Assessments rise in Osoyoos
If you own a house, you'll soon have an update on how much it's worth.
More than 4,300 property owners in the Town of Osoyoos will receive their 2005 assessment notice soon. Over one million assessments are being sent throughout the province.
The assessments estimate a property's market value as of July 1, 2004. The real estate market creates property value, which is then reported annually by B.C. Assessment.
Most homes on this year's assessment roll are worth more than they were in 2003, and market movement appears strong when compared to previous years, Okanagan Region Assessor Jim Inverarity said.
Osoyoos' assessment roll increased from $527,716,000 last year to $679,336,000 this year. The growth is a reflection of changing market values for many properties, but also incudes $40,614,000 in changes through subdivisions, rezoning and new construction, according to a news release from B.C. Assessment.
Residential properties in rural areas will see increases similar to those experienced in the town, Inverarity said.
View properties on the lower side of Anarchist Mountain have been in high demand. This has been stimulated by the Regal Ridge development. Those properties have experienced sharp value increases, Inverarity said.
The total value of the Assessment Roll for the province rose 17 percent from 2004, and is valued at close to $581 billion dollars for 2005.
The Assessment by Address is also available, for property owners in the area to compare their values to others in the area. Owners can compare values by logging onto www.bcassessment.bc.ca from January 4 to March 15.
Paper copies of the Assessments by Address are also available at local area offices and most municipal halls, libraries and government agent offices across B.C.
