The value of a single-family home in Prince George remained on the upswing, according to B.C. Assessment numbers issued Tuesday.
As of midway through 2016, the average stood at $286,000, up 6.3 per cent or $18,000 from the same point in 2015. The totals put the city among the upper echelons of northern B.C. communities in terms of both average price and increase, both fifth highest among the 34 accounted for.
Despite a 4.4-per-cent decrease, Fort St. John remained the priciest at $387,000 while Houston witnessed the largest percentage increase at 10.6 per cent, raising the average value there to $160,000. The least expensive was Granisle at $42,000 while Northern Rockies Regional Municipality saw the largest drop, at 48-per-cent to an average price of $179,000.
Several Prince George-area properties made B.C. Assessment's 100 most valuable properties in northern B.C. Tops in the area and no. 5 overall was a 21000-block Chief Lake Road acreage worth $1.74 million, followed at no. 6 by a 7700-block St. Dennis Place home valued at $1.71 million.
At $2.74 million, a rural Fort St. John property topped the list. The vast majority of properties on the list are in Fort St. John and area.
The values provide the basis by which municipalities distribute their property tax levies. A 6.3 per cent increase in the average price won't necessarily translate into a 6.3 per cent increase in the amount of property tax the average homeowner will pay.
Past practice has been for the city to set a rate that will see an increase in the bill for the owner of an average-value home equal to the increase in the total levy. Last year, it was a 3.2 per cent increase although the value of the average home rose six per cent. The city has not yet entered budget discussions for 2017.
Owners will receive notices stating the values of their respective properties in the next few days.
More details can be found at bcassessment.ca where the website provides access to a free online e-valueBC services that allows anyone to search, check and compare assessments anywhere in the province.
And an appeal process is in place for property owners who disagree with the totals. Those who do are urged to contact B.C. Assessment as soon as possible - the deadline for filing a complaint is Jan. 31. From there, the matters are taken before an a review by a panel independent of B.C. Assessment, typically between Feb. 1 and March 15.
The Prince George office is located on the second floor the Scotiabank building at Fourth Avenue and Victoria Street. B.C. Assessment can be contacted toll-free 1-866-825-8322.
