New construction driving property assessment increases in Dawson Creek, 2012 preview roll shows

The preview assessment roll, which was received earlier this month by the City of Dawson Creek, shows that overall assessment values increased by 5.93 per cent compared to 5.78 per cent for 2011.

The total residential assessment increased by $44.7 million, or 4.9 per cent compared to 2011. The average assessed value for a single family dwelling increased to $219,424 from $206,761 in 2011, or 6.12 per cent, and the number of folios (properties) increased by 33, or 0.76 per cent.

The total commercial assessment increased by $27.9 million, or 9.09 per cent, over 2011. The average commercial assessment increased to $344,709 from $310,589 in 2011, or 10.99 per cent, though the number of folios decreased by six, or 0.62 per cent.

New construction (non-market changes) made up nearly 70 per cent of the residential assessment increase and about 84 per cent of the commercial assessment increase compared to about 55 per cent and 48 per cent, respectively, in 2011.

Shelly Woolf, chief financial officer for the City of Dawson Creek, stated the data shows that assessment growth is strong and stable and that the investment climate is still positive in the city.

The final details on assessment changes are only available after Dec. 31 when the 2012 completed roll is received. The City of Dawson Creek will use that completed roll to set 2012 tax rates.