Assessed values for a ‘typical’ or median single-family residential property in Williams Lake rose by seven per cent. (File photo)

Assessed values for a ‘typical’ or median single-family residential property in Williams Lake rose by seven per cent. (File photo)

B.C. Assessment releases property values, Williams Lake up 7%

Some properties owners will see an increase, others a decrease

Property assessments averages have increased in Williams Lake by seven per cent.

In 2020 the typical assessed value in the lakecity as of July 1 was $266,000 compared to $249,000 in 2019, noted BC Assessment in a news release Monday, Jan. 4.

The numbers are determined by the real estate market in the area.

Read more: BC Northern Real Estate Board supports temporary halt to open houses

As that is an average some property owners may see a decrease in assessment while others a increase that is higher than seven per cent.

Assessments are on the website and will be arriving in the mail later this week.

In Quesnel the difference is plus five per cent with the typical assessed value as of July 1, 2020 at $223,00 compared to $212,000 in 2019.

For 100 Mile House the increase is two per cent with the typical assessed valued of $242,000 as of July 1, 2020, up from $236,000 in 2019.

For strata homes such as condos and townhouses the change was one per cent with a typical value in July 2019 of $107,000 up to $108,000 in 2020.

BC Assessment noted its website provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2021 property assessments for anywhere in the province.

“Property owners can find a lot of valuable 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, 2020 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” noted deputy assessor Jarret Krantz.

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 Feb. 1, for an independent review by a Property Assessment Review Panel, added Krantz.

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.

Read more: Property values released by B.C. Assessment



news@wltribune.com

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