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Property owners across the Okanagan can expect to receive their 2018 assessment notices in the mail this week, but you can already look up yours online.
The assessment reflects the market value as of July 1, 2017.
The Okanagan’s total assessment value increased from $98 billion in July of 2016 to $119 billion in July of 2017. $2.5 billion of the $21 billion increase for the region's updated assessments is from new construction, subdivisions and rezoning of properties.
The Central Okanagan led the way in property value increases.
Both Lake Country and Kelowna saw a whopping 17% property value increase between the July 2016 and the July 2017 valuation dates.
Pentiction, Summerland and Peachland real estate saw a 16% value increase and West Kelowna saw a 15% increase.
To find out the value of your specific property, you can click here to use the search tool on the BC Assessments website.
"Those who feel that their property assessment does not reflect market value as of July 1, 2017 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January," said deputy assessor Tracy Wall.
"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 Jan. 31, for an independent review by a Property Assessment Review Panel."
The total value of B.C. real estate on the 2018 Roll is over $1.86 trillion, an increase of nearly 12% from 2017.
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