Residential property owners in Clearwater can expect to see their property assessments change by +5 per cent to -5 per cent when they receive their assessment notices in the next few days.
The 2016 assessment roll for Clearwater will go up to $212,000 from $211,000.
Those owning homes in Barriere can expect to see their assessments change by -10 per cent to +5 per cent.
The assessment roll in Barriere for 2016 decreased to $217,000 from $223,000.
Overall in the Thompson area (outside of Kamloops), residential single detached homes are having a typical change of +10 per cent to -10 per cent.
The assessments for residential strata units (e.g. condominiums), commercial and light industrial properties changed by +5 per cent to -5 per cent.
“The majority of residential home owners within the area can expect a modest change in value, compared to last year’s assessment,” said deputy assessor Graham Held.
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.
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,” said 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,” added Held.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between Feb. 1 and Mar. 15 to hear formal complaints.