🛑 5 Myths About Your 2026 BC Assessment That Could Cost You Money

The blue and white envelopes from BC Assessment arrive every January. Homeowners across Kelowna and the Central Okanagan open them and either celebrate… or panic.

Here’s the truth most people miss:

That number is often misunderstood — and sometimes misleading.

If you’re thinking about selling in 2026, worried about property taxes, or just trying to understand your real home value, these myths matter.

Myth #1: “My assessment is what my home is worth today.”

Reality:
Your 2026 BC Assessment is based on market conditions as of July 1, 2025. It’s a rear-view mirror, not today’s price.

A lot can change in six months — interest rates, buyer confidence, inventory, and even how picky buyers are.

Curious how much your specific street has changed since last July?
👉We can help you get clarity on your true home's equity position here. We will send you actual sold data to help you determine a true value of your property not a computer generated number from 6 months ago ;).

Myth #2: “If my assessment went down, my taxes will go down.”

Reality:
Property taxes are relative, not absolute.

If Kelowna values drop 5% overall but your home only drops 1%, your tax share can actually go up.

You only see relief if your property underperforms the neighborhood average.

Myth #3: “BC Assessment came inside my home.”

Reality:
Almost never.

BC Assessment uses mass appraisal — algorithms, permits, age, size, and broad sales data. They don’t know:

• You spent $80K on a kitchen

• Your unit faces traffic

• Your neighbor’s yard backs onto peace and quiet

Does your assessment feel off compared to your actual home?
👉 Send us your address and we’ll flag whether the computer likely missed something important.

Myth #4: “A high assessment is always good news.”

Reality:
Only if you’re selling right now.

If you’re staying put, a high assessment can mean:

• Higher taxes

• No extra cash

• No guarantee buyers will agree

A strong assessment helps sellers, not long-term holders.

Myth #5: “The assessment is final — I can’t challenge it.”

Reality:
You can appeal until February 2, 2026.

Appeals work best when there are factual or locational mismatches, not just opinions. You need solid comparable sales — not emotion.

Why Location Emotion Breaks the Assessment Model (Real Examples)

Here’s what we see in real Kelowna sales:

• Verve Condo (North Glenmore)
  Sold around $488K–$500K, closely matching assessment.
  👉 Buildings with many similar units create tight, accurate comps.

• Busy-Street Townhome
  Sold $500K, assessed $556K (about 10% lower in reality).
  👉 Road noise and exposure matter more than averages.

• Shannon Ridge Dr (Shannon Lake, West Kelowna)
  Sold $945K, assessed $896K (about 5.5% over).
  👉 Family pockets near schools often outperform the broader market.

• Okanagan Lake Waterfront
  Sold $5.8M, assessed $3.5M (about 66% over).
  👉 Scarcity, views, and lifestyle premiums don’t fit algorithms.

Big takeaway:
BC Assessment measures data — buyers pay for emotion, privacy, views, and lifestyle.

🛠 Your 2026 BC Assessment Action Plan

Before you celebrate or complain, get clarity.

We focus on micro-location data — not Kelowna averages, but your street, your exposure, your competition.

Book a Free 15-Minute BC Assessment Reality Check
We’ll show:

• What your home would likely sell for today

• Whether an appeal makes sense

• How your street compares — not just your postal code

👉 Book your call with Mark & Maddie

Mark Coons, BBA, CE
REALTOR® | eXp Realty Kelowna
Team Lead, Selling Okanagan Group
Relocated to Kelowna in 2018
📞 778-744-0872
📩 [email protected]