Property Assessments Coming

Prince George, BC, Canada / CKPG-TV
Property Assessments Coming

Residents of the city and region can expect property assessments to start showing up in their mailboxes this week.
According to BC Assessment, property values in Prince George rose by just over 6 percent, with the average house price rising from $268,000 in 2016 to $286,000 for 2017.
The Northern Rockies, which includes Fort Nelson, saw property values fall by nearly 50 percent.

* Total amount of ‘non-market change’, including new construction, rezonings and subdivisions is approximately $25.2 billion, an increase of almost 24% from the 2016 roll of $20.4 billion.
* In B.C., approximately 88% of all properties are classified with some residential (Class 1) component. This equates to $1,298,409,769,982 of the value on the total provincial roll.
* Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.
* Assessments are the estimate of a property’s market value as of July 1, 2016 and physical condition as of October 31, 2016. This common valuation date ensures there is an equitable property assessment base for property taxation.

-Courtesy BC Assessment

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