Reprinted with the permission of BC Assessment:
NEWS RELEASE
January 2, 2018
PRINCE GEORGE — In the next few days, owners of more than 247,000 properties throughout the Northern BC region can expect to receive their 2018 assessment notices which reflect market value as of July 1, 2017.
“The majority of residential home owners within the region can expect a slight increase, compared to last year’s assessment,” says Deputy Assessor David Keough. “Most home owners in the Northern BC will see changes in the -10% to +10% range.”
Some home owners will see increases or decreases outside of this range:
- Granisle: +30% to +45%
- Valemount: +20% to +30%
- Wells: +15% to +25%
- Kitmat: -15% to -25%
Commercial property owners in the region will see a similar increase in the range of 0 to 10%. Some commercial property owners will see increases or decreases outside of this range:
- Northern Rockies Regional Municipality in the area of -20%
- Valemount in the area of +20%
- Dawson Creek in the area of -10%
- Pouce Coupe in the area of -10%
- Taylor in the area of -10%
As B.C.’s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, the Northern BC region’s total assessments increased from $60.3 billion in 2017 to $61.8 billion this year. Approximately $1.5 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.
The Northern BC 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 following summary provides the average 2017 and 2018 assessed values of single family residential homes throughout the region, including the percentage changes.
|
Average Single-Family Dwelling Assessed Value |
||||
|
Communities |
2017 Property Assessments (as of July 1, 2016) |
2018 Property Assessments (as of July 1, 2017) |
% Change In Value |
|
|
100 Mile House |
$215,000 |
$223,000 |
+3.4% |
|
|
Burns Lake |
$140,000 |
$148,000 |
+5.7% |
|
|
Chetwynd |
$258,000 |
$250,000 |
-2.9% |
|
|
Dawson Creek |
$261,000 |
$268,000 |
+2.7% |
|
|
Fort St James |
$173,000 |
$178,000 |
+2.9% |
|
|
Fort St John |
$387,000 |
$369,000 |
-4.6% |
|
|
Fraser Lake |
$125,000 |
$125,000 |
+0.2% |
|
|
Granisle |
$42,000 |
$61,000 |
+44.9% |
|
|
Hazelton |
$109,000 |
$111,000 |
+2.6% |
|
|
Houston |
$160,000 |
$160,000 |
+0.2% |
|
|
Hudson's Hope |
$199,000 |
$197,000 |
-0.9% |
|
|
Kitimat |
$278,000 |
$233,000 |
-16.2% |
|
|
Mackenzie |
$164,000 |
$164,000 |
0% |
|
|
Masset |
$125,000 |
$119,000 |
-4.9% |
|
|
McBride |
$141,000 |
$148,000 |
+5.2% |
|
|
New Hazelton |
$137,000 |
$137,000 |
0% |
|
|
Northern Rockies RM |
$179,000 |
$164,000 |
-8.4% |
|
|
Port Clements |
$85,000 |
$87,000 |
+2.4% |
|
|
Port Edward |
$222,000 |
$220,000 |
-0.8% |
|
|
Pouce Coupe |
$212,000 |
$223,000 |
+5.2% |
|
|
Prince George |
$287,000 |
$302,000 |
+5.2% |
|
|
Prince Rupert |
$260,000 |
$276,000 |
+5.9% |
|
|
Queen Charlotte |
$176,000 |
$180,000 |
+2.4% |
|
|
Quesnel |
$195,000 |
$202,000 |
+3.8% |
|
|
Smithers |
$287,000 |
$297,000 |
+3.5% |
|
|
Stewart |
$104,000 |
$113,000 |
+8.5% |
|
|
Taylor |
$336,000 |
$320,000 |
-4.9% |
|
|
Telkwa |
$227,000 |
$234,000 |
+2.7% |
|
|
Terrace |
$309,000 |
$305,000 |
-1.3% |
|
|
Tumbler Ridge |
$146,000 |
$143,000 |
-1.9% |
|
|
Valemount |
$193,000 |
$234,000 |
+21.6% |
|
|
Vanderhoof |
$224,000 |
$223,000 |
-0.6% |
|
|
Wells |
$76,000 |
$91,000 |
+20.1% |
|
|
Williams Lake |
$236,000 |
$245,000 |
+4.0% |
|
*2017 – Average Single Family Dwelling Revised Roll *
*2018 – Average Single Family Dwelling Completed Roll *
BC Assessment’s website at bcassessment.ca includes more details about 2018 assessments, property information and trends such as lists of 2018’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 2018 property assessments for anywhere in the province.
“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, 2017 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Keough.
“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 opportunity to present their information in front of the Property Assessment Review Panel for an independent, third-party review,” adds Keough.
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.
The Northern BC Region Assessment offices are located at:
Prince George Office - #200 – 1488 4th Ave
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
Follow BC Assessment on Twitter, YouTube, Facebook, and LinkedIn.
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Media contact:
David Keough, Deputy Assessor, BC Assessment
Tel. 1.866.825.8322 Ext. 26267 Email: david.keough@bcassessment.ca
Geoff Radtke, Deputy Assessor, BC Assessment
Tel. 1.866.825.8322 Ext. 26271 Email: geoff.radtke@bcassessment.ca
MEDIA BACKGROUNDER
January 2, 2018
Facts on B.C. Property Assessments and the 2018 Assessment Roll
- Total number of properties on the 2018 Roll is 2,044,482, an approximate 1.17% increase from 2017.
- Total value of real estate on the 2018 Roll is over $1.86 trillion, an increase of nearly 12% from 2017.
- Total amount of ‘non-market change’, including new construction, rezonings and subdivisions is approximately $31.6 billion, an increase of almost 28% from the 2017 Roll of $24.7 billion.
- In B.C., approximately 88% of all properties are classified with some residential (Class 1) component. This equates to $1,445,509,108,324 of the value on the total provincial roll.
- Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.
- Assessments are the estimate of a property’s market value as of July 1, 2017 and physical condition as of October 31, 2017. This common valuation date ensures there is an equitable property assessment base for property taxation.
- Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property. When estimating a property’s market value, BC Assessment’s professional appraisers analyze current sales in the area, as well as considering other characteristics such as size, age, quality, condition, view and location.
- Real estate sales determine a property’s value which is reported annually by BC Assessment. Local governments and other taxing authorities are responsible for property taxation and, after determining their own budget needs this spring, will calculate property tax rates based on the assessment roll for their jurisdiction.
- BC Assessment’s assessment roll provides the foundation for local and provincial taxing authorities to raise over $7.5 billion in property taxes each year. This revenue funds the many community services provided by local governments around the province as well as the K-12 education system.
- BC Assessment’s website provides a listing of property assessments and sales to help property owners understand their property's market value and provide comparable sales information. Go to bcassessment.ca and use “Find your property assessment”. For more information on the 2018 Assessment Roll and regional and province-wide real estate market trends including lists of the province’s top valued residential properties, please visit www.bcassessment.ca and click on the “Property Information & Trends” link.