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In the next few days, BC Assessment will be mailing out its 2019 property assessments — if you can't wait to find out the assessed value of your property, assessments are available online.
The assessed values reflect market value as of July 1, 2018.
CORRECTION: 11:05 a.m.
In its earlier story, Castanet shared property assessment values from July 1, 2017.
This has now been corrected.
"The majority of residential homeowners within the Okanagan can expect a +5% to +15% change compared to last year's assessment," says Thompson Okanagan Assessor Katrina LeNoury. "Local communities and individual housing may experience changes greater or lesser than the average, as market values are based on local market demand and conditions."
In the North Okanagan, Spallumcheen saw the greatest increase in property assessments up 18 per cent from 2018.
The assessed value of strata homes in Vernon rose 14 per cent, while single-family residential properties rose by 8 per cent.
Throughout BC, the total number of properties on the 2019 Roll is up 1.07% from 2018 to approximately 2,067,479, with an assessed value of more than $1.99 trillion, an increase of nearly 7.45 per cent from 2018.
ORIGINAL: 9:22 a.m.
Information provided below is from the previous year's property assessments.
There are more than 227,000 properties throughout the Okanagan region.
"The majority of residential homeowners within the region can expect a moderate increase compared to last year's assessment," says Deputy Assessor Tracy Wall. "Some properties in our region were impacted by spring floods or summer wildfires. The local BC Assessment staff have identified most of these properties to ensure they receive an accurate assessment. It is still possible that some properties may still need to be reviewed, so owners may want to contact our office for more information if they have not already been contacted."
In the North Okanagan, Enderby saw the greatest increase in property assessments up 16 per cent from 2017; that was followed by Lumby at 15 per cent and Coldstream at 14 per cent.
In Vernon, property assessments rose 11 per cent and 12 per cent for stratas.
In the Okanagan, Lake Country, Kelowna and Osoyoos all saw a 17 per cent increase in assessed property.
"Property owners can find a lot of information on our website including answers to many assessment-related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2017 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January," says Wall.
"If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by January 31st, for an independent review by a Property Assessment Review Panel," adds Wall.
Throughout BC, the total number of properties on the 2018 Roll is up 1.17% from 2017 to approximately 2,044,482, with an assessed value of more than $1.86 trillion, an increase of nearly 12 per cent from 2017.
