Here is part 2 on the 2016 BC tax assessments. We are all well aware that the assessed value on lower mainland homes has gone way up for 2016. Depending on the type of home and neighbourhood  it’s up between 15% and 35%. People should realize that the market value (what that home would sell for on the open market is much higher). I will also explain why if your assessed value went up 25%  your property taxes will not be going up by the same amount.