Kamloops property taxes jump by 9.55% | iNFOnews | Thompson-Okanagan's News Source

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Kamloops News

Kamloops property taxes jump by 9.55%

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Property owners in Kamloops will be faced with a higher tax bill this year.

The new rate was adopted at a May 14 meeting, where City council gave a unanimous approval to a 9.55 per cent tax increase.

That's down from what was initially floated to be an 11% increase until council cut some costs, but it is the largest increase in several years.

Property taxes were increased by 6.8% last year and 4.9% in 2022, with less than 4% increases in the previous three years.

The new rate for each home will vary, however, and property owners can check the City's tax estimator tool to get an idea of how much more they will be from last year.

According to the City's website, the assessed value of the average Kamloops home is $636,878, down from $644,095 in 2023.

Property taxes are due on July 2.

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