Assessments up slightly in Prince Rupert and Port Edward
Home owners in Prince Rupert and Port Edward can expect a slight increase in the assessed value of their property for the coming year.
According to BC Assessment, most homeowners will see a modest increase of three to seven per cent in 2013 compared to 2012. Commercial and industrial property owners will see anywhere from a five per cent decline in assessed value to a five per cent increase, while business owners in Port Edward will see decreases ranging from five per cent to 10 per cent.
An example provided by BC Assessment based on market trends illustrates how a property assessed at $165,055 in Prince Rupert last year could be assessed at $177,048
The overall Assessment Roll for Prince Rupert will be increasing from 1.307 billion last year to 1.316 billion this year, while the Assessment Roll for Port Edward will jump from $70.6 million to $71.4 million.
In comparison, home owners in Terrace will see an increase between zero and five per cent and home owners in Kitimat will see their assessments jump from 25 per cent to 30 per cent.
Anyone who feels the assessed value doesn't reflect the true value of their property can call BC Assessment at 1-866-825-8322 or stop by the BC Assessment office at 4545 Lazelle Ave. in Terrace between 8:30 a.m. and five p.m. IF still unsatisfied, people can file an appeal by Jan. 31 for an independent review by the Property Assessment Review Panel.