BC Assessment vs Market Value in Kelowna: Know the Difference

Ever wonder why your BC Assessment doesn’t match your home’s listing price? You’re not alone — it’s a common question for Kelowna homeowners.

Here’s the truth: BC Assessment is for taxes, not pricing.

It’s:

• A mass appraisal done once a year (July 1 data)
• Based on averages, formulas, and limited property info
• Often outdated by the time you sell

It’s not a current market value, a guarantee of price, or reflective of buyer demand in Kelowna.

Market value, on the other hand, is what a ready buyer will pay today, influenced by:

• Recent sales nearby
• Competition from other buyers
• Supply and demand in the Okanagan
• Your home’s condition, upgrades, and location

Two homes can look similar but sell for very different prices — especially here in Kelowna, where lake views, lot placement, and renovations make a huge difference.

Bottom line: BC Assessment is a tax tool. Market value is what buyers actually pay.

Want to know what your Kelowna home is really worth? Contact us today!