Property values have climbed in the North Okanagan.
In the next few days, property owners can expect to receive their 2017 assessment notices which reflect market value as of July 1, 2016.
“The majority of residential home owners within the region can expect an increase in value ranging from zero to 30 per cent compared to last year’s assessment,” said Tracy Wall, deputy assessor.
In Vernon, a typical assessment climbed 7.6 per cent from $412,800 July 1, 2015 to $444,100 July 1, 2016. For a Vernon strata, the assessment climbed 5.4 per cent from $219,100 to $230,900.
For other North Okanagan communities, the typical 2017 assessment roll is:
Armstrong – $330,500 or a 5.9 per cent increase.
Enderby – $262,300 pr an 8.3 per cent increase
Coldstream – $581,300 or a 6.9 per cent increase
Spallumcheen – $374,000 or a 3.6 per cent increase
Lumby – $280,800 or a 5.8 per cent increase
Lake Country – $634,000 or a 16.3 per cent increase
“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, 2016 or see incorrect information on their notice, should contact B.C. Assessment as indicated on their notice as soon as possible in January,” said 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 Jan. 31 for an independent review by a property assessment review panel.”
