January 03, 2016 - 9:30 AM
KELOWNA - Thousands of local homeowners will find out tomorrow, Jan. 4, just how much the B.C. Assessment Authority thinks their house is worth.
That’s when the authority’s 2016 assessment rolls are made public and official assessments begin landing in some two million mailboxes across the province, spokesman Tim Morrison says.
Assessments are used by municipalities to determine individual property tax bills, more than $7 billion in property taxes across the province this year, and have been generally rising in Kelowna the last few years.
Kelowna saw an average increase of 5.56 per cent in 2015 and is likely to see something similar for 2016. The city drew $114.5 million from local taxpayers this year and hopes to draw $120 million in 2016.
B.C. Assessment Authority is a provincial crown corporation mandated to provide official property value estimates based on market and other information as of July 1 each year.
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News from © InfoTel News Ltd, 2016