The financial value of homes in Pitt Meadows and Maple Ridge fell for 2026, according to BC Assessment – which sent out its annual property assessment notices starting on Jan. 2.
The typical or median assessed value for a single-family home in Pitt Meadows this year (as of July 1, 2025) is $1,239,000, down from $1,285,000 in 2024, a four-per-cent decline.
In Maple Ridge, values dropped to $1,183,000, a three -per-cent drop from 2025’s value of $1,223,000.
For multi-family homes, which includes both condos and townhouses, the median value in Maple Ridge was $650,000 in 2025, down two per cent from $635,000 the year before.
Comparison assessments for strata homes in Pitt Meadows varied only one per cent down, from $667,000 to $657,000.
Local declines were in line with a trend seen across the Lower Mainland, where assessed values generally dropped in a range of up to 10 per cent, said BC Assessment assessor Bryan Murao.
“The softening housing market is being reflected in 2026 property assessments,” Murao said.
Vancouver Island and B.C.’s Southern Interior saw a more balanced market, with changes ranging between a decline of five per cent to an increase of five per cent, while Northern B.C. and the Kootenay region were down as much as five per cent in some areas, up to as much as 15 per cent in others.
In the Lower Mainland, total assessed values of the 1,140,000 properties covered declined from a value of $2.01 trillion to $1.92 trillion.
That’s despite the addition of $24 billion in new construction and rezonings of properties since the last round of assessments.
The annual assessment values are a snapshot based on sales of similar homes in nearby areas, and the numbers reflect the market values from July 1 of 2025, so they do not capture changes up or down in value since then.
Assessed values are used to calculate property taxes, but just because the value of a home has gone up or down does not mean that property taxes will go up or down.
Cities adjust their property taxes to collect roughly the same tax revenue each year, plus any additional increases, with the assessment change factored in.
Therefore, if a property’s assessed value rises faster than the average for its type, the owner will see a slightly higher tax bill. If a property’s value drops faster than the trend, they will see a slightly lower tax bill.
Homeowners will get an assessment notice in the mail, but they can also check out their property’s assessed value at bcassessment.ca by inputting their address.
Landowners can appeal their assessment, but the deadline to file an appeal is Feb. 2 this year.
In the meantime, the province also announced that the threshold for the provincial homeowner grant for residential properties has been set at $2.075 million for 2026, providing modest property tax relief to eligible homeowners.
This year’s B.C. threshold is down from $2.175 million last year.
Basic grant amounts remain unchanged, offering as much as $570 for properties in the Fraser Valley and Metro Vancouver regions.
And for seniors, veterans, and people with disabilities, or those living with a relative who has a disability, they may be eligible for additional grants for as much of $845 in the Lower Mainland.
Learn more about or apply for the B.C. homeowner grant is available online.