Assessed property values in the Robson Valley are decreasing by between eight and 15 per cent in 2012.

The overall decrease for homes in Valemount and McBride equates to about $15 million, with the assessment roll dropping to $172 million from $187 million last year, according to BC Assessment.

Most of the 1,280 property owners in the two communities will find the value of their homes is less compared to last year, stated Christopher Whyte, deputy assessor.

“This reduction reflects changing market values for many properties, but also includes subdivisions, rezoning and new construction,” a news release stated.

According to statistics from the Government of British Columbia, until 2011, property values were increasing in Valemount.

In 2007, the average house was worth $91,174. By 2008, that number had risen 35.3 per cent to $123,329. The following year saw less than a one-per-cent increase, with the average house value being $124,452. Then in 2010, the community had another large increase of 26.1 per cent, taking the average house value to $156,894.

In 2011, that number dropped to $146,711.

Homeowners should have received their assessments at the beginning of the month.

Property owners who feel their assessment doesn’t reflect market value as of July 1, 2011 should contact BC Assessment this month. Homeowners should also contact the assessment office if there is incorrect information on their notice.

If concerns remain after speaking with an appraiser, a property owner can appeal the assessment by submitting an official Notice of Complaint by Jan. 31. This would result in an independent review by a property assessment review panel that is appointed by the Ministry of Community, Sport and Cultural Development.

The panel meets between Feb. 1 and March 15 to hear formal complaints.

For more information about property assessments, visit bcassessment.ca or call the Prince George – North Region assessment office at 250-562-7215.