Many homeowners to see assessment increase

Many homeowners to see assessment increase

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Many single family homes in Oliver will see an increase in their assessments this year. (File photo)

Many Oliver homeowners can expect an increase in their property assessments this year, according to BC Assessment.

“The majority of residential homeowners within the region can expect an increase in value ranging from 0 to 30 per cent, compared to last year’s assessment,” said Deputy Assessor Tracy Wall.

The highest increases are in the Central Okanagan with the City of Kelowna being at the peak, she noted.

In the next few days, owners of more than 212,000 properties throughout the Okanagan can expect to receive their 2017 assessment notices that reflect market value as of July 1, 2016.

In Oliver, a typical single family home valued at $312,800 has increased in value to $330,400 (up 5.6 per cent).

In Osoyoos, the average home valued at $371,200 has gone up in value by $35,500 to 406,700 (9.6 per cent).

Overall, the Okanagan’s total assessments increased from $89 billion in 2016 to $98 billion this year. A total of almost $1.7 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

BC Assessment’s website at bcassessment.ca includes more details about 2017 assessments, property information and trends such as lists of 2017’s top valued residential properties across the province. The website also provides self-service access to the free online e-valueBC service that allows anyone to search, check and compare 2017 property assessments anywhere in the province.

If property owners are concerned about their assessment after speaking to appraisers, they may submit a Notice of Complaint (appeal) by January 31 for an independent review by a Property Assessment Review Panel.

The Okanagan Region Assessment office is located at 300-1631 Dickson Avenue, Kelowna, BC, V1Y OB5.

During the month of January, office hours are 8:30 a.m. to 5 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcasssessment.ca

 

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