In the next few days, property owners in northern B.C. will receive their 2023 assessment notices in the mail.
About 250,000 properties throughout northern B.C. can expect to receive their notices which reflect market value as of July 1, 2022.
“Most northern home owners can generally expect to see a rise of about 5 per cent to 20 per cent in their assessments when they receive their notices in early January, but with some exceptions depending on the community,” said Northern BC Deputy Assessor Teria Penner.
“I want to emphasize that assessments are based on July 1st, 2022. While the local real estate market has seen some shifts, it is important to compare your assessment with similar properties that sold around July 1st.”
Overall, Northern BC’s total assessments increased from about $81.5 billion in 2022 to over $90.6 billion this year. A total of about $1.06 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties.
The Northern BC region encompasses approximately 70 per cent of the province: stretching east to the Alberta border, north to the Yukon border, west to Bella Coola including Haida Gwaii and to the south, just north of Clinton.
Prince George specifically saw a 12 per cent increase with the typical assessed value for single family residential properties as of July 1 2021 being $401,000 and as of July 1, 2022 it was $450,000.
Whereas Fort St. John saw a four per cent increase with the typical assessed value as of July 1 2021 being $329,000 and as of July 1, 2022 it was $343,000.
And Dawson Creek saw a seven per cent increase with the typical assessed value as of July 1 2021 being $261,000 and as of July 1, 2022 it was $280,000.
The market trends for strata residential properties, like condos or townhouses, also saw increases.
Prince George saw a 13 per cent increase with the typical assessed value as of July 1 2021 being $219,000 and as of July 1, 2022 it was $248,000.
Whereas Fort St. John saw a three per cent increase with the typical assessed value as of July 1 2021 being $196,000 and as of July 1, 2022 it was $201,000.
And Dawson Creek saw an 11 per cent increase with with the typical assessed value as of July 1 2021 being $193,000 and as of July 1, 2022 it was $214,000.
BC Assessment’s website at bcassessment.ca includes also includes more details about 2023 assessments, property information and trends such as lists of 2023’s top valued residential properties across the province.
The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2023 property assessments for anywhere in the province.
“Property owners can find a lot of valuable information on our website including answers to many assessment-related questions, and those who feel that their property assessment does not reflect market value as of July 1, 2022 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Deputy Assessor Teria Penner.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by January 31st, for an independent review by a Property Assessment Review Panel,” adds Penner.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between February 1 and March 15 to hear formal complaints.
"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," explains Penner. "As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes."