In the next few days, owners of almost 250,000 properties throughout northern B.C. can expect to receive their 2021 assessment notices, which reflect market value as of July 1, 2020.
“For most of northern B.C.’s homes, there has been a moderate increase compared to last year’s assessments,” said Deputy Assessor Jarret Krantz. “In some instances, there has been a larger increase in rural areas within the region, particularly with lakefront properties.”
As B.C.’s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
The table below indicates British Columbia’s estimated range of percentage changes to 2021 assessment values for residential properties compared to 2020. Please note property assessments may vary by jurisdiction or municipality across the province,
|Property Type||British Columbia: Province-wide2021 AssessmentsRange of % Changes in Value for the Majority of Residential Properties(as of July 1, 2020)|
|Residential Single Family Homes||0% to +10%|
|Residential Strata Homes(e.g. condos/townhouses)||0% to +10%|
Overall, northern B.C.’s total assessments increased from over $69 billion in 2020 to over $72 billion this year. A total of about $707 million of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.
The northern B.C. region encompasses approximately 70 per cent of the province stretching east to the Alberta border, north to the Yukon border, west to Bella Coola including Haidi Gwaii and to the south, just north of Clinton.
The summaries below provides estimates of typical 2020 versus 2021 assessed values of properties throughout the region. These examples demonstrate market trends for single-family residential properties by geographic area:*
|Single Family Homesby Community||2020 TypicalAssessed Valueas of July 1, 2019||2021 TypicalAssessedValueas of July 1, 2020||%Change|
|100 Mile House||$236,000||$242,000||+2%|
|Fort St James||$159,000||$149,000||-6%|
|Fort St John||$313,000||$308,000||-2%|
|Northern Rockies RM||$103,000||$115,000||+12%|
*All data calculated based on median values.
These examples demonstrate market trends for strata residential properties (e.g. condos/townhouses) by geographic area for select Northern BC urban centres:*
|Strata Homes(Condos/Townhouses)by Community||2020Typical Valueas of July 1, 2019||2021TypicalValueas of July 1, 2020||%Change|
|Fort St John||$217,000||$217,000||0%|
*All data calculated based on median values.
BC Assessment’s website at bcassessment.ca includes more details about 2021 assessments, property information and trends such as lists of 2021’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 2021 property assessments for anywhere in the province. Property owners can unlock additional property search features by registering for a free BC Assessment custom account to check a property’s 10-year value history, store/access favourites, create comparisons, monitor neighbourhood sales, and use our interactive map.
“Property owners can find a lot of 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, 2020 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Deputy Assessor Jarret 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 February 1st, for an independent review by a Property Assessment Review Panel,” addsKrantz.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between February 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,” explains Krantz. “As noted on your Assessment Notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”
Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcassessment.ca. During the month of January, hours of operation are 8:30 a.m. to 5:00 p.m., Monday to Friday.