Northern BC property owners will soon find out what their home is worth.
The BC Assessment Office says the 2018 notices, which reflect market value as of July 1, 2017, are in the mail.
Deputy Assessor David Keough says the majority of the residential home owners in the north can expect a slight increase compared to last year’s assessment. He says most of the properties will vary between -5% and +5%.
Keough says there are some notable exceptions: Granisle saw the market value of a single family home jump in the range of 30%, while the District of Kitimat saw a decline in the range of 20%.
Overall, the Northern BC region’s total assessments increased from $60.3 billion in 2017 to $61.8 billion this year. Approximately $1.5 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.
BC Assessment says property owners that have concerns about their assessment value or notice errors should contact their local office as soon as possible.
