Kamloops home values in 2018 - property assessment numbers are up again

KAMLOOPS - Property owners in the Thompson region can expect to get their property assessment notices in the mail within the next few days and you might find your home has appreciated in value — some significantly.

B.C. Assessment says in a news release that homeowners can expect a moderate increase, which will reflect the market value as of July 2017.

Compared to 2017, numbers for residential single detached homes in urban areas of the Thompson are up between zero and 15 per cent, while rural properties range from a decrease of five per cent to an increase of 25 per cent.

Residential strata units in urban areas vary between a five per cent decrease and 20 per cent increase compared to 2017 numbers, while properties in urban areas increased by five per cent to 25 per cent.

Commercial units in urban areas are up between zero to 20 per cent and in rural areas numbers range from a decrease of five per cent to an increase of 25 per cent.

Deputy Assessor Graham held says in a release today, Jan. 2, that last year's wild weather in the region had an impact on some properties.

"The majority of residential home owners within the region can expect  a moderate increase, compared to last year's assessment," Held says. "Some properties in our region were impacted by spring floods and summer wild fires. The local B.C. Assessment staff have identified most of these properties to ensure they receive an accurate assessment."

Within the Thompson region, the District of Lillooet had the biggest increase in values of single family residential properties, up 20 per cent compared to 2017 numbers, when the average assessed value was $177,000. The average assessed value in 2018 is $213,000.

There was a moderate increase year-over-year in the City of Kamloops, up nine per cent compared to last year. The average value of single family residential properties in the city this year is $441,000 compared to $405,000 in 2017.

A moderate increase for Sun Peaks, up six per cent to $831,000 compared to $785,000 in 2017.

Assessed values in Lytton and Ashcroft stayed relatively static, each with one per cent increases.

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