Property owners in the Cariboo will see a slight increase on average in the assessed value of single family residential homes.
Quesnel, Williams Lake and 100 Mile House property values have increased 3.8 per cent, 4 per cent and 3.4 per cent respectively.
Homes in Quesnel increased from an average assessed value of $195,000 on 2017 property assessments to $202,000 on 2018 property assessments.
Homes in Williams Lake increased from an average of $236,000 to $245,000 over the course of the year, while homes in 100 Mile House increased from an average of $215,000 to $223,00.
In the next few days, owners of more than 247,000 properties throughout the Northern B.C. 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.”
Communities that will see notable jumps in their property assessments include; Granisle with a 30 to 45 per cent increase in value, Valemount with a 20 to 30 per cent increase in value, Wells with a 15 to 25 per cent increase in value and Kitimat with a 15 to 25 per cent decrease in value.
Commercial property owners in the region will see a similar increase in the range of zero to 10 per cent.
Some commercial property owners that will see increases or decreases outside of this range include: Northern Rockies Regional Municipality with a 20 per cent decrease in value, Valemount with a 20 per cent estimated increase in value, Dawson Creek with an estimated decrease of 10 per cent, Pouce Coupe with a decrease of 10 per cent and Taylor, also with an estimated 10 per cent decrease.
BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, the Northern B.C. 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 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.