View Top value properties between Terrace and Kitimat in a full screen map
The map above shows five of the top 100 valued properties according to BC Assessment for the north, which are located in either Terrace or Kitimat. Just one property on that list is in Kitimat.
The assessed values of properties in Kitimat continue their rise, as BC Assessment announces Kitimat’s assessment roll has gone up 29.51 per cent.
That’s across all classifications. (Residential and commercial.)
On average, a single-family residential property that in 2013 would have been assessed at $180,000 is now $228,000, or an increase of 26.67 per cent.
Only one other community in the northwest would see an increase in the 20 per cent range. New Hazelton rose 22.3 per cent, however their average assessed value is much lower than Kitimat’s. A home there at $88,000 would on average now be $108,000, $120,000 lower than a Kitimat home.
Most assessments in the region did go up, and the overall northwest region assessment roll increased from $7.669 billion to $8.595 billion this year.
The City of Terrace rose 10.91 per cent. An average home of $220,000 in 2013 would now be valued $244,000.
The City of Prince Rupert rose 8.89 per cent.
There were some drops however. The District of Stewart dropped 6.33 per cent, from a $79,000 average home price to $74,000.
The Village of Queen Charlotte fell 2.38 per cent, and the Village of Masset dropped 2.04 per cent.
The District of Port Edward went down 4.55 per cent, and the Village of Port Clements dropped 6.33 per cent.
Interestingly, the Village of Hazelton saw absolutely no shift in their assessments.
As usual home owners can appeal their assessment roll.
“Property owners who feel that their property assessment does not reflect market value as of July 1, 2013 or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January, said deputy assessor Christopher Whyte.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers they may submit a Notice of Complaint by January 31 for an independent review by a Property Assessment Review Panel,” he added.
Those panels will be meeting between February 1 and March 15.
Property owners can call BC Assessment at 1-866-825-8322 for more information.