The $2.3M Gap: Why Your 2026 BC Assessment Is (Partially) Lying to You
If you read your 2026 BC Assessment the wrong way, it can cost you real money.
Most people make one of two mistakes:
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Sellers price off a government number and sit on the market.
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Buyers overpay because they think the assessment equals today’s value.
The Golden Rule
Real estate isn’t Kelowna vs. West Kelowna.
It’s street by street, building by building.
Your BC Assessment is a snapshot from July 1, 2025.
It’s a baseline, not a crystal ball.
📊 2026 Typical Values — Central Okanagan Snapshot
| Area | Home Type | 2026 Trend | Typical Value |
|---|---|---|---|
| Kelowna | Single Family | 📉 Down 2% | $918,000 |
| West Kelowna | Single Family | 📉 Down 1% | $892,000 |
| Lake Country | Single Family | ↔️ Flat | $933,000 |
| Kelowna | Strata (Condo / TH) | 📉 Down 1% | $488,000 |
| West Kelowna | Strata (Condo / TH) | 📈 Up 4% | $557,000 |
Important:
BC Assessment did not publish a typical strata value for Lake Country this year.
If you own there, your value is moving independently.
👉 Reply if you want your exact number.
📍 Real-World Proof: Why Location Beats Averages
These four sales show why your neighbour’s value isn’t your value.
1️⃣ The “Standard”
Verve Condo – North Glenmore
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202-563 Yates Rd
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Sold: $488,500
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Right on the “typical” Kelowna strata value
➡️ Big buildings = tight pricing bands
2️⃣ The “Noise Tax”
Busy-Street Townhome – Glenmore
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1040 Glenmore Dr
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Sold: $500,000
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Assessed: $556,000
➡️ $56,000 gap
Algorithms can’t hear traffic. Buyers can.
3️⃣ The “School Zone” Premium
Family Pocket – Shannon Lake
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2395 Shannon Ridge Dr
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Sold: $945,000
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Assessed: $896,000
➡️ Family streets near schools are outperforming
4️⃣ The “Scarcity” Factor
Okanagan Lakefront
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16236 Carrs Landing Rd
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Sold: $5.8M
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Assessed: $3.5M
➡️ $2.3M gap
Assessments don’t price emotion, views, or lifestyle.
💡 The #1 Property Tax Myth (Very Expensive)
“If my assessment goes down, my taxes go down.”
❌ Not necessarily.
Your tax bill is your share of the city’s budget.
If:
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The city average drops 5%
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Your home drops only 1%
👉 Your taxes likely go up
🧠 Your 5-Step Reality Check (Screenshot This)
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Check the Date
Value is based on July 1, 2025, not today. -
Verify the Facts
Square footage, bedrooms, bathrooms — errors are common. -
Pull Fresh Sales
Don’t price off a 7-month-old government number.
👉 Reply with your address and I’ll send 60-day street-level sales. -
Adjust for Lifestyle
Views, noise, updates, parking, floor level — computers miss this. -
Create a Range
Never price off one number.
Look at the high and low, then choose a strategy.
⚖️ Thinking About Challenging Your Assessment?
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Deadline: February 2, 2026
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Worth it only if:
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The data is wrong, or
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The value is clearly inflated vs real sales
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👉 Reply and I’ll tell you if a challenge is actually worth your time.
📘 Read More
I just published Top 5 BC Assessment Myths for 2026.
The most expensive mistake I see?
Thinking a lower assessment means lower taxes.
That’s Myth #2.
👉 Read the full breakdown here: [Link to Blog Post]
Final Thought
BC Assessment is a starting point — not a pricing strategy, not a tax forecast, and not a development feasibility tool.
If you’re:
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Selling
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Buying
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Building
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Or analyzing an infill or multifamily site
You need real sales, real demand, and real context.
Mark Coons, BBA, CE
REALTOR® | eXp Realty Kelowna
Team Lead, Selling Okanagan Group
Relocated to Kelowna in 2018
📞 778-744-0872
📩 [email protected]
