BC Assessment uses sales of similar houses in the area to determine the assessed value of a home. (THE CANADIAN PRESS/Sean Kilpatrick)

BC Assessment uses sales of similar houses in the area to determine the assessed value of a home. (THE CANADIAN PRESS/Sean Kilpatrick)

Assessed home values rise by 32 per cent in Quesnel, 40 per cent in Wells

West Quesnel was the neighbourhood which saw the biggest increases

The average homeowner in Quesnel had the value of their property rise by over 30 per cent since last year, according to data released by BC Assessment.

Single Family Residential (SFR) homes in Quesnel had their assessed value increase by 32 per cent.

The values given by BC Assessment are as of July 1, 2021, and the changes are in comparison to July 1, 2020. Increases in the previous year were only five per cent.

READ MORE: Home Assessments up 5% in Quesnel

The median home in Quesnel is now worth $294,000, compared to $223,000 in July of 2020. Data is also provided by neighbourhood and for other kinds of homes.

To view your property’s assessment, visit bcassessment.ca. BC Assessment uses location, size, age of home and comparable sales to determine how much a property is worth.

“Property owners can find a lot of valuable information on our website including answers to many assessment-related questions, and those who feel that their property assessment does not reflect market value as of July 1, 2021, or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” Northern BC deputy assessor Beau Rossel said in a news release accompanying the data.

“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a notice of complaint (appeal) by January 31st, for an independent review by a Property Assessment Review Panel.”

West Quesnel and the Uplands in West Quesnel had their values increase the most, with SFR homes raising in value by over 38 per cent.

On North Fraser/Anderson Drive, the value of SFR homes went up by 32.8 per cent, South Quesnel by 31.9 per cent, the Johnston/Carson subdivisions by 23.3 per cent and North Quesnel by 28.6 per cent.

Rural Quesnel saw the value of SFR homes go up by 18.9 per cent. The North Fraser Drive to Bouchie Lake area saw increases of 26.3 per cent.

The District of Wells had increases of 40 per cent in SFR, the biggest across all of Northern B.C.

Nearly every area in northern B.C. had increases in property values, with only Taylor showing a decrease of four per cent. Kitimat saw no increase or decrease.

READ MORE: B.C. moving to ‘cooling-off period’ to stabilize hot real estate market

Do you have something to add to this story, or something else we should report on? Email: cassidy.dankochik@quesnelobserver.com


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cassidy.dankochik@quesnelobserver.com

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