They say few things are as reliable in life as death and taxes. True to form, Okanagan homeowners can expect property assessment notices in the mail in the next few days. How the value of your home has changed may depend on where you live. BC Assessment says they’ve seen increases this year in the commuter corridor between Penticton, Vernon and Kelowna.
“Typical value changes in these regions are between zero and 10 per cent. In the Central Okanagan it is very typical to see changes in the five to 10 per cent range so we are seeing some increases of values for single family residential proprieties in those communities,” says deputy assessor Jason Sowinski.
However, it’s a different story for those elsewhere in the region.
“Outside of the Central Okanagan area, Penticton and Vernon values are more or less stable,” says Sowinski. “ So if you look at a typical house in Lumby for example that was valued at about $225,000 this year you would see a value of $223,000 or $222,000 now so values are very stable.”
The Okanagan home with the highest assessed value is in Kelowna and worth over $10.8 million.
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