KAMLOOPS —This week, owners of more than 71,000 properties throughout the Thompson area can expect to receive their 2016 assessment notices which reflect market value as of July 1, 2015.
“The majority of residential home owners within the area can expect a modest change in value, compared to last year’s assessment,” says Deputy Assessor Graham Held.
As B.C.’s trusted, go-to provider of property information, BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, the Thompson area’s total assessments increased from $23.59 billion in 2015 to $24.14 billion this year. A total of almost $308 million of the Thompson area’s updated assessments is from new construction, subdivisions and rezoning of properties. The Thompson portion of BC Assessment’s Thompson Okanagan region includes the City of Kamloops, District of Barriere, District of Clearwater, City of Merritt, Village of Ashcroft, Village of Cache Creek, Village of Chase, Village of Clinton, Village of Lytton, District of Logan Lake, Sun Peaks Mountain Resort Municipality and the rural areas surrounding these communities.
The summary below provides estimates of typical 2016 versus 2015 assessed values of residential homes throughout the region. These examples demonstrate market trends for single family residential properties by geographic area:
Of note, BC Assessment has launched a newly-enhanced website at bcassessment.ca that includes more details about 2016 assessments, property information and trends such as lists of 2016’s top most valuable residential properties across the province. The website also provides self-service access to the free online e-valueBC service that allows anyone to search, check and compare 2016 property assessments anywhere in the province.
“Property owners can find a lot of information on our website including answers to many assessment-related questions, but those who feel that their property assessment does not reflect market value as of July 1, 2015 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Held.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by February 1, for an independent review by a Property Assessment Review Panel,” adds Held. Contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcasssessment.ca