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Home News Fort St. John, Taylor property values drop approximately five percent

Fort St. John, Taylor property values drop approximately five percent

PRINCE GEORGE, B.C. – The owners of more than 246,000 properties across Northern BC can expect to receive their 2017 assessment notices that reflect their property’s market value in the next few days.

BC Assessment has published the list of over two million assessed property values in the entire province on Tuesday. The assessments are the estimate of a property’s market value as of July 1, 2016, and physical condition as of October 31, 2016.

Deputy Assessor David Keough said that, “The majority of residential home owners within the region can expect a slight increase, compared to last year’s assessment. Most home owners in the Northern BC region will see changes in the 0% to +10% range.”

While most communities in Northeast BC saw increases, Fort St. John and Taylor were outliers, with a decrease in property values of roughly five percent. Commercial property owners in the both Fort St. John and Taylor also saw decreases in the value of commercial or industrial-zoned properties, with drops of 2.27 and 7.15 percent respectively. The average value of a single-family detached home in Fort St. John fell from $404,000 to $387,000, a drop of 4.39 percent. In Taylor, house values fell 5.64 percent, from $356,000 to $337,000. Dawson Creek saw an increase from $260,000 to $261,000, while Tumbler Ridge saw an increase in house values of over five percent.

Despite this, the four highest valued residential properties in Northern BC are located in the Fort St. John area, with an acreage at 17516 259 Rd. topping the list at a value of  $2,742,000.

Overall, Northern BC’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.

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