THE AVERAGE PROPERTY VALUE INCREASE IN VALUE IN KAMLOOPS IS 11 PER CENT

SEAN BRADY STAFF REPORTER sbrady@kamloopsthisweek.com

The deadline has passed for residents to appeal the assessed value of their properties.

Despite an average increase in value in Kamloops of 11 per cent, BC Assessment said it is an average year for appeals.

“We’re tracking at a pretty typical five-year average rate,” said Tracy Shymko, deputy assessor for the Thompson-Okanagan region.

The average five-year rate for appeals is 1.5 per cent, Shymko told KTW. That amounts to about 2,000 appeals in the region each year.

Last year, when assessed property values for single-family homes increased by average of 27 per cent, the Crown corporation reported an appeal rate closer to two per cent.

The agency was anticipating another year with more appeals, but didn’t see that materialize as of the Jan. 31 deadline to fine appeals.

“Last year. we had some pretty substantial increases throughout the region, with some property owners seeing upwards of 40 per cent increases in assessed value, so last year was a busy year for us,” Shymko said. She said it’s important for people to understand how the assessment process works and the importance of evaluation deadlines.

Properties are assessed based on their market value as of July 1 each year. Shymko said appeals should include sales in and around that month to support a different valuation.

“If they want a reduction in their assessment, their best evidence is comparable sales that support a reduced value,” she said.

One such appeal was made by Ray

Jolicoeur, who appealed the $730,000 figure he was given in his 2022 assessment.

Jolicoeur, general manager at Kamloops This Week, said he simply wants a fair assessment. He started the appeal process in late January.

“There’s no way my house went up 27 per cent in a matter of six months,” he said.

Jolicoeur’s property, a strata townhouse in Lower Sahali, was assessed this year at $730,000. His 2021 assessment was $575,000 and he purchased the property in 2020 for $497,828.

“That’s just way, way, way too much, especially based on the units that sold in the trailing 12 months,” he said.

Jolicoeur is hoping his appeal will result in a lower valuation. He said he wants to explain his reasoning, noting lower sales of similar units nearby. He said he is facing another $1,000 in property taxes if the assessment stands.

Shymko said those who filed an appeal will receive a response from the Property Assessment Review Panel by April 7 and, if they are not satisfied with the result, can further appeal to the Property Assessment Appeal Board before April 30.