Kamloops homeowners can expect to receive their property assessment notices in the mail in the next few days. The assessments reflect market value as of July 1st, 2017 and Kamloops homeowners will see increases up to 15% for single detached homes.

The average assessed value for a single family home in Kamloops went from $405,000 in 2016 to $441,000 in 2017, an increase of 9%.

The most significant increase in property values was in Barnhartvale, where the average value increased by 13.5%. On the lower end was Sahali, where the average assessed value increased by 5.1%.

“The majority of residential home owners within the region can expect  a moderate increase, compared to last year’s assessment,” said deputy assessor Graham Held.

Overall, the Thompson region’s total assessments increased from $25.87 billion in 2017 to $28.05 billion this year. The area includes Kamloops, Barriere, Clearwater, Merritt, Ashcroft, Cache Creek, Chase, Clinton, Lytton, Logan Lake and Sun Peaks. Homeowners in rural areas of the Thompson region could see changes in property values between -5% to +25% for residential single family homes.

A total of almost $388 million of the region’s updated assessments is from new construction, subdivisions and rezoning of properties.

Residents can also access their property assessment and compare 2018 property assessments for anywhere in the province online.