One of the highest jumps was in Salmo, where homes went up 19 per cent from $225,000 on average to $268,000. Photo: Black Press

One of the highest jumps was in Salmo, where homes went up 19 per cent from $225,000 on average to $268,000. Photo: Black Press

Across the board; Greater Trail house values are up

Majority of Kootenay Columbia homeowners can expect a moderate increase in their 2021 assessments

A hot real estate market has bumped up house prices in the Kootenays over the past months, and its being reflected in residents’ annual BC Assessment.

The Kootenay Columbia region, which covers the area from Fernie to Grand Forks and Revelstoke to Cranbrook, saw total assessments increase from about $46.6 billion in 2020 to almost $49.8 billion this year.

“The majority of Kootenay Columbia homeowners can expect a moderate increase in their 2021 assessments compared to last year,” says Deputy Assessor Sharlynn Hill. “Some of the smaller communities have experienced higher demand than previous years and that is reflected in this year’s assessments.”

About 150,000 owners of single family residential properties in the Kootenay Columbia will receive their 2021 assessment notices in the coming weeks.

The value of a house in the City of Trail went up 12 per cent from an average home assessed at $206,000 on July 1, 2019 to $230,000 on July 1, 2020.

Residential properties in Montrose grew 13 per cent from an average of $279,000 to $316,000, while Fruitvale jumped a modest 4 per cent, from $288,000 to $301,000.

Warfield increased 9 per cent from $255,000 to $277,000 and Rossland’s assessed value went up 5 per cent with an average home going for $362,000 in 2019 and $380,000 in 2020.

A total of about $488 million of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

One of the highest jumps occurred in the Village of Salmo whose homes went up 19 per cent from $225,000 on average to $268,000. The other in Slocan, which also rose 19 per cent from $165,000 to $196,000.

Fernie boasts the highest average home priced at $606,000, followed by Revelstoke at $546,000, and Nelson at $504,000.

Property owners can go online (bcassessment.ca) and access information about their own property, or compare other properties anywhere in the province. Residents can also unlock additional property search features by registering for a free BC Assessment custom account to check a property’s 10-year value history, access favourites, create comparisons, monitor neighbourhood sales, and use our interactive map.

“Property owners can find a lot of valuable 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, 2020 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” said Hill.

Property owners can contact one of BC Assessment’s appraisers to address any concerns and appeal their assessment before Feb. 1 by registering a Notice of Complaint with the Property Assessment Review Panel.

The Panel is independent of BC Assessment and appointed annually by the provincial government. They typically meet between Feb. 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 Hill. “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.”

Go to bcassessment.ca or call 1-866-825-8322 for more info.

Read: Greater Trail fares better than most in 2017 tax assessment



sports@trailtimes.ca

Like us on Facebook and follow us on Twitter

City of TrailkootenayProperty taxes

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

South Columbia Search and Rescue called in the Nelson Search and Rescue and Kootenay Valley Helicopters to provide a long line rescue. Photo: BCSAR submitted.
Long-line rescue needed for injured hiker near Trail

Members of South Columbia and Nelson SAR and Kootenay Valley Helicopters did a long-line evacuation

A sign indicating a COVID-19 testing site is displayed inside a parking garage in West Nyack, N.Y., Monday, Nov. 30, 2020. The site was only open to students and staff of Rockland County schools in an effort to test enough people to keep the schools open for in-person learning. (AP Photo/Seth Wenig)
4 more deaths, 54 new cases of COVID-19 in Interior Health

This brings the total to 66 deaths in the region

Chris Kobelka
Trail Smoke Eaters recruit top prospects

Trail Smoke Eaters building for future in 17-year-old defencemen Joel Barton and Chris Kobelka

Surrey RCMP are investigating after a pedestrian was struck and killed at 183 Street and Highway 10 Friday night. (File photo)
Energy consultant Michèle Deluca and city building inspector Sam Ellison are researching how to account for embodied carbon when calculating a new building’s carbon footprint. Photo: Bill Metcalfe
Nelson researches climate impact of embodied carbon in new buildings

Embodied carbon is the footprint of the manufacture and transport of building materials

Dr. Penny Ballem, a former deputy health minister, discusses her role in leading B.C.’s COVID-19 vaccination program, at the B.C. legislature, Jan. 22, 2021. (B.C. government)
B.C. holds steady with 407 new COVID-19 cases Tuesday

14 deaths, no new outbreaks in the health care system

SAR crews worked late into the night Tuesday to rescue an injured snowboarder in North Vancouver. (Facebook/North Shore Rescue)
Complicated, dangerous rescue saves man in avalanche near Cypress Mountain

North Shore SAR team braves considerable conditions to reach injured snowboarder

A Cessna 170 airplane similar to the one pictured above is reported to be missing off the waters between Victoria and Washington State. Twitter photo/USCG
UPDATE: No sign of small plane that went down in waters south of Vancouver Island

Searchers out on both sides of border between Victoria and Port Angeles

In this undated image made from a video taken by the Duke of Sussex and posted on @SaveChildrenUK by the Duke of Sussex and Meghan, Duchess of Sussex, shows the Duchess of Sussex reading the book “Duck! Rabbit!” to their son Archie who celebrates his first birthday on Wednesday May 6, 2020. The Canadian Paediatric Society is reminding families that the process of raising a reader starts from birth. (Duke of Sussex/@SaveChildrenUK)
Canadian Paediatric Society says raising a reader starts from birth

CPS says literacy is one of the strongest predictors of lifelong health outcomes

Employment, Workforce Development and Disability Inclusion Minister Carla Qualtrough responds to a question during a news conference Thursday August 20, 2020 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Easing rules for parental benefits created inequities among parents, documents say

Employment Minister Carla Qualtrough’s office says the government will make any necessary changes

People walk along a pedestrianized zone of Sainte-Catherine street in Montreal, Monday, May 18, 2020, as the COVID-19 pandemic continues in Canada and around the world. Newly released statistics point to a major drop in police-recorded crime during the first eight months of the COVID-19 pandemic. THE CANADIAN PRESS/Graham Hughes
Crime down in first 8 months of pandemic, but mental health calls rise: StatCan

The agency says violent crimes such as assault dropped significantly

Cowichan Tribes chief Squtxulenhuw (William Seymour) confirmed the first death in the First Nations community from COVID-19. (File photo)
Cowichan Tribes confirms 1st death amid growing COVID-19 outbreak

Shelter-in-place order has been extended to Feb. 5

(Pixabay)
B.C. teacher gets 1 day suspension after ‘aggressively’ throwing dumbbell at student

Documents show the weight would have hit the student if they didn’t catch it

Most Read