Homeowners in Prince George and North Central B.C. can expect to receive their 2024 property assessments in the mail in the next few days, which reflect market value as of July 1, 2023.
According to BC Assessment, the typical value of single-family homes in the city for 2024 is $438,000, which is a drop of three per cent when compared to $450,000 in 2023.
Strata residential properties, which include condos and townhomes, saw an increase of one per cent as the 2024 assessed value is $252,000, up from $249,000.
“Most North Central home owners can generally expect to see assessment changes in the range of about -10% to +10% when they receive their notices in early January, but with some exceptions depending on the community," said 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 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.
The North Central BC region encompasses approximately 70% of the province, stretching east to the Alberta border, north to the Yukon border, and west to Bella Coola including Haida Gwaii and to the south, just north of Clinton.
BC Assessment's website at bcassessment.ca includes more details about 2024 assessments, property information and trends such as lists of 2024's top valued residential properties across the province.
