The value of single family homes in the Thompson Okanagan region has increased, according to statistics from BC Assessment. (Black Press file photo)

The value of single family homes in the Thompson Okanagan region has increased, according to statistics from BC Assessment. (Black Press file photo)

Housing values increase in Thompson Okanagan region

Highest increase is in Princeton with values rising by 17 per cent over past year

Property assessments are in the mail for B.C. homeowners.

BC Assessment has mailed its 2021 assessments to the owners of more than 283,500 properties throughout the Thompson Okanagan. The assessments reflect the market value as of July 1, 2020.

“For the Okanagan, the majority of homeowners can expect to see moderate value changes compared to last year,” said Tracy Wall, Okanagan area deputy assessor.

READ ALSO: Property values decrease in Penticton, rise elsewhere in South Okanagan Similkameen

READ ALSO: B.C. assessed home values to dip 2.5% in 2020

“Some of our smaller communities such as Keremeos, Princeton, Enderby and Lumby are seeing notably higher increases in residential values compared to last year.”

In the Thompson area, the majority of property owners will see assessments of zero to 10 per cent, said Tracy Shymko, Thompson area deputy assessor.

Throughout the Thompson and Okanagan region, total assessments increased from $152.8 billion in 2020 to $159.3 billion in 2021. A total of about $2.4 billion of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

Individual community assessments for single family homes are as follows:

  • Kelowna — three per cent increase, from $629,000 to $650,000
  • West Kelowna — four per cent increase, from $607,000 to $632,000
  • Lake Country —seven per cent increase, from $627,000 to $673,000
  • Penticton — two per cent increase, from $469,000 to $479,000
  • Keremeos — 11 per cent increase, from $275,000 to $304,000
  • Princeton — 17 per cent increase, from $215,000 to $252,000
  • Summerland — two per cent decrease, from $526,000 to $517,000
  • Oliver — seven per cent increase, from $389,000 to $416,000
  • Osoyoos — one per cent increase, from $429,000 to $433,000
  • Peachland — three per cent increase, from $573,000to $590,000
  • Enderby — 12 per cent increase, from $303,000 to $339,000
  • Armstrong — seven per cent increase, from $399,000 to $425,000
  • Vernon — three per cent increase, from $463,000 to $479,000
  • Coldstream — four per cent increase, from $581,000 to $606,000
  • Lumby — 13 per cent increase, from $340,000 to $384,000
  • Salmon Arm —three per cent increase, from $413,000 to $426,000
  • Spallumcheen — seven per cent increase, from $342,000 to $367,000
  • Sicamous — seven per cent increase, from of $298,000 to $318,000

Provincewide, there are 2,114,885 properties on the British Columbia assessment role, an increase of one per cent from the previous year. The value of real estate in British Columbia is $2.01 trillion, according to assessment figures. This is an increase of nearly 4.2 per cent from 2020.

Each year, real estate sales are used to determine property values throughout the province.

Property owners can compare their property values with others in the province by visiting bcassessment.ca and using Find Your Assessment. Information is also available under Property Information and Trends on the website.

To report a typo, email:
news@summerlandreview.com
.



news@summerlandreview.com

Like us on Facebook and follow us on Twitter.

Housing

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The City of Salmon Arm's budget for 2021 includes funding for design work for the renovation of the recreation centre. (File photo)
Covid funding helps Salmon Arm city council reduce tax increase for 2021

Roads to receive needed work this year, pool upgrade design to commence

Columbia Shuswap Regional District staff reviewed its policies around health and safety after an employee tested positive for COVID-19. (File photo)
CSRD reviews COVID-19 policy after employee tests positive

City of Salmon Arm says only one of its staff has tested positive since March

Salmon Arm Secondary student Karly Irmen collected almost 300 lbs of food for the Salvation Army Food bank and dropped it off on Tuesday, Jan. 19. (Jim Elliot-Salmon Arm Observer)
Salmon Arm Secondary student organizes 295-lb food bank donation

A large amount of clothes was also collected to support local Salvation Army

The BC SPCA is adapting its fundraising after cancelling events due to COVID-19 restrictions. (Twila Amato - Black Press Media)
BC SPCA gets creative with fundraising as pandemic continues

The non-profit’s in-person fundraising events all had to be cancelled due to COVID-19 restrictions

(File Photo)
‘10 to 12 per cent’: Interior Health corrects COVID positivity rates in Fernie area

IH say the rates are not as high as previously claimed by the region’s top doctor

Francina Mettes and Thomas Schouten with the 200-page document they submitted in December of 2018. (Travis Paterson/News Staff)
Dutch man, 94, facing unwanted trip home can stay in B.C. with wife of 45 years

Immigration offices cuts red tape so couple of 45 years can stay together in Victoria area

Health Minister Adrian Dix looks on as Dr. Bonnie Henry pauses for a moment as she gives her daily media briefing regarding Covid-19 for the province of British Columbia in Victoria, B.C, Monday, December 7, 2020. THE CANADIAN PRESS/Jonathan Hayward
B.C. Premier, health officials to discuss next steps in COVID immunization plan

Nearly 31,000 doses of vaccine the province expected by Jan. 29 could be curtailed due to production issues

Vancouver Canucks’ Travis Hamonic grabs Montreal Canadiens’ Josh Anderson by the face during first period NHL action in Vancouver, Wednesday, Jan. 20, 2021. THE CANADIAN PRESS/Jonathan Hayward
Horvat scores winner as Canucks dump Habs 6-5 in shootout thriller

Vancouver and Montreal clash again Thursday night

Interior Health has declared the Cariboo Chilcotin a community cluster. (Angie Mindus photo)
Interior Health declares Cariboo Chilcotin region a COVID-19 cluster, 215 cases since Jan. 1

Most cases are related to transmission at social events and gatherings in Williams Lake

Vernon Fire Rescue Services responded to a single-vehicle rollover Wednesday, Jan. 20, 2021, after a vehicle came into contact with a pedestrian light pole at Kalamalka Lake Road and 14th Avenue. (Brendan Shykora - Morning Star)
Minor injuries in rollover after vehicle hits Vernon crosswalk pole

The vehicle flipped onto its side, closing Kalamalka Lake Road

Most Read