Property assessments are up across the board in the Cariboo this year.
The biggest hike by far though was in Williams Lake where BC Assessment says the price of the average single family home went up by 10 percent !
That means that the average home worth 381 thousand dollars in July of 2023 was worth 419 thousand dollars in July of 2024.
Assessments in Quesnel were up by 3 percent on average, from $329,000 TO $339,000, and the increase in the District of 100 Mile House is 4 percent, from $382,000 up to $397,000.
Teria Penner, a Deputy Assessor with BC Assessment, says anyone who disagrees with the value of their home or property can go online and get in touch with a representative.
“If after doing that we would encourage anybody to give us a call at 1-866-825-8322. We do have appraisers available online or by phone and they can contact us and work through those questions.”
Penner says the assessments do not reflect market conditions after July.
“These assessed values are based off of what the sales were doing around July 1st, 2024, so anything that is occurring in the market now is going to be outside of what BC Assessments are. We respond to the market is doing and what the sales are showing us.”
Overall, North Central BC’s total assessments increased from about $95.2 billion in 2024 to more than $99.8 billion this year.
A total of about $1.3 billion of the region’s updated assessments is from new construction, subdivisions, and the rezoning of properties.
Homeowners should be getting their assessments in the mail over the next few days.
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