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Assessed value of homes in Northeast B.C. drops; except in Dawson Creek

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FORT ST. JOHN, B.C. — Homeowners in Fort St. John and the rest of B.C. can expect to receive their 2018 assessment notices, which reflect the market value of their property as of July 1, 2017, very soon.

The average single-family dwelling in Fort St. John went down 4.6 percent — from $387,000 to $369,000 in one year.

According to the report, only two communities in Northeast B.C. saw an increase in the value of an average single-family dwelling.  Those communities are Dawson Creek and Pouce Coupe which saw 2.7 percent and 5.2 percent increase.  The rest of the communities all saw a drop in assessed value.

Residential Property Values in Northeast B.C.

 

BC Assessment says Northern B.C.’s total assessed value increased from $60.3 billion in 2017 to $61.8 billion. Almost $1.5 billion of that is from new construction, subdivisions, and rezoning of properties.

Commercial property owners could see the biggest change in Northeast B.C.  Commercial property in the Northern Rockies Regional Municipality dropped by 20 percent.  Dawson Creek, Taylor and Pouce Coupe all saw a 10 percent drop in property values.  Fort St. John continues to buck the trend for commercial property.  That community saw a 2.63 percent increase from 2017.

According to Deputy Assessor David Keough, property owners can find a lot of information on their website  “but those who feel that their property assessment does not reflect market value as of July 1, 2017, or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Keough.

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“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 opportunity to present their information in front of the Property Assessment Review Panel for an independent, third-party review,” adds Keough.

For more information about assessments in B.C., visit bcassessment.ca

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Municipal Affairs and Housing, and typically meet between February 1 and March 15 to hear formal complaints.

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