The City of Prince George saw an increase in residential property values by 1.9% in the latest BC Assessment figures, while business properties surged by 7.4% and light industry by 12.6%. Rural areas surrounding Prince George also experienced growth, with residential properties increasing by 1.4%, business properties by 2.6%, and light industrial properties by 13.8%. The highest-assessed residential property in the North Central region is near Moberly Lake, while Prince George's highest-assessed property is worth just over $4 million.
The overall assessed value of residential buildings in the City of Prince George increased by 1.9 per cent in the latest figures from BC Assessment while business properties increased by 7.4 per cent and light industry by 12.6 per cent.
While the agency lists the top 500 assessed residential properties in the province, none of them are in Prince George. The typical assessed value of a single-family home in Prince George increased from $438,000 to $451,000, a rise of three per cent. The entire value of a property can be determined in one of four ways, which is chosen by BC Assessment based on the availability of data and the type of a property.
If we randomly select one of the homes near the westernmost end of St. Lawrence Avenue, we can see that it was worth $896,000 in 2024 and $895,000 in 2025. The data shows that the value of the land dropped from $223,000 to $199,000 while the value of the buildings went from $673,000 to $696,000, leading to a net decrease in value of $1,000.
The other portion of 505 Fourth Ave. to the west had a similar increase in value of 25 per cent from $1,048,000 in 2024 to $1,313,000 in 2025.On the property at 397 Third Ave., where the City of Prince George has built transitional housing for residents of Moccasin Flats, the assessed value has increased by two per cent from $631,000 to $643,000.
Down the road at 466 Second Ave., that property sold for $1.2 million. That’s slightly higher than the $1.192 million it was assessed at in 2024 and lower than its 2025 assessment of $1.38 million. BC has nine classes of properties: residential, utility, supportive housing, major industry, light industry, business, managed forest land, recreational and farm. The City of Prince George has tax rates set for properties in each of those categories.
Something else that will have an impact on property taxes in Prince George is the city’s annual budget and the tax change approved by city council. Three communities in the area, the districts of Kitimat, Houston and Stewart, saw no increase or decrease in the typical assessed value of a single-family home.
That includes $38.3 billion in value added from new construction, subdivisions and rezoning. Overall, BC Assessment said 99 per cent of British Columbians accepted their property assessments last year, meaning they didn’t appeal them. A property owner also must pay property taxes worth at least $350 to qualify for the grant. Applications can be submitted any time during a tax year, though the province says the best time to do so is after getting your assessment notice and before your property taxes are due.For property owners looking to appeal their latest assessments, there isn’t much time to do so. Notices of complaint with BC Assessment and the Property Assessment Review Panel must be filed by Jan. 31.
Property Values BC Assessment Prince George Real Estate Market Residential Properties
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