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Moderate increases in property assessments in the North

In the next few days, owners of more than 247,500 properties throughout northern B.C. can expect to receive their 2019 assessment notices, which reflect market value as of July 1, 2018.

“The majority of residential home owners within the region can expect a moderate increase compared to last year’s assessment,” said deputy assessor Jarret Krantz, in a news release. “There are some exceptions to this such as Kitimat where owners’s will see increases of 20 per cent or greater. Also, the Northern Rockies Regional Municipality where there have been decreases in the range of 20 per cent or more.”

The highest assessed property in northern B.C. valued at $3.06 million is located at 6653 Lakeshore Drive, Moberly Lake. It is classed as an acreage. In Prince George, the highest assessed property is also classed as an acreage and is valued at $2.3 million, located at 4204 Cowart Road. The third highest assessed property in the north, it also on Cowart Road and is valued at 2.2 million. It is classed as a single family residential property.

In Prince George, property assessments have increased, on average, 10 per cent over last year.

The summaries below provides estimates of average 2018 versus 2019 assessed values of properties throughout the region. The average is represented by the median, or mid point, value which removes the influence of outliers.

These examples demonstrate market trends for single-family residential properties by geographic area:

Community

2018 Average Assessed Value as of July 1, 2017

2019 Average Assessed Value as of July 1, 2018

% Change

100 Mile House

$198,700

$239,600

+20%

Burns Lake

$131,600

$148,900

+13%

Chetwynd

$222,300

$221,900

0%

Dawson Creek

$253,100

$253,400

0%

Fort St James

$150,600

$159,700

+6%

Fort St John

$326,900

$319,000

-2%

Fraser Lake

$113,400

$132,950

+17%

Granisle

$55,900

$55,600

0%

Hazelton

$106,300

$114,350

+7%

Houston

$147,700

$150,600

+2%

Hudson’s Hope

$161,100

$163,400

+1%

Kitimat

$195,700

$235,300

+20%

Mackenzie

$155,300

$156,300

0%

Masset

$86,750

$97,900

+12%

McBride

$126,300

$125,200

-1%

New Hazelton

$109,600

$111,500

+1%

Northern Rockies RM

$136,200

$104,200

-23%

Port Clements

$63,050

$68,800

+9%

Port Edward

$188,750

$197,500

+4%

Pouce Coupe

$198,000

$200,500

+1%

Prince George

$270,000

$296,800

+10%

Prince Rupert

$264,300

$268,000

+1%

Queen Charlotte

$150,400

$167,300

+11%

Quesnel

$174,150

$188,950

+8%

Smithers

$283,000

$286,000

+1%

Stewart

$97,750

$110,800

+13%

Taylor

$226,600

$223,500

-1%

Telkwa

$238,950

$257,800

+8%

Terrace

$286,050

$312,000

+9%

Tumbler Ridge

$130,400

$128,300

-1%

Valemount

$187,900

$223,100

+18%

Vanderhoof

$218,000

$226,300

+3%

Wells

$71,500

$80,000

+11%

Williams Lake

$213,700

$233,900

+9%

 

As B.C.’s provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year. The table below indicates the Northern BC region’s estimated range of percentage changes to 2019 assessment values by property type compared to 2018. Please note property assessments may vary by jurisdiction or municipality within the region.

Property Type

URBAN areas of Northern BC 2019 Assessments Range of % Changes in Value (as of July 1, 2018)

RURAL areas of Northern BC 2019 Assessments Range of % Changes in Value (as of July 1, 2018)

Residential Single Detached Homes

-10% to +20%

-10% to +25%

Residential Strata Units

(e.g. condominiums)

-10% to +25%

Not Applicable

Commercial

-15% to +20%

-10% to +30%

Light Industrial

-30% to +5%

-5% to +20%

BC Assessment’s website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019’s top valued residential properties across the province. The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2019 property assessments for anywhere in the province. As a new option, property owners can unlock additional property search features by registering for a free BC Assessment custom account to store/access favourites, create comparisons and use our new interactive map.

“Property owners can find a lot of 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, 2018 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” said Krantz. “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 January 31st, for an independent review by a Property Assessment Review Panel.”

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Municipal Affairs and Housing, and typically meet between February 1 and March 15 to hear formal complaints.

“It is important to understand that increases in property assessments do not automatically translate into a corresponding increase in property taxes,” explains Krantz. “How your assessment changes relative to the average change in your community is what may affect your property taxes.”

The Northern BC Region Assessment offices are located at:

Prince George Office – #200 – 1488 4th Avenue, Prince George, BC V2L 4Y2

Dawson Creek Office – #1 – 11612 8 Street, Dawson Creek V1G 4R7

Terrace Office – #100 – 4545 Lazelle Ave, Terrace, BC V8G 4E1

Williams Lake Office – #202 – 350 Barnard Street, Williams Lake, BC V2G 4T9

During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcasssessment.ca

 

 

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