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Property assessments are out; Prince George sees 20 per cent jump

In the next few days, owners of almost 250,000 properties throughout northern B.C. can expect to receive their 2022 assessment notices, which reflect market value as of July 1, 2021.

“All during the pandemic, the real estate market has remained resilient across the province including higher demand throughout Northern BC, which has resulted in higher 2022 assessment values for most homeowners in the region,” said Northen BC Deputy Assessor Beau Rossel, in a news release. “Northern B.C. property values for most communities are generally up five to 35 percent with only a couple of exceptions.”

As B.C.’s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.

Overall, northern B.C.’s total assessments increased from over $72 billion in 2021 to over $81.7 billion this year. A total of about $1.24 billion of the region’s updated assessments is from new construction, subdivisions and the 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 2021 versus 2022 assessed values of properties throughout the region.  These examples demonstrate market trends for single-family residential properties by geographic area:*

Single Family Home Changes by   Community

2021 Typical   Assessed Value

as of July 1, 2020

2022 Ty​pical   Assessed Value
as of July 1, 2021

%

Change

​​100 Mile House $242,000 $321,000 +33%
Burns Lake $179,000 $218,000 +21%
Chetwynd $232,000 $245,000 +6%
Dawson Creek $241,000 $261,000 +8%
Fort St James $149,000 $179,000 +20%
Fort St John $308,000 $329,000 +7%
Fraser Lake $127,000 $157,000 +23%
Granisle $64,000 $73,000 +14%
Hazelton $122,000 $164,000 +35%
Houston $167,000 $226,000 +35%
Hudson’s Hope $163,000 $173,000 +6%
Kitimat $330,000 $329,000 0%
Mackenzie $143,000 $157,000 +10%
Masset $128,000 $163,000 +27%
McBride $141,000 $157,000 +11%
New Hazelton $122,000 $164,000 +35%
Northern Rockies RM $114,000 $130,000 +13%
Port Clements $79,000 $125,000 +58%
Port Edward $191,000 $270,000 +41%
Pouce Coupe $188,000 $204,000 +9%
Prince George $333,000 $401,000 +20%
Prince Rupert $296,000 $389,000 +31%
Queen Charlotte $235,000 $300,000 +28%
Quesnel $223,000 $294,000 +32%
Smithers $362,000 $438,000 +21%
Stewart $109,000 $122,000 +12%
Taylor $213,000 $205,000 -4%
Telkwa $332,000 $416,000 +25%
Terrace $375,000 $440,000 +17%
Tumbler Ridge           $132,000          $145,000 +10%
Valemount $236,000 $268,000 +14%
Vanderhoof           $239,000          $280,000 +17%
Wells $100,000 $141,000 +40%
Williams Lake $266,000 $342,000 +29%​

*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 Home Changes (Condos/Townhouses)By Community

2021 Typical   Assessed Value

as of July 1, 2020

2022 Ty​pical   Assessed Value
as of July 1, 2021

%

Change

Prince George $186,000 $219,000 +18%
Fort St John $215,000 $196,000 -9%
Dawson Creek $196,000 $193,000 -1%
Kitimat $187,000 $197,000 +5%
Smithers $298,000 $336,000 +13%
Terrace $189,000 $225,000 +19%
Williams Lake $108,000 $129,000 +19%​

*All data calculated based on median values.

BC Assessment’s website at bcassessment.ca includes more details about 2022 assessments, property information and trends such as lists of 2022’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 2022 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, and those who feel that their property assessment does not reflect market value as of July 1, 2021 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” said Rossel. 

“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 31, for an independent review by a Property Assessment Review Panel,” added Rossel. 

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,” said Rossel. “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.” 

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