Tuesday, January 4, 2022

BC Assessments for 2022 bring significant property assessment spikes for many homes across Prince Rupert

As it has been for a few years now, the Prince Rupert housing market continues to show increasing assessment valuations in many familiar neighbourhoods, with the Graham Avenue area once again taking the lead in showing some of the largest volumes of increase from BC Assessment.

The full release of information was relayed today, with paper versions on the way to your mailbox through the week ahead, though you can get a head start on your personal property reviews through the BC Assessment online portal.

On average homeowners in Prince Rupert have seen a 31 percent increase in their assessed value in the city, for Port Edward the increase is 41 percent.

The map for the higher assessment values in Prince Rupert for the most part looks much as residents might expect when it comes to the pockets of the city with the highest assessment levels for this year.

Overall there are six areas where the largest concentrations of high assessments were found in Prince Rupert as the paperwork hits the mail this week destined for your mailbox.

Both the western end of Graham which features eleven properties valued at over one million dollars and the upper section of the Silversides neighbourhood at just below the one million dollar threshold (with one crossing over it)  feature the largest volume of those properties in the upper reaches. 

For other areas, the pricing fluctuates from property to property across the city with some significant jumps found, while others are somewhat more modest from the year to year review.

By overall volume, the number of properties at the top end of the valuation scale is higher for the west side. 

An area which once again also hosts the property with the Highest assessment for 2022 located at 2323 Graham Avenue, the home close to the entrance of the cul de sac assessed at $1,149,000.

Other areas featuring some of the higher end property assessments include:

A stretch of Summit Avenue overlooking the golf course and Fourth Avenue West also posted some strong assessment values.

The Edwards Avenue subdivision just off of Eleventh Avenue East has also seen some increased assessment values.

Also claiming some top end assessments was Heron Road adjacent to Charles Hays Secondary.

You can review the full scope of the 2022 assessment from a map provided as part of the BC Assessment online program, simply type in the address of a property in the area you have an interest in and then click on each adjacent property to see how things shape up from home to to home, street to street and area to area.

You can also register for an account to gain access to a range of features including the option of storing a number of properties for comparison as you conduct your search of the community listings, learn more about that option here.

Property owners have until the end of this month to decide if they wish to appeal their assessed level for 2022.

For more notes on the Northwest real estate picture see our archive pages below:

1 comment:

  1. Residential assessments always get the headlines....

    Perhaps a follow up piece on local commercial property assessments and the potential impact on municipal taxation?