By Korie Marshall
Property owners should have received their property assessments for 2014, and BC Assessment has released statistics by assessment area. Property values in the Prince George assessment area have increased overall, but not by much in most communities.
The average increase across all property classes in Valemount is 3.67 per cent, and in McBride is 0.07. The Districts of Mackenzie and Vanderhoof saw the biggest increases, at 12.5 and 7.85 per cent respectively, while Granisle and Fraser Lake properties dropped.
In Valemount, the average single family residential property increased by 1.32 per cent, while total residential properties increased by 5.18. Commercial properties increased by 1.77.
In McBride, single family residential saw no change, while total residential increased by 0.3 per cent. Commercial propertied dropped by 0.18.
Mackenzie had the highest increase in single family residential, at 19.2 per cent, followed by Burns Lake at 8.59 and Vanderhoof at 6.53. Fraser Lake and Granisle also saw no change, while Prince George and Fort St. James saw increases under 3 percent.
BC Assessment evaluates properties for the year based on their assessed market value as of July 1st and physical condition on October 1st of the previous year. Property owners who feel their assessment does not reflect market value should contact BC Assessment as soon as possible; you have until Jan. 31 to submit an appeal. The Review Panels are appointed annually by the Ministry of Community, Sport and Cultural Development, and meet in February and early March to hear complaints.
Municipal and provincial taxing authorities use BC Assessment rolls as the foundation to raise more than $6.2 billion in property taxes each year, but each municipality and tax authority will determine its own tax rates after its own budget needs.
Visit BC Assessment’s website for more information on the 2014 Assessment.
