Residential assessments up throughout South Okanagan and Similkameen

PENTICTON – Penticton and South Okanagan residents can expect to receive their 2017 assessment notices in the coming days as property values show an increase in all communities in the region.

All municipalities in the Regional Districti of Okanagan Similkameen reported an increase in assessed value in 2017, according to a media release.

Penticton’s assessment roll is up 7.3 per cent from last year, from an average residential property assessment value of $404,400 to $434,100 in 2017.

The largest change in assessment in the last year was Summerland where values were up 11.9 per cent from $452,000 to $505,600 for the average residence.

The smallest change in assessed value reported was Princeton, which grew by 3.2 per cent from $197,200 to $203,600,

Assessment values for other regional district communities are as follows:

  • Penticton (strata) – up 8.3 per cent from $228,800 to $247,800
  • Keremeos – up 9.7 per cent from $233,300 to $256,000
  • Oliver – up 5.6 per cent from $312,800 to $330,400
  • Osoyoos – up 9.6 per cent from $371,200 to $406,700

One Summerland property made the top 100 highest assessed residential properties in the Okanagan this year, located at 903 Dent Ave. in Summerland. The property, valued at $4,575,000, placed 62nd on the list, down from 48th last year when it’s assessed value was $4,398,000.

A second Summerland property located at 7805 Oak Ave., which placed 84 and was listed at $3,811,000 in 2016, failed to make the top 100 this year.

B.C. Assessment reports an increase of $9 billion in assessment value in the Okanagan this year, with a total of $1.7 billion coming from new construction, subdivisions and property rezoning.

The largest increases in assessed value came from properties in Kelowna and the Central Okanagan.

Property owners who feel their assessment is incorrect have until Jan. 31 to file an appeal which will result in a review of the assessment by an independent property assessment review panel.


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Steve Arstad

I have been looking for news in the South Okanagan - SImilkameen for 20 years, having turned a part time lifelong interest into a full time profession. After five years publishing a local newsletter, several years working as a correspondent / stringer for several local newspapers and seven years as editor of a Similkameen weekly newspaper, I joined iNFOnews.ca in 2014. My goal in the news industry has always been to deliver accurate and interesting articles about local people and places. My interest in the profession is life long - from my earliest memories of grade school, I have enjoyed writing.
As an airborne geophysical surveyor I travelled extensively around the globe, conducting helicopter borne mineral surveys.
I also spent several years at an Okanagan Falls based lumber mill, producing glued-wood laminated products.
As a member of the Kaleden community, I have been involved in the Kaleden Volunteer Fire Department for 22 years, and also serve as a trustee on the Kaleden Irrigation District board.
I am currently married to my wife Judy, of 26 years. We are empty-nesters who enjoy living in Kaleden with our Welsh Terrier, Angus, and cat, Tibbs.
Our two daughters, Meagan and Hayley, reside in Richmond and Victoria, respectively.

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