BC Housing Assessments released for Southern Interior
By Lone Sheep Publishing
While most Kootenay Columbia communities are seeing an overall increase in assessed property values, such as Castlegar (+six per cent) and Trail (+seven per cent), only two (Rossland and Sparwood) saw a zero per-cent increase. The only community in the region to see a decrease is the Village of Slocan, with values down three per cent.
Nelson will see a two per cent hike, while the District of Elkford boasts the highest spike in values at +11 per cent. Salmo is set to go up two per cent while Warfield will go up by a single percentage point.
The Typical Assessed Value of a home (as of July 1, 2024) in Castlegar is $520.000, in Trail, $376,000, in Rossland, $616,000, and in Nelson, $681,000.
(For statistics regarding other Southern Interior communities, go to Southern Interior 2025 Property Assessments Announced ).
The 2025 property assessments, which reflect market value as of July 1, 2024, have been announced for property owners of nearly 445,000 properties throughout the Southern Interior. The updated property values are now available at bcassessment.ca in addition to 2025 Property Assessment Notices being mailed to each property owner.
“For 2025, most homeowners can expect generally flat property assessment value changes in the minus five per cent to + five per cent range for many Thompson Okanagan communities while homeowners in Kootenay Columbia areas may see a higher rate of change in the zero to 10 per cent range,” says Deputy Assessor Boris Warkentin. “For property owners throughout the Southern Interior, there may be a delay in receiving your 2025 Assessment Notices due to ongoing Canada Post backlogs, but anyone can check updated values at bcassessment.ca, using our online property search service.”
As B.C.’s provider of property assessment information, BC Assessment collects, monitors and analyzes property data throughout the year.
Overall, the Southern Interior’s total assessments increased from about $315 billion in 2024 to nearly $323 billion this year. A total of about $5.29 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties.
BC’s Southern Interior region includes the main urban centres of Kelowna, Kamloops, and Cranbrook as well as all surrounding Okanagan, Thompson, and Kootenay Columbia communities as listed below.
As in past years, an increase in your assessed property value does not necessarily mean an increase in your property taxes – rather, it determines what portion of a community’s tax base is the responsibility of a given property owner. If, for example, your assessment increase is the same as that of all other properties in your community, your property taxes will only increase if your council/regional district increase tax rates in the spring.
