Reprint of BCA News Release. January 2, 2024
PRINCE GEORGE — n the next few days, owners of almost 250,000 properties throughout North Central BC can expect to receive their 2024 assessment notices, which reflect market value as of July 1, 2023.
“Most North Central home owners can generally expect to see assessment changes in the range of about -10% to +10% when they receive their notices in early January, but with some exceptions depending on the community," says North Central BC Deputy Assessor Teria Penner. “Compared to previous years, the region's real estate market has mostly softened and that is reflected with the 2024 property assessments."
As B.C.'s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, North Central BC's total assessments increased from about $90.4 billion
in 2023 to over $95.2 billion this year. A total of about $1.72 billion of the region's updated assessments is from new construction, subdivisions and the rezoning of properties.
The North Central BC region encompasses approximately 70% of the province: stretching east to the Alberta border, north to the Yukon border, and west to Bella Coola including Haida Gwaii and to the south, just north of Clinton.
The summaries below provide estimates of typical 2023 versus 2024 assessed values of properties throughout the region. These examples demonstrate market trends for single-family residential properties by geographic area:*
|
Single Family Homes Changes by Community |
2023 Typical Assessed Value as of July 1, 2022 |
2024 Typical Assessed Value as of July 1, 2023 |
% Change |
| 100 Mile House | $405,000 | $382,000 | -6% |
| Burns Lake | $235,000 | $222,000 | -5% |
| Bella Coola | $232,000 | $238,000 | +2% |
| Chetwynd | $267,000 | $254,000 | -5% |
| Dawson Creek | $280,000 | $277,000 | -1% |
| Fort St James | $199,000 | $207,000 | +4% |
| Fort St John | $343,000 | $335,000 | -2% |
| Fraser Lake | $204,000 | $194,000 | -5% |
| Granisle | $81,000 | $100,000 | +24% |
| Hazelton | $251,000 | $256,000 | +2% |
| Houston | $256,000 | $261,000 | +2% |
| Hudson's Hope | $187,000 | $204,000 | +9% |
| Kitimat | $345,000 | $344,000 | 0% |
| Mackenzie | $161,000 | $174,000 | +8% |
| Masset | $209,000 | $225,000 | +8% |
| McBride | $197,000 | $201,000 | +2% |
| New Hazelton | $192,000 | $212,000 | +11% |
| Northern Rockies RM | $142,000 | $146,000 | +3% |
| Port Clements | $171,000 | $187,000 | +9% |
| Port Edward | $296,000 | $283,000 | -4% |
| Pouce Coupe | $194,000 | $209,000 | +8% |
| Prince George | $450,000 | $438,000 | -3% |
| Prince Rupert | $443,000 | $409,000 | -8% |
|
Queen Charlotte (Haida Gwaii) |
$232,000 | $283,000 | +22% |
| Quesnel | $328,000 | $330,000 | 0% |
| Smithers | $497,000 | $490,000 | -1% |
| Stewart | $157,000 | $179,000 | +14% |
| Taylor | $226,000 | $207,000 | -8% |
| Telkwa | $445,000 | $421,000 | -5% |
| Terrace | $461,000 | $448,000 | -3% |
| Tumbler Ridge | $151,000 | $180,000 | +19% |
| Valemount | $344,000 | $337,000 | -2% |
| Vanderhoof | $325,000 | $319,000 | -2% |
| Wells | $151,000 | $159,000 | +6% |
| Williams Lake | $395,000 | $381,000 | -3% |
*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 North Central BC urban centres:*
|
Strata Homes
(Condos/Townhouses) Changes by Community |
2023 Typical Assessed Value as of July 1, 2022 |
2024 Typical Assessed Value as of July 1, 2023
|
% Change |
| Prince George | $249,000 | $252,000 | +1% |
| Fort St John | $201,000 | $195,000 | -3% |
| Dawson Creek | $214,000 | $173,000 | -19% |
| Kitimat | $231,000 | $271,000 | +17% |
| Smithers | $365,000 | $375,000 | +3% |
| Terrace | $225,000 | $216,000 | -4% |
| Williams Lake | $166,000 | $174,000 | +5% |
*All data calculated based on median values.
BC Assessment's website at bcassessment.ca includes more details about 2024 assessments, property information and trends such as lists of 2024'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 2024 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 valuable information on our website including answers to many assessment-related questions. Those who feel that their property assessment does not reflect market value as of July 1, 2023, 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 Teria Penner.
“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 Penner.
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 Penner. "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."
Have questions?
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.
Media contact:
Teria Penner
Northern BC Regional Deputy Assessor
BC Assessment
Tel. 1-866-825-8322 Ext. 26238 / Cell 250-480-9048
Email: Teria.Penner@bcassessment.ca
Click HERE for BC Assessment’s full media release for the North BC Region.
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