Property values in Prince George were on the rise in 2015, according to the latest figures by B.C. Assessment.
The 2016 notices are in the mail and, according to the assessment authority, the market value of an average single-family home in Prince George increased by six per cent.
"The majority of residential homeowners within the region can expect a slight increase, compared to last year's assessment," deputy assessor David Keough, said in a press release. Most northern B.C. homeowners and commercial and light industrial property owners would see increases of up to 10 per cent, he added.
Assessments are the estimate of a property's market value as of July 1, 2015 and their physical condition as of Oct. 31, 2015. The changes reflect movement in the local real estate market.
Communities with the largest changes include Fraser Lake (19 per cent decrease), Granisle (30 per cent decrease), Prince Rupert (13 per cent increase), Taylor (16 per cent increase) and Tumbler Ridge (34 per cent decrease). Williams Lake was the only community not to register any market value change for single-family homes.
The highest-valued Prince George residences on this year's roll are a $1.625 million waterfront property on Chief Lake Road, a $1.53 million home on St. Dennis Place in College Heights and a $1.359 million property on Cranbrook Hill on Kueng Road. The most-expensive in the northern B.C. region was a Bella Coola home valued at $2.945 million.
Property owners who feel their homes have been incorrectly appraised can appeal the assessment before Feb. 1.
