BC Assessment Values Drop Across Langley This Year

Lower Mainland homeowners face declining values as BC Assessment releases 2026 roll

Homeowners across Langley Township and Langley City are receiving their 2026 property assessment notices this month, and the news reflects a cooling housing market that has hit many families' biggest asset.

Single-family homes in Langley Township dropped to a median assessed value of $1,406,000, down 3% from last year's $1,448,000, while City properties fell even further to $1,207,000, an 8% decline from $1,310,000.

For first-time homeowners or those new to BC's property system, these annual notices can feel confusing. Here's what you need to know about BC Assessment, why it matters, and what steps you should take this month.

What is BC Assessment?

BC Assessment is the provincial Crown corporation responsible for valuing every property in British Columbia. Each January, they mail assessment notices showing what your property was worth on July 1 of the previous year.

These assessments reflect market value as of July 1, 2025, with the physical condition of properties as of October 31, 2025.

Think of it as an annual snapshot of your property's market value. BC Assessment employs professional appraisers who analyze recent sales in your area, along with characteristics like your home's size, age, quality, condition, view, and location.

The goal is to create a fair and uniform assessment base that local governments use to distribute the property tax burden across communities.

It's crucial to understand that changes in property assessments don't automatically translate into corresponding changes in property taxes. Your assessment determines your share of the municipal tax burden, not the total amount you'll pay.

Your actual tax bill depends on your municipality's budget needs and the tax rates Langley Township or City Council sets this spring.

Why assessments matter

For homeowners struggling with affordability, these declining assessments tell a bigger story.

The drops align with a broader cooling period across the Lower Mainland, driven by higher interest rates, reduced buyer demand, and fewer competitive bidding situations.

This affects refinancing options, home equity, and financial planning for families who rely on their home as their primary source of wealth.

Multi-family properties saw similar declines.

In Langley Township, condos and townhouses dropped to a median of $737,000, down 3% from $761,000, while City multi-family units fell to $521,000, down 5% from $547,000.

For renters, these assessments matter too. Property taxes are often passed through to tenants, and the assessment system shapes how much landlords pay, which influences rental costs across the community.

What to do with your assessment notice

If you haven't received your 2026 assessment notice yet, don't panic.

BC Assessment began mailing them January 2 and will continue through the end of the month.

You can also access your assessment immediately online at bcassessment.ca.

Here's what you should do:

1. Review your property details carefully Check that basic information is correct: square footage, number of bedrooms and bathrooms, lot size, and property classification. Errors in these details can affect your assessment value.

2. Compare with similar properties BC Assessment's website offers free tools to search and compare assessments for similar homes in your neighbourhood. Look at properties of similar size, age, and condition that sold around July 1, 2025.

3. Understand the appeal deadline If you believe your assessment doesn't reflect market value as of July 1, 2025, or if you see incorrect information, you have until February 2, 2026 to file a Notice of Complaint. This deadline was extended because January 31 falls on a weekend this year.

4. Contact BC Assessment first Before filing a formal appeal, call BC Assessment at 1-866-825-8322 during January (hours are 8:30 a.m. to 5 p.m., Monday to Friday). Typically, more than 98% of property owners accept their assessments without proceeding to formal review, and many concerns can be resolved through discussion with BC Assessment staff.

Tools available on BC Assessment's website

BC Assessment's website (https://www.bcassessment.ca/) offers several free tools that new homeowners should know about:

Assessment Search: The main tool lets you search by civic address, roll number, or property identification number (PID). You can view your full assessment details and download a digital copy of your notice.

Compare Properties: Once you've found your property, you can compare it with similar homes in your area to see how your assessment stacks up.

Interactive Maps: BC Assessment provides interactive property trend maps showing local market trends for various communities, average market movement for different property classes, and even the top 500 valued residential properties across BC.

Sales Information: You can access recent sales data for comparable properties, which is essential if you're considering an appeal.

Forms and Appeals: The website provides online forms for filing appeals, changing your mailing address, or updating property information.

FAQ and Educational Resources: BC Assessment maintains extensive guides explaining how assessments work, what affects property values, and how the appeal process functions.

Creating a free account on the BC Assessment website lets you save favorite properties, view comparison history, and access your search selections across all your devices.

The bigger picture: What this means for Langley

These declining assessments reflect real economic pressures facing Langley residents.

Housing has become less affordable even as values decline, because high interest rates make mortgages more expensive.

The cooling market creates uncertainty for homeowners who were counting on equity growth, while first-time buyers face a confusing landscape where prices remain high despite falling assessments.

Local governments rely on property assessments to fund essential services including schools, roads, transit, parks, and municipal operations.

When assessments decline across a community, it doesn't automatically mean lower taxes for everyone. Councils still need to raise the same amount of revenue to maintain services, which means tax rates may need to adjust upward even as individual property values fall.

This is why it's important to review your assessment carefully: if your property declined less than the neighbourhood average, you might see a tax increase even though your home is worth less.

Conversely, if your property declined more than average, you might see lower taxes despite a higher assessment number.

Getting help

If you're overwhelmed by your assessment notice or unsure whether to appeal, you have options.

BC Assessment staff are available throughout January to answer questions and explain your notice. Many concerns can be resolved with a simple phone call.

For formal appeals, independent Property Assessment Review Panels meet between February and mid-March to hear complaints. These panels are separate from BC Assessment and provide an impartial review of your case.

Remember, you're not alone in navigating this system. Property assessment is complex, but understanding it empowers you to advocate for fair treatment and make informed decisions about your most valuable asset.

The February 2 deadline is firm, so if you have concerns about your assessment, act now.

Don't wait until the last minute to gather comparable sales data or contact BC Assessment with questions.