Penticton property assessments up in 2015

PENTICTON – B.C. Assessment released the latest property information for Penticton and the South Okanagan – Similkameen this week.

Assessed values of most homes in the South Okanagan are up in value compared to last year’s assessment roll. The changes in property values are modest, however, in the -5% to +5 % range for the most part.

The South Okanagan’s Assessment Roll increased to $19,773,585,279 this year from $19,516,491,502 last year. Of note, a total of almost $235,000,000 was added through subdivisions, rezoning and new construction.

In addition, owners of commercial and industrial properties in the South Okanagan will see changes ranging from -5% to +10%.

No residential properties in Penticton made it onto B.C. Assessment’s list of top valued Okanagan properties, but according to deputy assessor for B.C. Assessment Okanagan Region Jason Sowinsky, the most valuable residential property in Penticton is located at 2995 Partridge Drive, assessed at $3,738,000.

Penticton’s average assessed value for residential properties is up $13,000 to $383,000 in 2015 from $370,000 in 2014. For Penticton strata properties, the increase is $13,000, up from $216,000 in 2014.

In other municipalities in the region, Summerland saw an increase in average assessed value of $22,000, from $416,000 in 2014. Keremeos is up $2,000 from $224,000 in 2014, Oliver $16,000 from $298,000 in 2014 and Osoyoos increased by $2,000,from $362,000 last year.

To contact the reporter for this story, email Steve Arstad at sarstad@infonews.ca or call 250-488-3065. To contact the editor, email mjones@infonews.ca or call 250-718-2724.