Property values are on the upswing in Prince George.
According to the figures released at the start of the new year by BC Assessment, property values within the Prince George assessment area increased by $586 million to more than $17 billion this year.
"Most homes in the area are worth more in value compared to last year's assessment roll," said deputy assessor in the north region Geoff Radtke.
Assessments are the estimate of a property's market value as of July 1, 2014 and its physical condition as of Oct. 31, 2014.
Most homeowners could see changes up to 15 per cent, he said.
The average assessed value for a single family residential property in Prince George has increased from $242,000 to $251,000.
In total, residential properties went up 3.84 per cent in assessed value, while commercial properties increased by 2.42 per cent.
The city's highest valued home is in College Heights, a St. Denis Place residence worth $1.7 million. This puts it at No. 3 on the list of the north's top valued residences behind acreages in rural Fort St. John and Dawson Creek, valued at $3.2 million and $2.5 million, respectively.
Property owners can appeal their assessment if they feel it doesn't properly reflect market value by contacting BC Assessment. Notice of complaints must be received by Feb. 2 for an independent review to be conducted.
The Prince George assessment office (at 200-1488 Fourth Ave.) is open 8:30 a.m. to 5 p.m., Monday through Friday and online at www.bcassessment.ca.
