March 03, 2015 - 8:25 AM
OKANAGAN - If a Vernon home complete with its own theatre, library, and heli pad sells for the asking price — close to $8 million — it would become the third most expensive residential property in the Okanagan Valley.
But if you look the property up on B.C. Assessment, it doesn’t even make the top 100. While the house is on the market for $7.8 million, B.C. Assessment only has it valued at $2 million.
“Either the listing price is awfully high or there’s some data we just don’t have on the property,” deputy assessor Jason Sowinski says.
The Dixon Dam Road property features an 11,500 square foot custom built house, 807 square foot guest home, stables, a heated pool and a heli pad.
“There could be components of the structure we haven’t properly assessed,” Sowinski says. “We’ll flag this property for review and ensure our assessment is correct.”
If it does sell, B.C. Assessment will likely conduct an in depth study of the motivators between the purchaser and seller to see if components like furniture or other items were included in the sale.
According to the 2015 assessment roll, the top valued residential property in the Okanagan is worth $10.8 million and the second $8.4 million, both in Kelowna. Currently in third spot is a property in Lake Country worth $6.7 million, but if the Dixon Dam Road home sells for $7.8 million, it would take over third place.
The property was picked up and featured by the Huffington Post and B.C. Business.
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News from © InfoTel News Ltd, 2015