By CKPG Today

Property assessments

Property assessments up an average of 3% in Prince George

Jan 2, 2025 | 9:23 AM

PRINCE GEORGE — 2025 property assessments have been released.

The updated property assessments are now available at bcassessment.ca and will also be mailed out to homeowners.

Overall, North Central B.C.’s total assessments increased from about $95.2 billion in 2024 to over $99.8 billion this year.

In Prince George, single-family homes are up an average of 3% to $451,000.

Condos and townhouses are also up about 5% in Prince George at an average value of $265,000.

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“Property owners can find valuable information on our website including answers to many assessment-related questions, and those who feel that their property assessment does not reflect market value as of July 1, 2024 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Deputy Assessor Teria Penner.

“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 January 31st, for an independent review by a Property Assessment Review Panel,” adds Penner.

The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between February 1 and March 15 to hear formal complaints.

“It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes,” explains Penner. “As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”