Monday, January 8, 2018

Prince Rupert Property Assessments hold firm, or feature slight increase for 2018

British Columbia Assessments rang in the New year with their annual delivery of property assessments for the province and in the Northwest, the changing nature of the mega projects proposed for the region has had some impact on property valuations in a number of communities, though when it comes to property values for Prince Rupert there was little shift in the results from one year ago.

As they reviewed their information online, or examined the print copy delivered with your letter mail of last week, Prince Rupert property owners for the most part saw an average increase of 5.9 per cent from July 2016 to July 2017. 

This year, the average single family dwelling in the city hosts an assessed value of $276,000 up 16,000 dollars from the year before.

The Prince Rupert findings, made for the largest increase of the four largest communities of the northwest, with Smithers also showing a 3.5 per cent increase for the 2018 Assessment rolls, making the value of the average single family dwelling in that Community set at $297,000.

As for the downward trends, Terrace registered a 1.3 per cent decline for 2017, while Kitimat saw the largest shift for the region, with a 16.2 percent drop in assessed value for the year just ended.

The average property assessment for the Aluminum City is now listed at $233,000 down from $278,000 recorded a year ago.

Port Edward also saw a subtle shift downward in the assessment notes, with a decline of 0.8 percent on the year, making the average value of a home in Port Edward sitting at $220,000.

A snap shot for the Northwest can be reviewed from our list below, which features the average value and percentage change as of January 1, 2018.

Northwest BC

Burns Lake -- $148,000 ( +5.7 %)
Hazelton -- $111,000 ( +2.6 % )
New Hazelton -- $137,000 ( 0% )
Houston -- $160,000 ( +0.2 %)
Kitimat -- $233,000 ( -16.2 %)
Port Edward  -- $220,000 ( -0.8 % )
Prince Rupert -- $276,000 ( +5.9 %)
Smithers -- $297,000 ( +3.5% )
Telkwa -- $234,000 ( +2.7% )
Stewart -- $113,000 ( +8.5% )
Terrace -- $305,000  ( -1.3%)

Haida Gwaii

Masset -- $119,000 ( -4.9% )
Port Clements -- $87,000 ( +2.4% )
Queen Charlotte  -- $180,000 ( +2.4% )

The full list of Northern British Columbia Assessment changes is available here.

When it comes to the top end assessments for Northern British Columbia, Prince Rupert doesn't crack the list of 100 until the late 50's with a Graham Avenue property marked with a Total Taxable value of 1,035,000, ranked at 57th on the BC Assessment listings for the North.

The BC Assessments website outlines the key elements for this years assessment period, with instructions as to how you can file an appeal and a look at how the assessment process works.

 You can do your own comparison of properties near your own through the BC Assessment website, which features a search engine to allow you a snap shot of property valuations in your neighbourhood.

Should you be looking to request an independent review of the assessment of your property you have until January 31st to file your written notice of complaint. The review of the key dates related to the BC assessment process can be examined here.

You can contact the Terrace office of BC assessments for more details on your property assessment questions.

For more items related to Housing issues around the Northwest see our archive page here.

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