News

Assessments vary throughout the valley

At least one politician believes lower property values could be beneficial economically.

North Okanagan residents began receiving B.C. Assessment 2014 notices Thursday and assessments remain relatively unchanged in most communities, with the biggest drop being in Lumby.

“I hope it attracts more young families to move here,” said Mayor Kevin Acton when told the assessment of the average residence in the village has gone from $260,000 in 2013 to $256,000 in 2014.

“Our housing is still affordable and we have a huge amount of amenities out there.”

Overall, the North Okanagan’s assessment roll (which includes Salmon Arm, Sicamous and Revelstoke) decreased from $26,560,852,199 last year to $26,221,360,408 in 2014.

Acton isn’t surprised that North Okanagan property assessments have remained stable or decreased slightly.

“It’s a sign of the economy.”

In Vernon, the assessed value of the average home in Vernon has gone from $374,000 in 2013 to $373,000 in 2014, while it’s gone from $184,000 to $173,000 for a strata unit.

“I don’t read anything into the B.C. Assessment rolls,” said Bob Spiers, a Vernon councillor. “They are relatively same across the province and it doesn’t impact our tax base dramatically.”

Spiers says assessments won’t influence the city’s budget or any possible tax increase in 2014.

“We come up with what we need and what ever the tax base is, we tax accordingly,” he said.

In Armstrong, the assessment for an average home has gone from $293,000 to $291,000 while Spallumcheen has remained unchanged at $332,000 from 2013 to 2014. In Enderby, the assessment has climbed from $242,000 to $246,000.

The biggest residential increase was in Coldstream — from $480,000 in 2013 to $493,000 in 2014.

Owners of commercial and industrial properties in the North Okanagan will see changes ranging from plus 10 per cent to minus 10 per cent.

“Property owners who feel their property assessment does not reflect market value as of July 1, 2013 or see incorrect information on their notice should contact B.C. Assessment as soon as possible,” said Tracy Wall, B.C. Assessment deputy assessor.

“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a notice of complaint by Jan. 31 for an independent review by a property assessment review panel.”

 

 

 

 

 

 

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Railway future still uncertain
 
Welcome mat rolled out
 
Reel Reviews: Fury rides into horrors of war
Soldier killed in Parliament Hill siege
 
UPDATE: B.C. legislature to get security scanner
 
Security stepped up in B.C. after attacks in Ottawa
Penticton rolls out the red carpet for WestJet
 
Diverse group of panelists discuss potential pros and cons of LNG in Prince Rupert
 
City of Prince Rupert to apply for intervenor status in Enbridge review

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 22 edition online now. Browse the archives.