For better or worse, City of Trail property owners will see one of the highest increases in the West Kootenay in its property assessments this year.
According to the Jan. 2 release of the 2025 BC Property Assessments, an average price for a single-family home in Trail will increase by 7 per cent with the average home assessed at $376,000 - up from $352,000 in 2024.
“For 2025, most homeowners can expect generally flat property assessment value changes in the -5 per cent to +5 per cent range for many Thompson Okanagan communities while homeowners in Kootenay Columbia areas may see a higher rate of change in the 0 per cent to 10 per cent range," says Deputy Assessor Boris Warkentin.
Last year, the largest increase in the West Kootenay was in the Village of Slocan where the assessed value went up 12 per cent.
This year the average value in Slocan had decreased 3 per cent, dropping from $423,000 to $409,000.
Still, Trail's average home price is lower than most, only Greenwood, up 1 per cent to $249,000, and Midway, $341,000, have a lower assessed value for a single-family home in the West Kootenay-Boundary.
In Greater Trail, the City of Rossland stayed the same at $616,000, second highest in the West Kootenay, Warfield went up 1 per cent to $408,000, Montrose saw an increase of 1 per cent to $451,000, and Fruitvale was up 2 per cent to $455,000.
Castlegar saw a 6 per cent increase with a single-family home assessed at $520,000, and Grand Forks was up 4 per cent to $423,000.
Elsewhere, Salmo is up 2 per cent to $379,000, and the highest assessed homes that saw a 2 per cent increase are in Nelson at $681,000, up from $669,000.
"It is important to understand that changes in property assessments do not automatically translate into a corresponding change in property taxes," explains Warkentin. "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."
Property owners and real estate holders can go online and check the new value of their respective properties based on market values as of July 1, 2024.
Revelstoke saw a 3 per cent jump and took the dubious honour of having the highest assessed properties in the Kootenay-Columbia at $860,000, just beating out Fernie with a 1 per cent increase and $856,000.
Many communities in the Okanagan have seen a decrease in assessed value.
The City of Armstrong went down 5 per cent, Kelowna and West Kelowna -1 per cent, Penticton and Summerland -2 per cent, and Lake Country -3 per cent.
Still, an average home in Kelowna is assessed at $938,000 down from $952,000 in 2024.
Notably, the vast majority of the 100 Southern Interior Top Valued Residential Properties are in and around Kelowna and Lake Country.
The highest valued single family home is in Lake Country assessed at $15,656,000, followed by a property on Hobson Road in Kelowna at $14,368,000.
The one and only Kootenay single-family home on the list is at number 43, a home in Invermere assessed at $8,874,000.
Overall, the Southern Interior's total assessments increased from about $315 billion in 2024 to nearly $323 billion this year.
A total of about $5.29 billion of the region's updated assessments is from new construction, subdivisions and the rezoning of properties.
Visit bcassessment.ca for more information, and to find your property assessment.
