Property Assessments Take Big Jump in Kitimat -- and a More Modest Rise Elsewhere in the Northwest

Property assessments for 2019 are being mailed out this week, and for virtually all of Northwestern BC, the numbers are up -- in some cases, substantially.

Leading the way is Kitimat, which saw an average increase of 20 per cent for a single family home.

This follows on the heels of a 16.2 per cent drop in last year's assessments.

The numbers likely indicate market speculation in a positive investment decision by LNG Canada, although the assessments actually reflect market value as of July 1st of last year, which was three months before the final green light was given.

Deputy Assessor Jarret Krantz says there were several factors that contributed to the large increase.

Other Northwest BC communities saw more modest increases.

In Terrace, the average price for a single family home rose nine per cent, to 312-thousand dollars.  

That's the highest average house price for any community in the northwest.

In Prince Rupert, average home prices rose by a very modest one percent -- while in neighbouring Port Edward, they increased four per cent.

In the Bulkley Valley and Lakes District, the average price of a single-family dwelling increased by one per cent in Smithers -- by eight per cent in Telkwa -- and by two per cent in Houston.

The largest increase in the region was in Burns Lake, where prices rose an average of 13 per cent. 

But at just under 149-thousand, a single-family house is still a bargain in the village. 

Elsewhere around the region, home prices in Hazelton jumped by an average of seven per cent, while in New Hazelton, they edged up one per cent.

And in Stewart, the average assessment was up 13 per cent.  

Property assessments don't necessarily mean your municipal taxes will go up by the same percentage -- tax rates are set by local governments.

[Reported by Brittany Webster] 

 

(Information below supplied by BC Assessment https://www.bcassessment.ca/ )

Community

2018 Average

Assessment

 

2019 Average

Assessment

 

%

Change

 

 

Burns Lake

$131,600

$148,900

+13%

Granisle

$55,900

$55,600

0%

Hazelton

$106,300

$114,350

+7%

Houston

$147,700

$150,600

+2%

Kitimat

$195,700

$235,300

+20%

Masset

$86,750

$97,900

+12%

New Hazelton

$109,600

$111,500

+1%

Port Clements

$63,050

$68,800

+9%

Port Edward

$188,750

$197,500

+4%

Prince Rupert

$264,300

$268,000

+1%

Queen Charlotte

$150,400

$167,300

+11%

Smithers

$283,000

$286,000

+1%

Stewart

$97,750

$110,800

+13%

Telkwa

$238,950

$257,800

+8%

Terrace

$286,050

$312,000

+9%