The value of an average single-family home in the Cowichan Valley hasn’t changed much from last year for most properties, according to the latest figures provided by BC Assessment on Jan. 2.
The biggest jump in property values was in the City of Duncan, which saw an increase of just two per cent, from an average $557,000 last year to $568,000 in 2025.
Strata dwellings, including condos and townhouses, also jumped two per cent in value in Duncan and are now $370,000
The Town of Ladysmith had a one per cent increase in single-family homes, which rose in value from an average $705,000 in 2024 to $711,000 in 2025, while the Municipality of North Cowichan and the Town of Lake Cowichan had a zero per cent increase, with North Cowichan single-family properties remaining at an average $727,000, the same as last year, and Lake Cowichan rising just $1,000, from an average $588,000 to $589,000.
However, some individual single-family homes in the Crofton area saw significant decreases in value.
As for strata dwellings, the property values in North Cowichan remain the same in 2025 as last year at $433,000, while they dipped two per cent in Lake Cowichan and are now $345,000, and are down one per cent in Ladysmith where they are valued at $487,000 in 2025.
The 2025 property assessments, which reflect market value as of July 1, 2024, for property owners of almost 400,000 properties throughout Vancouver Island and across the province, are now available at bcassessment.ca.
The updated property assessment notices are being mailed to each property owner, but BCA cautions that there may be delays in receiving them due to the recent postal strike.
“Most homeowners throughout Vancouver Island can expect minimal change with their 2025 assessment values, generally being in the range of minus five per cent to plus five per cent,” said Deputy Assessor Matthew Butterfield.
“Some North Island communities, however, will see larger increases as the recent trends in demand for those real estate markets continues to be strong."
As the province's provider of property assessment information, BCA collects, monitors and analyzes property data throughout the year.
The details of the newly released 2025 property assessments, which include more information about the 2025 assessments, property information and trends, such as lists of 2025's top valued residential properties across the province and an interactive map, can be searched and accessed any time at bcassessment.ca.
The BCA 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 the province.
Overall, Vancouver Island's total assessments increased from over $386 billion in 2024 to almost $391 billion this year.
About $4.89 billion of Vancouver Island's updated assessments is from new construction, subdivisions and the rezoning of properties.
Property owners can unlock additional property search features by registering for a free BCA account to check a property's 10-year value history, store/access favourites, create comparisons, and monitor neighbourhood sales.
“Property owners can find valuable information on our website including answers to many assessment-related questions, but those 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 BCA as indicated on their notice as soon as possible in January," said Butterfield.
“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.”
The PARPs, independent of BCA, are appointed annually by the provincial government, and typically meet between Feb. 1 and March 15 to hear formal complaints.
"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," said Butterfield. "As indicated on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes."
Whether they rent or own, people in B.C. may be eligible for help with their housing costs in 2025, according to a release from the Ministry of Finance.
Renters may be eligible for support through the renter's tax credit and, starting in 2025, income thresholds are increasing for the credit.
Renters can now claim as much as $400 a year off their taxes if their adjusted income is $63,000 or less, or a partial credit for an adjusted income as much as $83,000.
Most homeowners can get a grant to reduce the amount of property tax they pay.
To start the new year, B.C. is adjusting the property value threshold for the homeowner grant so it continues to cover 92 per cent of homeowners, which is an increase of $25,000 from the previous threshold to reflect moderate and stable market conditions.
The Ministry said another support that homeowners can consider if they need more time to pay property taxes is applying to defer their property tax for the year. Families with dependent children, people over 55 and people with disabilities may be eligible.
People can continue to defer as long as they qualify.
