Meanwhile some mining areas, which have been hit by a downturn in commodity demand and prices, have seen assessments fall with home values dropping as much as 36 per cent. Communities such as Trail and Fraser Lake are among the areas where prices have dropped in recent years.
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As homeowners receive their latest property assessments in British Columbia there is a widening of the gap between some parts of Vancouver and resource-dependent communities in northern parts of the province. In Metro Vancouver the sharp rise in home values means that around 55,000 will not receive the provincial homeowners grant as their homes are now valued above last year’s sliding threshold of between $1.1 million and $1.25 million. Detached home assessments of between 12 and 28 per cent have been reported by BC Assessment.