Thursday, January 2, 2014

2014 Northwest Property Assessment Notices on the way

Now that we've all had time to recuperate from our New Year's Eve celebrations, the cold reality of 2014 quickly comes upon us, as BC Assessment releases it's 2014 Assessment Notices.

For many communities in Northwest BC, 2014 will see their property assessment on the rise, particularly those communities which are currently finding increased economic activity arriving.

Kitimat leads the way in 2014, with a whopping 26.67 per cent change from 2013 to 2014, indicative we imagine of the major turnaround in financial fortunes in that portion of the Northwest.

For Prince Rupert residents, the average change on your property assessment will be 8.89 per cent. With an increase from the average of 2013 of 180,000 dollars to the 2014 valuation of 196,000 dollars.

Port Edward residents will see a slight decrease in their valuations for 2014, with a drop of 4.55 percent from last years numbers.  2013 saw an average property assessment of 132,000 dollars, 2014 sees that figure drop to 126,000 dollars.

Terrace, like Prince Rupert will also see an increase, with an average jump in assessments of 10.91 per cent from 2013 to 2014.  

The 2013 valuation average was 220,000 that jumps to 244,000 for 2014, again an indication as to the growing economic development in that region, represented by the robust nature of the Terrace realty and rental markets over the last 365 days.

You can review the background from today's release of BC Assessments from this media release, which features a table of all communities of the Northwest and Haida Gwaii, offering up a glimpse into the changing nature of property values across the region.

For those looking to compare Northwest Assessments with the rest of the province, the BC Assessment website offers this information archive including the listing of assessments in other British Columbia communities.

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