Most Kitimat home values rising by 25 to 30 per cent

BC Assessment says Kitimat's homes are for the most part worth more this year than last.

Most home owners in Kitimat will see a 25 to 30 per cent rise in their assessed value when they get their assessment notices in the next few days.

That’s according to Christopher Whyte, BC Assessment’s deputy assessor for the north region.

According to information from BC Assessment which came out today, Kitimat’s assessment roll increased from $965 million last year to $1.14 billion this year.

That change reflects market values, subdivisions and new construction and rezoning, according to BC Assessment’s release.

In the commercial and industrial property sector, owners will see changes ranging from five to 20 per cent.

To illustrate average market trends for residential properties, BC Assessment said a home valued at $152,082 last year would be worth $192,417.

As usual people who feel their property assessment does not reflect market value as of July 1, 2012, or see incorrect information, can contact the Assessment office indicated on their notice as soon as possible in January.

Those still concerned after speaking with an appraiser can submit a notice of complaint by January 31 for an independent review by a Property Assessment Review Panel.

Those Panels meet between February 1 and March 15.