Average assessed value of local homes up 17%

In the next few days, owners of more than 72,000 properties throughout the Thompson area can expect to receive their 2019 assessment notices, which reflect market value as of July 1, 2018.

"The majority of home owners within the Thompson area can expect a value that is somewhat higher compared to last year's assessment," says Thompson Okanagan Deputy Assessor Graham Held. "Home values increased in a relatively consistent manner between July of 2017 and July of 2018. There were a few communities where the value increases were notably higher, including Clinton, Lillooet, and Sun Peaks.”

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Sun Peaks showed the highest increase in property values, with the average assessed value of a single family home going up 18 per cent from $718,000 to $847,000.

Lillooet was right behind with a 17 per cent increase in the average value of a single family home going from $184,850 as of July 1, 2017 to $215,400 as of July 1, 2018.

In Clinton the value went up by 16 per cent, from $103,600 to $119,700. 

In the Village of Lytton, property values increased by two per cent from an average assessed value of $134,300 to $137,500.

The average is represented by the median, or mid point, value that removes the influence of outliers.  

Three properties in East Lillooet continue to lead the way as the most highly valued properties within the District of Lillooet.

A property on Brown Road has jumped from third to first as the property with the highest assessed value in town. The 15.8 acre property jumped in assessment from $644,000 in 2017 to $807,000 in 2018.

A 20.16 acre property on Whitney Road has a 2018 assessed value of $766,000; its value in 2017 was $724,000.

The property with the third highest assessment in Lillooet is located on Airport Road. The 2018 assessment for the five-acre property is $754,000, up from its 2017 assessed value of $727,000.

The Thompson area forms a part of B.C. Assessment’s Thompson Okanagan regionand includes the City of Kamloops, District of Barriere, District of Clearwater, City of Merritt, Village of Ashcroft, Village of Cache Creek, Village of Chase, Village of Clinton, Village of Lytton, District of Logan Lake, District of Lillooet, Sun Peaks Mountain Resort Municipality, and the rural areas surrounding these communities.

BC Assessment’s website at bcassessment.ca includes more details about 2019 assessments, property information and trends such as lists of 2019’s top valued residential properties across the province.

The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2019 property assessments for anywhere in the province. As a new option, property owners can unlock additional property search features by registering for a free BC Assessment custom account to store/access favourites, create comparisons and use our new interactive map.

“Property owners can find a lot of 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, 2018 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” said Graham Held.

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