Vanderhoof 2017 property assessment up on average

The majority of residential home owners within the northern B.C. region can expect a slight increase, compared to last year’s assessment

“The majority of residential home owners within the northern B.C. region can expect a slight increase

Vanderhoof houses’ assessed value on average went up by 0.89 per cent this year, from $222,000 to $224,000, according to BC Assessment.

The most expensive property in the Nechako area is an acreage found by the water in Fort St. James, valued at $1,102,000.

On average, Fraser Lake’s residential properties decreased in value by 0.81 per cent from $125,000 to $124,000, and Fort St. James increased by 4.65 per cent from $164,000 to $172,000.

“The majority of residential home owners within the northern B.C. region can expect a slight increase, compared to last year’s assessment,” said deputy assessor David Keough in a statement. “Most home owners in the northern B.C. region will see changes in the zero to +10 per cent range.”

Owners of more than 246,000 properties across the North these weeks are receiving their 2017 assessment notices, which reflect properties’ market value as of July 1, 2016.

Homes in the Fort Nelson area decreased the most in value at 48 per cent, while Port Edward near Prince Rupert increased the most at 15 per cent.

Northern B.C.’s highest valued residential property is found in rural Fort St. John, an acreage worth $2,742,000. The Fort St. John area also has 76 of the 100 top valued homes in the North.

Commercially, while most property owners in northern B.C. also see an increase between zero to to 10 per cent, some communities like Valemount saw vacant commercial land rose in value by 50 per cent or decrease by 25 per cent in the Fort Nelson area.

Communities with changes also outside the range include: Kitimat -10%, Masset +16%, Port Clements -11%, Queen Charlotte +19%, and Stewart +15%.

Overall, total assessments of northern B.C. increased by 1.9 per cent from $59.2 billion to $60.3 billion this year. Close to $800 million came from new construction, subdivisions, and rezoning of properties.

The Northern B.C. assessment region covers 70 per cent of the province: east to the Alberta border, north to Yukon border, west to Bella Coola and Haida Gwaii, and south to just north of Clinton.

Owners who feel that their assessment doesn’t reflect market value as of July 1 last year or see incorrect information are advised to contact BC Assessment as soon as possible in January.

“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 Jan. 31st, for an independent review by a Property Assessment Review Panel,” Keough said.

The Property Assessment Review Panels, independent of BC Assessment, typically meet between February 1 and March 15 to hear formal complaints.

The nearest Northern BC Region Assessment office is located in Prince George at #200-1488 4th Ave.