Property owners can expect to receive their property assessment notices for 2021 sometime soon.
Thompson area deputy assessor Tracy Shymko said most homeowners in the Thompson will see a zero to ten per cent increase in value compared to 2020.
“Housing demand has remained strong in our region with some communities such as Barriere, Cache Creek, Logan Lake, Sun Peaks and Merritt experiencing somewhat higher increases in the range of zero up to twenty per cent for residential values,” she said in a release.
Province-wide both residential single family homes and residential strata homes saw a zero to 10 per cent increase. In Sun Peaks the average increase in value of a single family home was 11 per cent, from an average value of $829,000 in 2020 to $920,000 in 2021.
Strata residences in Sun Peaks jumped by an average of 10 per cent, from an average value of $482,000 in 2020 to $531,000 in 2021.
Should a homeowner have questions or concerns about their assessment they are encouraged to access information on the BC Assessment website or contact them directly. Should they still be concerned about the value they may submit a notice of complaint by Feb. 1 for review by a panel.
“It is important to understand that increases in property assessments do not automatically translate into a corresponding increase in property taxes,” Shymko added in the release. “As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes.”
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