BC Assessment values decrease in the Okanagan following BC Assessment’s July 2023 review.
Kelowna’s single family homes saw a decrease of 3%, while West Kelowna saw a 5% decline. Lake Country decreased by 2% while Peachland only saw a 1% decline in the median pricing.
BC Assessment – Central Okanagan
Kelowna 2023 Typical Assessed Value (as of July 1, 2022) = $987,000.
Kelowna’s 2024 Typical Assessed Value (as of July 1, 2023) = $953,000
West Kelowna 2023 Typical Assessed Value (as of July 1, 2022) = $964,000.
West Kelowna’s 2024 Typical Assessed Value (as of July 1, 2023) = $912,000
Lake Country 2023 Typical Assessed Value (as of July 1, 2022) = $972,000.
Lake Country’s 2024 Typical Assessed Value (as of July 1, 2023) = $955,000
Peachland 2023 Typical Assessed Value (as of July 1, 2022) = $889,000.
Peachland’s 2024 Typical Assessed Value (as of July 1, 2023) = $984,000
BC Assessment collects, monitors and analyzes property data throughout the year. The summaries below provide estimates of typical 2023 versus 2024 assessed values of properties throughout the region. These examples demonstrate market trends for single-family residential properties by geographic area throughout the Central Okanagan.
Assessment Appeal
BC Assessment’s website at bcassessment.ca includes more details about 2024 assessments, property information and trends such as lists of 2024’s top valued residential properties across the province.
If a property owner is concerned about their assessment, they may submit a Notice of Complaint (Appeal) by January 31st, for an independent review by a Property Assessment Review Panel.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the provincial government, and typically meet between February 1 and March 15 to hear formal complaints.
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Speaking to a professional about your BC Assessment is essential. Please always verify the accuracy of this information through your own due diligence. Nicole McWilliams will assume no responsibility or liability for the accuracy of the information within.
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