January 06, 2015 - 2:27 PM
VERNON – There’s an upward trend in the value of North Okanagan properties.
B.C. Assessment has released its 2015 assessment roll, which grew to $27,173,940,965, up 3.6 per cent from $26,221,360,408 in 2014.
A notable $393,000,000 was added to the roll through subdivisions, rezoning and new construction.
In the North Okanagan, the District of Coldstream boasted the highest assessment roll at $516,000, followed by Vernon at $396,000 and Spallumcheen at $332,000. A full breakdown of communities can be found here.
The owners of over 72,000 properties throughout the North Okanagan can expect to receive their 2015 assessment notices in the next few days.
“Most home owners in the North Okanagan will see modest changes in the -5 per cent to +10 per cent range,” deputy assessor Jason Sowinski said, adding owners of commercial and industrial properties will see similar changes.
Property owners who feel their assessment does not reflect market value as of July 1, 2014, or who see incorrect information on their notice should contact B.C. Assessment as indicated on their notice as soon as possible in January.
If you're still concerned about your assessment after speaking to an appraiser, you can submit a Notice of Complaint (Appeal) by Feb. 2 for an independent review by a Property Assessment Review Panel.
Visit B.C. Assessment’s website for more information.
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News from © InfoTel News Ltd, 2015