Kootenay property values increase
By Contributor
In the next few days, owners of more than 142,000 properties throughout the Kootenay Columbia region can expect to receive their 2016 assessment notices which reflect market value as of July 1, 2015.
“The majority of residential home owners within the region can expect an increase, compared to last year’s assessments,” says Ramaish Shah, Kootenay Columbia Region Deputy Assessor. “Most home owners in the Kootenay Columbia region will see modest increases depending on their location. For example, a typical single family home in Nelson that was previously assessed at $315,000 was valued at $333,000 in the summer of 2015.”
As B.C.’s trusted, go-to provider of property information, BC Assessment collects, monitors and analyzes property data throughout the year. The table below indicates the Kootenay Columbia region‘s estimated typical percentage changes to 2016 assessment values by property type compared to 2015 (note that property assessments may vary by individual jurisdiction/municipality within the region).
Property Type
Kootenay Columbia Region
2016 Assessment
Typical % Changes in Value
(as of July 1, 2015)
Residential Single Family Homes
0% to +10%
Residential Strata Units (e.g. condominiums)
0% to +10%
Commercial
-5% to +5%
Light Industrial
-5% to +5%
Overall, the Kootenay Columbia region’sassessment roll increased from $36.97 billion in 2015 to $37.89 billion this year. This value reflects a change due to market movement as well as $361 million in growth due to subdivisions, rezoning and new construction. The Kootenay Columbia region includes the southeast portion of province from Cranbrook to Grand Forks and from Trail to Golden.
The summary below provides estimates of typical 2016 versus 2015 assessed values of residential homes throughout the region. These examples demonstrate market trends for single family residential properties by geographic area:
Jurisdiction
2016 Assessment Roll
(market value as of
July 1, 2015)
2015 Assessment Roll
(market value as of
July 1, 2014)
City of Castlegar
$264,000
$254,000
City of Cranbrook
$269,000
$256,000
City of Fernie
$448,000
$421,000
City of Grand Forks
$194,000
$189,000
City of Greenwood
$125,000
$121,000
City of Kimberley
$228,000
$209,000
City of Nelson
$333,000
$315,000
City of Revelstoke
$325,000
$296,000
City of Rossland
$255,000
$238,000
City of Trail
$155,000
$166,000
District of Elkford
$266,000
$269,000
District of Invermere
$371,000
$342,000
District of Sparwood
$310,000
$304,000
Town of Creston
$225,000
$217,000
Town of Golden
$281,000
$279,000
Village of Canal Flats
$176,000
$159,000
Village of Fruitvale
$216,000
$217,000
Village of Kaslo
$197,000
$197,000
Village of Midway
$176,000
$173,000
Village of Montrose
$233,000
$223,000
Village of Nakusp
$192,000
$200,000
Village of New Denver
$194,000
$184,000
Village of Radium Hot Springs
$328,000
$304,000
Village of Salmo
$170,000
$175,000
Village of Silverton
$232,000
$212,000
Village of Slocan
$152,000
$148,000
Village of Warfield
$193,000
$194,000
Of note, BC Assessment has launched a newly-enhanced website at bcassessment.cathat includes more details about 2016 assessments, property information and trends such as lists of 2016’s top most valuable residential properties across the province. The website also provides self-service access to the free online e-valueBCservice that allows anyone to search, check and compare 2016 property assessments anywhere in the province.
“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, 2015 or see incorrect information on their notice, should contact BC Assessment as indicated on their notice as soon as possible in January,” says Shah.
“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by February 1, for an independent review by a Property Assessment Review Panel,” addsShah.
The Property Assessment Review Panels, independent of BC Assessment, are appointed annually by the Ministry of Community, Sport and Cultural Development, and typically meet between February 1 and March 15 to hear formal complaints.
The Kootenay ColumbiaRegion Assessment offices are located at:
Nelson Office
176 – 333 Victoria St.
Nelson V1L 4K3
Cranbrook Office
200 – 117 Cranbrook St. N
Cranbrook V1C 3P8
During the month of January, office hours are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcasssessment.ca
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