Property Assessment increases of 6.5% for Prince Rupert, 14.86% for Port Edward for 2017

Now that we've all had some time to review how our own property values may be shaping up this year, that after the release of the BC Assessment notices for 2017, we can take a quick peek at how Prince Rupert and Port Edward have compared with other communities around the Northwest this year.

As we outlined on the blog last week, BC assessment posted the results for the 2017 Assessment online this year, with follow up notices arriving in mailboxes later last week.

From those returns we can now get a better understanding of which communities face the largest assessment increase for the year to come, as well as a snapshot of how the region is holding up through the various economic conditions that are being found from Haida Gwaii to beyond the Bulkley Valley.

For communities west of Burns Lake, Port Edward has seen the largest increase in the average assessment values, with an average Single Family Dwelling in the community increasing from $189,000 in 2016 to $222,000 for 2017, an increase of 14.86 percent.

Prince Rupert hosted the next highest increase for the western side of the Highway 16 corridor for this year, with an average Single Family Dwelling shifting upwards from the 2016 value of $244,000, with the 2017 assessment value now pegged at $260,000, making for a 6.15 per cent increase from last year.

The chart for all Northwest Communities looks as follows:

Port Edward
2016 -- $189,000
2017 -- $222,000
An increase of 14.86 per cent

Houston
2016 -- $143,000
2017 -- $160,000
An increase of 10.63 percent

New Hazelton
2016 -- $128,000
2017 -- $137,000
An increase of 6.57 per cent

Prince Rupert
2016 -- $244,000
2017 -- $260,000
An increase of 6.15 per cent

Queen Charlotte
2016 -- $166,000
2017 -- $175,000
An increase of 5.14 per cent

Fort St. James
2016 -- $164,000
2017 -- $172,000
An increase of 4.65 percent

Burns Lake  
2016 -- $133,000
2017 -- $139,000
An increase of 4.32 per cent

Stewart
2016 -- $101,000
2017 -- $105,000
An increase of 3.81 per cent

Port Clements
2016 -- $83,000
2017 -- $85,000
An increase of 2.35 per cent

Hazelton 
2016 -- $106,000
2017 -- $108,000
An increase of 1.85 percent

Telkwa
2016 -- $223,000
2017 -- $227,000
An increase of 1.76 per cent

Smithers
2016 -- $282,000
2017 -- $287,000
An increase of 1.74 per cent

Terrace
2016 -- $309,000
2017 -- $309,000
No change from year previous

Masset
2016 -- $124,00
2017 -- $124,000
No change from year previous

Kitimat
2016 -- $290,000
2017 -- 277,000
A decrease of 4.69 percent

Granisle
2016 -- $50,000
2017 -- $42,000
A decrease of 19.05 percent

You can find more information about real estate around the region reviewed here, while issues related to housing issues around the Northwest can be examined on our Housing archive page here.