PG property assessments rise by 3% in 2025

Homeowners in Prince George can expect to see their 2025 assessment notices in the next few days.

According to BC Assessment, the typical value of single-family homes in the city for this year is $451,000, a three percent spike when compared to 2024 ($438,000).

Deputy Assessor, Teria Penner told MyPGNow.com anyone who disagrees with the value of their home or property can go online and get in touch with a representative.

“If after doing that, we would encourage anybody to give us a call at 1-866-825-8322. We do have appraisers available online or by phone that they can contact us and work through those questions.”

“These assessed values are based on what the sales are doing around July 1st, 2024. Anything that is occurring in the market now is going to be outside what BC Assessment values are – we respond to what the market is doing and what the sales are showing us.”

Anyone who wishes to submit an appeal regarding their assessment has until January 31st to file.

In terms of Strata homes, which are often described as condos or townhouses, the assessed value for 2025 is $265,000, a five percent uptick from last year when the mark was $252,000.

Most homeowners across the north can expect assessment changes in the -5% or +10% range depending on where they live.

“It depends on where the markets are and where the demand for the properties is. It’s going to be the sales and where people are looking to purchase their properties which is dictating what these values are,” added Penner.

For example, rural communities like Valemount saw a 5% drop in assessed property values compared to the previous year while places like Burns Lake (+19%), Tumbler Ridge (+13%), Terrace (condos) (+11%) and, Williams Lake (condos) (+11%) saw the biggest gains.

Overall, North Central BC’s total assessments increased from about $95.2 billion in 2024 to over $99.8 billion this year.

A total of about $1.3 billion of the region’s updated assessments is from new construction, subdivisions, and the rezoning of properties.

The top-valued property in Prince George is 4205 Cowart Road at $4.006 million dollars.

Here is the full list of the top 10 properties in Prince George:

• 4205 Cowart Road – 2.997 million dollars (Acreage)
• 7765 St. Dennis Place – 3.858 million dollars (Single-family)
• 7330 Gaetano Road – 2.846 million dollars (Acreage)
• 3985 Eva Places – 2.764 million dollars (Single-family)
• 2703 East Austin Road – 2.763 million dollars (Acreage)
• 21110 Chief Lake Road – 2.469 million dollars (Acreage)
• 7005 Dave Road – 2.359 million dollars (Acreage)
• 11560 Mauraen Drive  – 2.263 million dollars (Acreage)
• 21600 Blackwater Road – 2.261 million dollars (Acreage)
• 6700 Westmount Drive – 2.180 million dollars (Single-family)

A link to the release can be found here.