Property assessments continue to increase

Property assessments rose again, but less than last year. Photo SPIN

Sun Peaks homeowners received their annual assessment notices in January.

Throughout the Thompson and Okanagan regions most homeowners saw increases. Overall the area saw an increase of $6 billion in assessments.

Sun Peaks’ properties total assessed value increased 14.23 per cent from $805,089,000 in 2019 to $919,650,000 in 2020.

Individual homeowners of residential properties saw an average increase of 10 to 25 per cent, strata residential properties increased an average of five to 15 per cent, and commercial and strata commercial properties an average of zero to 10 per cent.

While most properties saw a similar or slightly smaller increase in assessed value compared to 2019, strata hotels saw the largest increases in the 40 to 50 per cent range.