As­sess­ments in Okana­gan 5-15% higher

The Daily Courier - - OKANAGAN - By Daily Courier Staff

The value of most Okana­gan homes has in­creased be­tween five and 15 per cent dur­ing the past year, BC As­sess­ment says.

By con­trast, some homes in the Metro Van­cou­ver area have dropped in value be­tween five and 10 per cent, the agency says.

“It’s a real mix in prop­erty value changes, but the mar­ket can best be summed up as show­ing signs of sta­bil­ity across most ar­eas of the prov­ince,” as­ses­sor Tina Ire­land said in a re­lease is­sued Thurs­day by BC As­sess­ment.

Home­own­ers will re­ceive the as­sess­ment no­tices, which play a key role in de­ter­min­ing how much mu­nic­i­pal tax they’ll pay, in early Jan­uary.

Last year, homes in Lake Coun­try had the high­est as­sess­ments of any re­gion in the Okana­gan.

A typ­i­cal sin­gle-fam­ily home in Lake Coun­try was as­sessed at $727,000, while in Kelowna the com­pa­ra­ble fig­ure was $725,000. A typ­i­cal strata home in Kelowna was as­sessed last year at $377,000.

Last year’s av­er­age sin­gle-fam­ily home as­sess­ments for other Okana­gan com­mu­ni­ties were: $682,000 in West Kelowna, $612,000 in Peach­land, $582,000 in Sum­mer­land, $502,000 in Pen­tic­ton and $493,000 in Ver­non.

The Okana­gan com­mu­nity where sin­gle-fam­ily homes had the low­est as­sessed value last year was Kere­meos, at $273,000.

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