitors, and analyzes property data year-round to ensure accurate valuations. As property values may impact property taxes, property owners are advised to review their assessments carefully.

“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” explains 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.”