The South Okanagan’s Assessment Roll decreased from $19,636,475,825 last year to $19,516,491,502 this year. The 2014 assessment roll includes $217,229,016 for subdivisions, rezoning and new construction.
The examples below demonstrate local market trends for residential properties by a geographic area; trends are affected by many variables.
|
Jurisdiction |
2013 Assessment Roll |
2014 Completed Assessment Roll |
| Grand Forks |
$206,000 |
$199,000 |
| Greenwood |
$126,000 |
$125,000 |
| Penticton |
$374,000 |
$372,000 |
| Penticton (strata) |
$222,000 |
$217,000 |
| Summerland |
$417,000 |
$419,000 |
| Keremeos |
$241,000 |
$225,000 |
| Midway |
$189,000 |
$178,000 |
| Oliver |
$303,000 |
$300,000 |
| Osoyoos |
$369,000 |
$364,000 |
| Princeton |
$214,000 |
$204,000 |
In addition, owners of commercial and industrial properties in the South Okanagan will see changes ranging from +5% to -10%.
Property owners who feel that their property assessment does not reflect market value as of July 1, 2013 or see incorrect information on their notice should contact BC Assessment as indicated on their notice as soon as possible in January.
- Nearly two million property owners will receive their 2014 property assessment notice by mail in early January.
- Starting in January, the public can use the free e-valueBC search tool on BC Assessment’s website to compare their property assessment to others.
- The mandate of BC Assessment, a provincial Crown corporation, is to establish and maintain uniform real property assessments throughout British Columbia in accordance with the Assessment Act.
- The Act requires that BC Assessment produce annual rolls with assessments at market value (estimated valuation date as of July 1, 2013 for market value properties).
More Information: Website: www.bcassessment.ca