Homeowners across the Nechako Valley can expect to see their 2024 assessment notices in the next few days.
According to BC Assessment, the typical value of single-family homes in Vanderhoof this year is $319,000, a decline of two percent when compared to 2023 ($325,000).
Deputy Assessor, Teria Penner spoke with MyNechakoValleyNow.com.
“Keep in mind that our valuation date is July 1st of 2023. So, while markets may have changed since then or they continue to change, we will want to look at sales on or around that date and make sure that we are comparing the assessments to what the markets were doing over the summer.”
Just up the road in Fort Saint James, typical values for single-family-homes are listed at $207,000, up from $199,000 in 2023 – an uptick of 5%.
Lastly, Fraser Lake property assessments went down 5% when compared to 12 months earlier. The typical assesed value in 2024 is listed at $194,000, it was $204,000 in 2023.
Most homeowners across the north can expect assessment changes in the -10% or +10% range depending on where they live.
“It depends on where the markets are and where the demand for the properties is. It’s going to be the sales and where people are looking to purchase their properties which is dictating what these values are,” added Penner.
For example, communities such as Taylor and Prince Rupert each saw an 8% drop in assessed property values compared to the previous year while places like Granisle (+24%), Haida Gwaii (+22%), Tumbler Ridge (+19%) and Stewart (+14%) saw the biggest gains.
Overall, North Central BC’s total assessments increased from about $90.4 billion in 2023 to over $95.2 billion this year.
A total of about $1.72 billion of the region’s updated assessments is from new construction, subdivisions, and the rezoning of properties.
A link to the full release can be found here.
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