Property values slip for Okanagan, Island

Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island

Condo construction in Victoria

Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island.

The biggest increases were in the Northwest and Peace River regions, where total residential value rose about 10 per cent as natural gas and other industrial development picks up speed.

The B.C. Assessment Authority released its 2014 property assessment rolls Thursday, showing continued slight growth in total property values in most regions of B.C. The value of all property in B.C. rose 1.27 per cent, despite declines in most regions for farm, recreational and managed forest land.

Assessments for regions and individual properties are available here, where property owners can find information on appealing their assessment for property tax purposes.

In the Lower Mainland, most residential values showed modest increases, from almost flat on the North Shore to 1.61 per cent in Vancouver, 0.68 in North Fraser, 1.98 per cent in Surrey-White Rock and 1.53 per cent in the Fraser Valley. Richmond-Delta recorded the only decline in the region, with residential total value down 0.15 per cent.

In Southern Vancouver Island, total residential property value fell 2.69 per cent, with similar decreases for recreational and farm property. Business property is up 3.89, and major industrial property jumped 17.45 per cent.

Central Vancouver Island residential property slipped 1.31 per cent, with similar decreases in industrial, recreational and farm property and a 2.67 per cent rise in business property. The Courtenay region saw residential values hold steady, with business property up 3.36 and farm and recreational values down two per cent.

Penticton region residential property is down 0.94 per cent, with a similar dip in farm value. Kelowna also had about a one per cent drop in farm value, with residential value steady compared to 2013. The Vernon region saw a 1.57 per cent drop in residential value and a 1.95 per cent dip in farm value.

Residential property value was up 1.21 per cent in the Nelson-Trail region, up 1.31 per cent in the East Kootenay and up 0.76 per cent in the Kamloops region.

Residential value held steady in the Cariboo region, with declines recorded in industrial, farm and forest land.

The largest moves in the 2014 assessment roll were for managed forest land, which showed a jump of 15.3 per cent in the Fraser Valley and drops of 10 per cent or more in other regions.

Rod Bealing, executive director of the Private Forest Landowners Association, said the value reflects fluctuations in the price of logs, with property value lagging the timber market by several years.

 

Just Posted

Barriere Health Centre renos will require patients to enter from the emergency entrance

Patients are advised that access to the Barriere Health Centre from Nov. 23 to 30 will be through the emergency room doors at the rear of the building

RCMP resort to spike belts to stop vehicle on Highway 5 near Barriere

After numerous complaints were received regarding driver’s behaviour behind the wheel Barriere and Kamloops RCMP use spike belts to stop vehicle

UPDATE: Missing senior couple found

A senior couple from the Lower Mainland have been reported missing

Barriere Secondary School holds Remembrance Day ceremony

Remembrance Day Ceremonies took place at Barriere Secondary (BSS) on Friday, Nov.… Continue reading

Bill Kershaw elected vice-chair of Thompson Nicola Regional District

Barriere resident Bill Kershaw was re-elected in October as the Thompson Nicola… Continue reading

Six students arrested, charged in sex assault probe at Toronto all-boys school

The school’s principal, Greg Reeves, described the video of the alleged sexual assault as ‘horrific’

Laine scores 3 as Jets double Canucks 6-3

Injury-riddled Vancouver side drops sixth in a row

Deportation averted for Putin critic who feared return to Russia

Elena Musikhina, a vocal critic of the Kremlin, has been granted a two-year visitor’s permit in Canada

B.C. to allow Uber-style ride hailing services to operate in late 2019

Fee will be applied to fund options for disabled people

Auditor general takes aim at Liberals’ fighter-jet plan

Suditor general Michael Ferguson is about to release a new report on Canada’s attempts to buy new fighter jets

B.C. couple converts ambulance into a traveling home

The Revelstoke couple plan on touring B.C. ski hills then driving to Mexico

Cyclist defecates, throws own poop at car following B.C. crash

Man defecates in the street before throwing it at a driver locked in her vehicle

Jamie Koe, other curlers kicked out of bonspiel for being too drunk

‘You don’t kick around other players’ bags, it’s disrespectful and we expect better of our players’

Homicide victim found under B.C. bridge identified as Hells Angels member

Chad John Wilson was one of four men arrested in Spain in 2013 on allegations of smuggling cocaine.

Most Read