Kamloops property values rise in 2013 | iNFOnews | Thompson-Okanagan's News Source

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Kamloops property values rise in 2013

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January 02, 2013 - 4:59 PM

Kamloops property values are slightly up this year after the first decline in over a decade in 2012.

"You never know if that's the start of a trend," said Graham Held, deputy assessor for B.C. Assessment in Kamloops. "In this case it wasn't."

B.C. Assessment has issued 2013 property assessments for over 34,000 Kamloops properties revealing an increase in the assessment roll from $13.66 billion last year to $13.88 billion this year. Residential properties went up about 0.93 per cent while business and other properties went up about 3.92 per cent.

About $172.88 million was added to Kamloops assessments this year in new subdivisions, rezoning and new construction.

"We've seen stability in the market," Held said.

He said the market is stable not only in Kamloops, but throughout the region.

Residential properties in Barriere went up 1.67 per cent while business and other properties went up 3.99 per cent. Residential properties in Merritt went down 0.26 per cent while business and other properties went up 3.16 per cent. Sun Peaks residential properties went down 0.60 per cent while business and other properties went up by 0.43 per cent.

"All of the smaller communities," he added. "We had a really tight range."

Held said most Kamloops homeowners will see assessment changes ranging from minus five per cent to about five per cent.

Broken down by jurisdiction, Sahali, South Sahali, Westmount and Bachelor Heights, Juniper Heights, and Barnhartvale saw an increase from 2012 to 2013 while the North Shore, Valleyview, Aberdeen and Dufferin, and Westsyde saw a decrease.

Barnhartvale saw the greatest change increasing from $346,849 in 2012 to $368,190 in 2013.

"There are about 1,200 properties up in Barnhartvale and that's just what the sales were telling us," Held said.

Property owners confused or concerned by their assessments may call toll free at 1-866-825-8322. For those wishing for a review by the Property Assessment Review Panel, appeals must be submitted by Jan. 31.

Held said residents should visit www.bcassessment.ca to access online resources that will help them research their own properties.

"It does have an impact on property taxes," he said.

"At the end of the day I really want folks to take a good look at their assessment and feel that they're comfortable with it."

— Jessica Wallace

News from © iNFOnews, 2013

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