KAMLOOPS — In the next few days, owners of more than 72,000 properties throughout the Thompson area can expect to receive their 2019 assessment notices, which reflect market value as of July 1, 2018.
"The majority of home owners within the Thompson area can expect a value that is somewhat higher compared to last year's assessment," says Thompson Okanagan Deputy Assessor Graham Held. "Home values increased in a relatively consistent manner between July of 2017 and July of 2018. There were a few communities where the value increases were notably higher, including Clinton, Lillooet, and Sun Peaks."
As B.C.'s trusted provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year. The table below indicates the Thompson's estimated range of percentage changes to 2019 assessment values by property type compared to 2018. Please note property assessments may vary by jurisdiction or municipality within the region.
Residential Single Detached Homes | 0% to +15% | -5% to +25% |
Residential Strata Units (e.g. condominiums) | 0% to +25% | Not applicable |
Commercial | 0% to +50% | -10% to +20% |
Light Industrial | 0% to +20% | -5% to +20% |
Overall, the Thompson's total assessments increased from about $27 billion in 2018 to $29.5 billion this year. A total of about $317.4 million of the region's updated assessments is from new construction, subdivisions and rezoning of properties. The Thompson area forms a part of BC Assessment's Thompson Okanagan region and 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, District of Lillooet, Sun Peaks Mountain Resort Municipality, and the rural areas surrounding these communities.
The summaries below provides estimates of average 2018 versus 2019 assessed values of properties throughout the region. The average is represented by the median, or mid point, value that removes the influence of outliers.
These examples demonstrate market trends for single-family residential properties by geographic area:
| City of Kamloops | $397,550 | $431,000 | +8% |
| District of Barriere | $195,400 | $221,500 | +13% |
| District of Clearwater | $229,000 | $230,000 | 0% |
| City of Merritt | $243,100 | $266.100 | +9% |
| Village of Ashcroft | $217,000 | $222,200 | +2% |
| Village of Cache Creek | $148,200 | $163,200 | +10% |
| Village of Chase | $263,700 | $285,900 | +8% |
| Village of Clinton | $103,600 | $119,700 | +16% |
| District of Logan Lake | $210,600 | $229,600 | +9% |
| District of Lillooet | $184,850 | $215,400 | +17% |
| Village of Lytton | $134,300 | $137,500 | +2% |
| Sun Peaks | $718,000 | $847,000 | +18% |
These examples demonstrate market trends for strata residential properties (e.g. condominiums) by geographic area for elect applicable communities:
| City of Kamloops | $ 229,500 | $ 248,000 | +8% |
| City of Merritt | $ 125,100 | $ 137,300 | +10% |
| Sun Peaks | $ 361,000 | $ 443,000 | +23% |
BC Assessment's website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019's top valued residential properties across the province. The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2019 property assessments for anywhere in the province. As a new option, property owners can unlock additional property search features by registering for a free BC Assessment custom account to store/access favourites, create comparisons and use our new interactive map.
"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, 2018 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January," says Deputy Assessor Graham 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 January 31st, for an independent review by a Property Assessment Review Panel," adds Held.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Municipal Affairs and Housing, and typically meet between February 1 and March 15 to hear formal complaints.
"It is important to understand that increases in property assessments do not automatically translate into a corresponding increase in property taxes," explains Held. "How your assessment changes relative to the average change in your community is what may affect your property taxes."
The Kamloops BC Assessment office is located at:
805 Renfrew Avenue
Kamloops, BC
V2B 3X3
During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcasssessment.ca
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Media contact:
Graham Held, Deputy Assessor, BC Assessment
Tel. 1.866.825.8322 Ext. 23229 Email: graham.held@bcassessment.ca
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