The value of single-family homes increased by four per cent in 100 Mile House during 2024.
According to the newly released BC 2025 Property Assessments, the value of a single-family home in 100 Mile House increased from an average value of $382,000 as of July 2023 to $397,000 as of July 2024. For comparison, the value of single-family homes in Williams Lake went from $381,000 to $419,000 in the same time period, representing an increase of over 10 per cent.
"Most North Central homeowners can generally expect to see assessment changes in the range of approximately negative five per cent to plus 10 per cent when they check their updated 2025 values with some exceptions depending on the community," Deputy Assessor Teria Penner said. "Arrival in the mail of 2025 Assessment Notices might be delayed due to ongoing Canada Post backlogs, but 2025 values are readily available at bcassessment.ca, using our online property search service."
In Clinton single-family homes increased in value by an average of five per cent from $223,00 to $234,000. Meanwhile across Williams Lake Rural, which most of the South Cariboo is included under, increased by an average of 3.2 per cent.
The 2025 property assessments, based on data from July 1, 2024, were released on Thursday, Jan. 2 and included new values for over 250,000 properties throughout North Central BC. According to the report, the overall value of homes in North Central B.C. increased from $95.2 billion in 2024 to $99.8 billion this year. Approximately $1.3 billion of the region's updated assessment is based on new construction, subdivisions and the rezoning of properties.
Roughly a dozen acreages in Sheridan Lake, Green Lake and 70 Mile House were listed in the top 100 most-valued properties of North Central B.C., with values ranging from $1.6 million to just under $2.5 million.
Throughout B.C. the total value of real estate is estimated to be $2.83 trillion, a 1.5 per cent increase compared to 2024 based on 2,207,009 properties assessed province-wide.
Penner encourages property owners to check their assessments online, noting the BC Assessment website allows them to search, check and compare 2025 property assessments from anywhere in the province for free. She further added that if they sign up for a free account they can check the 10-year history of a property's value, create comparisons and monitor neighbourhood sales.
"Property owners can find 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, 2024 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January," Penner remarked.
"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 Jan. 31, for an independent review by a Property Assessment Review Panel."
These panels typically are appointed annually by the provincial government and will meet between Feb. 1 to March 15 to hear any formal complaints. Penner noted it is important to keep in mind an increase in property value will not always lead to an increase in property taxes.
"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," Penner said. "As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes."
Anyone with questions about this year's assessments is invited to call 1-866-valueBC (1-866-825-8322) or go online at bcassessment.ca. During the month of January, hours of operation are 8:30 a.m. to 5:00 p.m., Monday to Friday.
