HIGHEST PROPERTY VALUE INCREASE IN B.C.

BC Assessment says the mountain municipality experienced a ‘strong market’ in 2022

By Tegwyn Hughes

Tracy Shymko, a BC Assessment deputy assessor for the Thompson Okanagan region, told SPIN the village’s strong market growth over the past year contributed to the rise in assessed values.

“We did see a very strong market in Sun Peaks,” she said. “There were well over 20 sales of residential properties.”

Shymko explained that Sun Peaks’ impressive assessed value increase doesn’t mean there’ll be a similarly high rise in property taxes.

“Tax shifts based on the average residential property assessment,” she said. “Municipalities will take the average increase and taxes go up if you’re above the average.”

In Sun Peaks, that means properties valued at $1.6 million or more will likely see a tax increase in 2023. Owners can expect to receive their property assessments as early as Jan. 3 and can search for their address on the BC Assessment website.

In its press release, BC Assessment also advised homeowners that because the housing market has fluctuated since July 1, 2022, the assessed value of a property may not match its current market value.

Although Sun Peaks didn’t grace the list of the 100 most expensive properties in the Thompson Okanagan region, the municipality’s priciest addresses are still pretty impressive.

According to data provided to SPIN by BC Assessment, the Sun Peaks property with the highest taxable value was 4137 Douglas Crt., assessed at $5.2 million. In Kamloops, the highest assessed property was only valued at around $3 million.

Shymko said compared to other B.C. destinations like Whistler (which boasts a property assessed at $32.9 million) Sun Peaks still offers competitive prices on luxury homes.

“Sun Peaks is really a destination that’s getting on the map,” she said. “For luxury vacation homes, [properties] are still affordable.”

Canada Cup Racing Into Sun Peaks

Downhill racers will hit the mountain biking trails Aug. 20

By Liz McDonald

Cycling Canada recently added Sun Peaks to its list of hosts for the 2023 Canadian Downhill MTB Championships.

The Canada Cup was expanded this year, with Sun Peaks added to the roster. The village will be the last stop in the series run by Dunbar Summer Series, which is organized by SE Racing.

According to a Dunbar Summer Series Facebook post announcing the races, the Canadian DH Nationals will be held at four resorts over the summer. Events will take place in Fernie on July 16, Panorama on July 19 and Kicking Horse on Aug. 13 before ending in Sun Peaks on Aug. 20.

In 2022, racers competed in a variety of categories including two adaptive mountain biking categories. However, Dunbar Summer Series announced on Jan. 9 it would be suspending those categories for 2023, citing “scheduling concerns and uplift issues” as well as difficulty securing an insurance provider.

Registration for the series opens on Feb. 15, 2023 and can be completed online at ccnbikes.com.

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