Reprinted with the permission of BC Assessment:
NEWS RELEASE
January 3, 2017
NORTHERN BC REGION 2017 PROPERTY ASSESSMENT NOTICES IN THE MAIL
PRINCE GEORGE — In the next few days, owners of more than 246,000 properties throughout the Northern BC region can expect to receive their 2017 assessment notices which reflect market value as of July 1, 2016.
As B.C.’s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
“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 region will see changes in the 0% to +10% range.”
Some home owners will see increases or decreases outside of this range:
- Granisle in the area of -20%
- Northern Rockies Region (Fort Nelson) in the area of -50%
- Fort St. John in the area of -5%
- Taylor in the area of -5%
- Port Edward in the area of +15%
- Kitmat in the area of -5%
- (values have continued to decrease beyond the valuation date of July 1, 2016. )
Commercial property owners in the region will see a similar increase in the range of 0 – 10%. Some commercial property owners will see increases or decreases outside of this range:
- Kitimat in the area of -10%
- Masset in the area of +16%
- Northern Rockies Region (Fort Nelson) in the area of -25%
- Port Clements in the area of -11%
- Queen Charlotte in the area of +19%
- Stewart in the area of +15%
- Valemount vacant commercial land over +50%
Overall, the Northern BC Region’s total assessments increased from $59.2 billion in 2016 to $60.3 billion this year which equates to a 1.9 per cent increase in the assessment roll. A total of almost $800 million 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 before Clinton.
The following summary provides the average 2016 and 2017 assessed values of single family residential homes throughout the region:
|
Average Single-Family Dwelling Assessed Value |
||||
|
Communities |
2016 |
2017 |
% Change In Value |
|
|
100 Mile House |
$199,000 |
$215,000 |
7.44% |
|
|
Burns Lake |
$133,000 |
$139,000 |
4.32% |
|
|
Chetwynd |
$248,000 |
$258,000 |
3.88% |
|
|
Dawson Creek |
$260,000 |
$261,000 |
0.38% |
|
|
Fort St James |
$164,000 |
$172,000 |
4.65% |
|
|
Fort St John |
$404,000 |
$387,000 |
-4.39% |
|
|
Fraser Lake |
$125,000 |
$124,000 |
-0.81% |
|
|
Granisle |
$50,000 |
$42,000 |
-19.05% |
|
|
Hazelton |
$106,000 |
$108,000 |
1.85% |
|
|
Houston |
$143,000 |
$160,000 |
10.63% |
|
|
Hudson's Hope |
$198,000 |
$199,000 |
0.50% |
|
|
Kitimat |
$290,000 |
$277,000 |
-4.69% |
|
|
Mackenzie |
$153,000 |
$163,000 |
6.13% |
|
|
Masset |
$124,000 |
$124,000 |
0.00% |
|
|
McBride |
$137,000 |
$140,000 |
2.14% |
|
|
New Hazelton |
$128,000 |
$137,000 |
6.57% |
|
|
Northern Rockies RM |
$265,000 |
$179,000 |
-48.04% |
|
|
Port Clements |
$83,000 |
$85,000 |
2.35% |
|
|
Port Edward |
$189,000 |
$222,000 |
14.86% |
|
|
Pouce Coupe |
$205,000 |
$213,000 |
3.76% |
|
|
Prince George |
$268,000 |
$286,000 |
6.29% |
|
|
Prince Rupert |
$244,000 |
$260,000 |
6.15% |
|
|
Queen Charlotte |
$166,000 |
$175,000 |
5.14% |
|
|
Quesnel |
$186,000 |
$194,000 |
4.12% |
|
|
Smithers |
$282,000 |
$287,000 |
1.74% |
|
|
Stewart |
$101,000 |
$105,000 |
3.81% |
|
|
Taylor |
$356,000 |
$337,000 |
-5.64% |
|
|
Telkwa |
$223,000 |
$227,000 |
1.76% |
|
|
Terrace |
$309,000 |
$309,000 |
0.00% |
|
|
Tumbler Ridge |
$138,000 |
$146,000 |
5.48% |
|
|
Valemount |
$174,000 |
$192,000 |
9.38% |
|
|
Vanderhoof |
$222,000 |
$224,000 |
0.89% |
|
|
Wells |
$75,000 |
$75,000 |
0.00% |
|
|
Williams Lake |
$223,000 |
$235,000 |
5.11% |
|
*2016 – Average Single Family Dwelling Revised Roll
*2017 – Average Single Family Dwelling Complleted Roll *
BC Assessment’s website at bcassessment.ca includes more details about 2017 assessments, property information and trends such as lists of 2017’s top valued residential properties across the province. The website also provides self-service access to the free online e-valueBC service that allows anyone to search, check and compare 2017 property assessments 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, 2016 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 independent review by a Property Assessment Review Panel,” adds Keough.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, 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 - #1112 – 103rd Ave
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 contacts:
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 3, 2017
Facts on B.C. Property Assessments and the 2017 Assessment Roll
- Total number of properties on the 2017 roll is 2,017,364, an approximate 1% increase from 2016.
- Total value of real estate on the 2017 roll is $1,667,918,048,627 ($1.67 trillion), an increase of over 25% from 2016.
- Total amount of ‘non-market change’, including new construction, rezonings and subdivisions is approximately $25.2 billion, an increase of almost 24% from the 2016 roll of $20.4 billion.
- In B.C., approximately 88% of all properties are classified with some residential (Class 1) component. This equates to $1,298,409,769,982 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, 2016 and physical condition as of October 31, 2016. 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 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 click on the e-valueBC link. For more information on the 2017 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.