PRINCE GEORGE — Property assessments are out and in Prince George they’re down three percent year-over-year to an average of $438,000 for a single-family home.
BC Assessment says the assessments reflect market value as of July 1, 2023.
“Most North Central homeowners can generally expect to see assessment changes in the range of -10 percent to + 10 percent when they receive their notices in early January, but with some exceptions depending on the community,” says North Central BC Deputy Assessor Teria Penner.
“Compared to previous years, the region’s real estate market has mostly softened and that is reflected with the 2024 property assessments.”
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.
In communities outside Prince George like Quesnel, there was no change with the average single-family home assessed at $330,000. In Vanderhoof, assessments dropped two percent to an average assessment of $319,000.
But in Mackenzie assessments were up 8 percent to an average assessment of $179,000 and in Fort St. James assessments went up four percent to an average assessment of $207,000.
The highest assessed property in North Central B.C. was located in Dawson Creek and is located at 6653 Lakeshore Drive Moberly Lake. It was assessed at $4,572,000. The second highest assessed property was located in Prince George at $3,252,000 and is located at 7765 St. Dennis Place.
