Editor's Note -- For BC Assessment Authority's Northern BC Region where the Districts of Wells/100 Mile House; the Cities of Williams Lake/Quesnel and the Cariboo Regional District's 12 Electoral Areas are located -- they advise a preliminary look at the 2020 Property Assessment Roll suggests for example in the City of Williams Lake -- residential/condo properties will see property assessments range between no increases to 10% increases while commercial properties will see either no increases to 15% increases. This data is preliminary until the confirmed 2020 Property Assessment Roll is released on Thursday, January 2nd, 2020
Many soon-to-be released property assessments will show a moderating market, with more modest changes in property values compared to previous years based on trends in the real estate market as of July 1, 2019.
"We first saw signs of moderation during the 2019 property assessments," says Assessor Tina Ireland. "For 2020 assessments, we are seeing a continued ripple effect of a moderating market expanding across the province."
| Northern BC Region | Residential | Condo | Commercial | Industrial |
| Prince George | 0% to +10% | 0% to +10% | +15% to +30% | +15% to +30% |
| Williams Lake | 0% to +10% | 0% to +10% | +0% to +15% | 0% to +15% |
| Dawson Creek | -5% to +5% | -5% to +5% | +5% to +15% | 0% to +15% |
| Terrace | +15% to +25% | +10% to +20% | +30% to +50% | +5% to +10% |
*All numbers are preliminary projections only and are subject to change. The final numbers will be released on January 2, 2020.
All British Columbia property owners will receive their annual property assessment notice in early January 2020. However, to make sure property assessments are fair, they are all calculated based on the same date of July 1st every year.
"When properties similar to your property are sold around July 1, those sales prices are used to calculate your assessed value," explains Ireland. "Our job is to make sure your assessment is fair and accurate as compared to your neighbours."
During December, BC Assessment is providing notification letters to property owners whose assessments are changing significantly more than the average change.
The contents of this news release is based preliminary information only and subject to change when all confirmed 2020 property assessment information is finalized and released on January 2, 2020.
Visit bcassessment.ca on January 2 to access a variety of 2020 assessment information including searching and comparing 2020 property assessments as well as market movement trends.
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