Most assessments up

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Property tax assessments are increasing in most areas of the Okanagan, although some could see modest decreases.

BC Assessment is now mailing out 2015 assessment notices and says in some cases increases will be as much as 10%.

The Central Okanagan will see a range of assessments, from unchanged to up by 10% for residential, commercial and industrial properties. A Kelowna home valued at $491,000 for tax purposes in 2014 will be assessed at $521,000 in 2015.

BC Assessment also provided other examples of tax value changes in the Central Okanagan from 2014 to 2015:

• Peachland - $430,000 to $461,000
• Lake Country - $494,000 to $519,000
• West Kelowna - $473,000 to $506,000

In the North Okanagan BC Assessment says changes will range from -5% to +10% for residential properties, while commercial and industrial properties could see increases of 5%. Typical examples show only two areas with decreases - Enderby and Lumby.

• Vernon $371,000 to $396,000
• Coldstream $488,000 to $516,000
• Armstrong $291,000 to $302,000
• Enderby $245,000 to $237,000
• Salmon Arm $317,000 to $326,000
• Spallucheen $331,000 to $332,000
• Sicamous $306,000 to $311,000
• Lumby $255,000 to $250,000

South Okanagan values will change by -5% to +5% for residences and -5% to +10% for commercial and industrial.

• Penticton - $370,000 to $383,000
• Summerland - $416,000 to $438,000
• Oliver - $298,000 to $314,000
• Osoyoos - $362,000 to $364,000