Property assessments in the Bulkley Valley and Lakes District have seen a notable increase, according to the latest figures from BC Assessment. These updated valuations reflect market conditions as of July 1st, 2025, and have been mailed to homeowners, with online access also available.
Key Takeaways
- Property assessments in the Bulkley Valley and Lakes District have generally increased.
- Granisle experienced the largest percentage jump at 12 percent.
- Smithers continues to hold the highest property values in the region.
- The North Central real estate market is described as stable.
Assessment Increases by Community
Granisle saw the most significant rise in property values, with a 12 percent increase. The typical assessed value in Granisle is now $113,000, up from $102,000 in the previous year. Hazelton and Telkwa also experienced substantial growth, with both communities recording a 10 percent increase in property values. Hazelton's typical assessment is now $293,000, while Telkwa's has reached $478,000.
New Hazelton's property assessments climbed by 8 percent, moving from $223,000 last year to $241,000. Smithers, which consistently boasts the highest property values in the area, saw a 4 percent increase, bringing its typical assessed value to $527,000.
Burns Lake recorded the smallest increase in the region, with a 3 percent rise in property values. The typical assessed value in Burns Lake is now $273,000.
Market Stability and Appeal Process
Jarret Krantz, Deputy Assessor for BC Assessment, commented on the market trends, stating, "The North Central real estate market remains stable which is being reflected in the 2026 property assessments." He further noted that "Most homeowners can generally expect value changes in the range of -5% to +15% with some exceptions depending on the community."
Homeowners who have concerns about their property assessment after reviewing the mailed notices or checking online can initiate an appeal. If a property owner remains concerned after speaking with an appraiser, they have the option to submit a Notice of Complaint (Appeal) by February 2nd. This will trigger an independent review by a Property Assessment Review Panel.
Regional Assessment Totals
Across North Central BC, the total property assessments have seen an upward trend. The aggregate value increased from over $99.8 billion in 2025 to approximately $104.7 billion this year, indicating a healthy growth in the region's real estate market.
