A new year means new property assessment for British Columbia.

All throughout the province, property assessment have been mailed out and property owners can expect to receive their 2020 assessment notices soon.

They reflect the market value as of July 1, 2019.

You don’t have to wait until it arrives in the mail, however, as you can also check the value of any property in BC through by visiting the BC Assessment website.

“As the 2020 property assessments are released, people living in the regions hardest hit by sky-high property-value increases are seeing a moderating trend in housing prices,” says Selina Robinson, minister of housing.

"This is a positive sign that our government's efforts to make housing more affordable for more British Columbians are having a real impact.”

The total number of properties assessed in 2020 was 2,091,135 and the total value of real estate ended up around $1.95 trillion, a decrease of nearly 2.5%.

Once again, the highest-valued property in BC was Chip Wilson's house in Vancouver, which was assessed around $65 million.