Property values slip for Okanagan, Island

Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island

Condo construction in Victoria

Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island.

The biggest increases were in the Northwest and Peace River regions, where total residential value rose about 10 per cent as natural gas and other industrial development picks up speed.

The B.C. Assessment Authority released its 2014 property assessment rolls Thursday, showing continued slight growth in total property values in most regions of B.C. The value of all property in B.C. rose 1.27 per cent, despite declines in most regions for farm, recreational and managed forest land.

Assessments for regions and individual properties are available here, where property owners can find information on appealing their assessment for property tax purposes.

In the Lower Mainland, most residential values showed modest increases, from almost flat on the North Shore to 1.61 per cent in Vancouver, 0.68 in North Fraser, 1.98 per cent in Surrey-White Rock and 1.53 per cent in the Fraser Valley. Richmond-Delta recorded the only decline in the region, with residential total value down 0.15 per cent.

In Southern Vancouver Island, total residential property value fell 2.69 per cent, with similar decreases for recreational and farm property. Business property is up 3.89, and major industrial property jumped 17.45 per cent.

Central Vancouver Island residential property slipped 1.31 per cent, with similar decreases in industrial, recreational and farm property and a 2.67 per cent rise in business property. The Courtenay region saw residential values hold steady, with business property up 3.36 and farm and recreational values down two per cent.

Penticton region residential property is down 0.94 per cent, with a similar dip in farm value. Kelowna also had about a one per cent drop in farm value, with residential value steady compared to 2013. The Vernon region saw a 1.57 per cent drop in residential value and a 1.95 per cent dip in farm value.

Residential property value was up 1.21 per cent in the Nelson-Trail region, up 1.31 per cent in the East Kootenay and up 0.76 per cent in the Kamloops region.

Residential value held steady in the Cariboo region, with declines recorded in industrial, farm and forest land.

The largest moves in the 2014 assessment roll were for managed forest land, which showed a jump of 15.3 per cent in the Fraser Valley and drops of 10 per cent or more in other regions.

Rod Bealing, executive director of the Private Forest Landowners Association, said the value reflects fluctuations in the price of logs, with property value lagging the timber market by several years.

 

Just Posted

Police call Appledale death a homicide

But few other details being released

Fire engulfs car on weekend

No one injured in incident

Nelson rejects plastic bag ban, opts for education and awareness

Council will collaborate with Chamber of Commerce

UPDATE: Mayor says plastic-bag ban bylaw will be delayed

Ruling throws bylaw in limbo, but Moore committed to moving forward

Nelson U-Haul shutting down

Kootenay Glass and Mirror will no longer provide the service as of July 12

‘Bad choices make good stories’: Margaret Trudeau brings her show to Just for Laughs

Trudeau says over the decades she has been suicidal, manic, depressed

VIDEO: Wolf spotted swimming ashore on northern Vancouver Island

Island wolf population estimated at under 150 in 2008, says VI-Wilds

Diversity a Canadian strength, Trudeau says of Trump tweets at congresswomen

Trudeau avoided using Trump’s name when he was asked about the president’s Twitter comments

B.C. couple bring son home from Nigeria after long adoption delay

Kim and Clark Moran of Abbotsford spent almost a year waiting to finalize adoption of Ayo, 3

Garneau ‘disappointed’ in airlines’ move against new passenger bill of rights

New rules codified compensation for lost luggage, overbooked flights

Mercury tops out on top of the world: Alert in Nunavut warmer than Victoria

It’s the latest anomaly in what’s been a long, hot summer across the Arctic

Canadian is detained in China on drug allegations: Chinese government

Detention of a Canadian in China comes as part a diplomatic dispute triggered by arrest of Huawei exec Meng Wanzhou

Too much time on social media can hurt teens’ mental health: study

Researchers conducted a four-year survey of more than 3,800 adolescents between Grades 7 and 11

Advocates want charges in horse deaths during Calgary Stampede chuckwagon races

Chuckwagon races are a nightly spectacle during the Stampede, a 10-day annual celebration of western life

Most Read