The 2025 property assessments in New Westminster reflect “modest” changes from 2024.
BC Assessment has announced the 2025 property assessments for owners of more than 1.1 million properties throughout the Lower Mainland. The 2025 property assessment notices reflect market value as of July 1, 2024.
"Across the Lower Mainland and throughout B.C., the overall housing market has generally stabilized in value for a second consecutive year," BC Assessment assessor Bryan Murao said in a news release. "Most homeowners can expect only modest assessment changes in the range of -5 per cent to +5 per cent."
According to BC Assessment, a single-family home in New West that was assessed at $1,567,000 as of July 1, 2023 saw a one per cent increase to $1,590,000 as of July 1, 2024.
Across the Lower Mainland, assessments for single-family homes ranged from increases of four per cent (including Burnaby) to decreases of three per cent (Surrey). Like New Westminster, Coquitlam, Port Moody, Richmond, Belcarra and Anmore saw one per cent increases in assessments for single-family homes.
On the strata front, a condo/townhouse in New West assessed at $645,000 in 2023 saw a zero per cent increase. It was assessed at $644,000 as of July 1, 2024.
All data is based on median values.
The Lower Mainland region includes all of Greater Vancouver, the Fraser Valley, the Sea to Sky area, and the Sunshine Coast.
"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," Murao said. "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."
As B.C.'s provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year. BC Assessment's website includes more details about 2025 assessments, property information and trends such as lists of 2025's top valued residential properties across the province, and an interactive map.
The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2025 property assessments for anywhere in British Columbia. Property owners can unlock additional property search features by registering for a free BC Assessment account to check a property's 10-year value history, store/access favourites, create comparisons, and monitor neighbourhood sales.
Murao said property owners can find valuable information on the BC Assessment website, including answers to many assessment-related questions. He said property owners 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.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a notice of complaint (appeal) by Jan. 31, for an independent review by a property assessment review panel," Murao said.
The property assessment review panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between Feb. 1 and March 15 to hear formal complaints.
