It’s that time of year again. The 2020 BC Property Assessments have just arrived in the mail. As I have reminded people for the past 8 years… The BC property assessed value has little resemblance to what a property is actually worth (Market Value). It's simply a very conservative estimate of what your home is worth based on sales as of July 1 2019. Homes generally sell above and sometimes well above the assessed value about 80% of the time. This year will be no exception as the values on most Vancouver homes and condos has gone down anywhere from 6-15% in 2020.