Three homes in Central Okanagan are worth more than $10M
There are now three Central Okanagan homes assessed at more than $10 million, up from two in 2019, according to the latest from B.C. Assessments.
Topping the list is a home at 12990 Pixton Rd. in Lake Country. It was assessed at $10,741,000, an increase of $487,000. That ranks it as the 447th most expensive home in B.C. but is well below the $12 million it was sold for on Aug. 30, 2019.
The B.C. Assessment website describes it as a two-storey house on 0.86 acres built in 2009 with five bedrooms and nine bathrooms and covering more than 13,000 square feet. The land is valued at $2.4 million and the home at $10.3 million.
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Even though it sold for $12 million, its assessment – which is what taxes are based on – is lower.
“We would look at the sale but we wouldn’t look at just one sale,” Tracy Wall, the Thompson Okanagan Region acting assessor for B.C. Assessment, told iNFOnews.ca last year. “We would look at all the sales of those high valued properties before we determined what the final assessment was. We try to set our roll at what we call the median or what similar properties are selling for. We like to be right up there with the sale prices but we aren’t always because we would consider that sale among many sales.”
There are numerous homes in the region that have either been listed for sale or actually sold for more than $10 million.
A home at 133 Ravine Dr. in Coldstream is listed for sale for almost $15 million but is assessed at a mere $6.6 million, 40th on the list of top 100.
Another at 10-180 Sheerwater Ct. in Kelowna, is listed for sale at $13 million and assessed at $8.2 million. That leaves it at 13 on the list of top 100.
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Number two on the B.C. Assessment list of most expensive homes in the region in 2020 was number one last year.
At 4358 Hobson Rd. in Kelowna, the home is valued at $10.6 million, up $346,000 from last year. It also makes the top 500 list at number 465.
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A property at 18250 Juniper Cove Rd. in Lake Country came in at $10.113 million. That’s an increase of $582,000 over its 2019 value but not enough to make it onto the province's top 500 list.
Out of the top 10 highest appraisals in the region, four are in Kelowna and three each in Lake Country and West Kelowna.
Only six of the top 100 properties in the entire Thompson-Okanagan are outside of the Central Okanagan, with four of those being in Coldstream and one each in Tappen and Summerland.
The house with the highest assessed value in B.C. is at 3085 Point Grey Rd. in Vancouver, coming in at $66.8 million. One property, listed simply as James Island, is ranked number one on Vancouver Island at $57.9 million.
The Thompson-Okanagan top 100 list can be seen here.
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