Skip to Content
ON AIR NOW12:00 AM - 6:00 AMRadio NL @ Night
listen live
Home

Local News Now

Residential tax assessments rise six per cent for Kamloops properties

Colton Davies
Jan 4, 2021 | 9:33 AM


Residential tax assessments rise six per cent for Kamloops properties

The latest property tax values from BC Assessment have been released, and Kamloops and most homes of the Thompson-Nicola regions have seen a rise in property value.

As of July 1, 2020, the average single-family home in Kamloops had a tax assessed value of $488,000 and multi-family units had an average tax value of $285,000. Both of those numbers are a six per cent increase from July 1, 2019.

Within the Kamloops area, the community that has had the largest increase by dollar value is Sun Peaks; the average single-family home has a tax assessed value of $920,000, which is up $91,000 from a year earlier. Multi-family units in Sun Peaks have risen in value by $49,000 on average, to $531,000.

Meanwhile, Logan Lake saw the largest increase by percentage in tax assessment, going up 15 per cent to $282,000, on average, for a single-family home. Merritt (12 per cent, $323,000) and Barriere (10 per cent, $270,000) also saw double-digit rises in the average tax value for single-family homes.

Out of the 12 municipalities within the TNRD, only one saw a decrease in average property values. The Village of Lytton saw tax assessments drop by seven per cent, to $149,000.

BC Assessment determines the tax value of properties by looking at real estate sales around July 1.

Property owners can see their updated assessed values by clicking here.

More to come.