Property assessments drop 3 per cent for average Abbotsford home

The value of single-family homes, condos, and townhomes in Abbotsford, BC has dropped by 3% from 2022 to 2023, according to BC Assessment. The overall housing market has stabilized, with commercial and industrial properties increasing in value more than residential ones. The City of Abbotsford has proposed a 5.12% property tax increase for 2024. Residents can appeal their assessments by January 31.