The 2021 property valuation that you will receive in the mail over the next few days will likely show that your home is worth about 3% more and your property taxes will increase by 4.2%.

“Assessment and taxation are two separate things and a complicated relationship,” said Angie Schumacher, revenue supervisor for the city of Kelowna.

For this reason, a 3% jump in assessment does not lead directly to a 3% increase in property tax, but instead serves as the basis for determining the tax rates.

BC ratings show that the typical estimated value of a single family home in Kelowna is $ 650,000 in 2021, up 3% from $ 629,000 last year.

</who>Kelowna property tax on a home valued at $ 650,000 this year is estimated at $ 3,469, up $ 140, or 4.2%, year over year. “Src =” https://www.kelownanow.com/files/files/images/assessed%20house. jpg “/></p> <p>The typical estimated value of a shift home (condo and townhouse) in Kelowna in 2021 is $ 372,000, up 2% from $ 364,000.</p> <p>These values ​​are based on estimates made on July 1st.</p> <p>That was half a year ago, and the Kelowna real estate market has been hot all along, which means values ​​have risen.</p> <p>Also, the market value or what you can sell your home for tends to be higher than its estimated value.</p> <p>For example, statistics from the Okanagan Mainline Real Estate Board show that the average sales price of a detached single family home in central Okanagan was $ 857,000 in November, well above the typical estimated $ 650,000.</p> <p>Board numbers put the average November condominium and townhouse sales at $ 361,100 and $ 583,900, respectively, while BC Assessment puts the two in the shift category with a typical value of $ 372,000.</p> <p>“Market value and appraised value are different, but they are related,” said Tracy Wall, associate valuer, Thompson Okanagan.</p> <p>“The market is very fluid and we saw that in 2020. I’ve been doing this job for a long time and it’s definitely been an interesting year. The market stalled when COVID first hit in March and April but has waned recovered and grown rapidly since then. “</p> <p>The property tax estimate tool on the City of Kelowna website shows that a home valued at $ 650,000 is expected to generate a tax burden of $ 3,469 by the end of May, which must be paid by July 2.</p> <p>That’s a 4.2% tax increase based on the 2020 bill for a home that was estimated at $ 629,000, which is $ 3,329.</p> </p> <p>Typical estimates for single family homes in other Thompson Okanagan communities for 2021 are as follows: Year-over-year percentage increases in parentheses: West Kelowna $ 632,000 (4%), Lake Country $ 673,000 (7%), Peachland $ 590,000 (3%) ), Kamloops USD 488,000 (6%), Vernon USD 479,000 (3%), Penticton USD 479,000 (2%), Summerland USD 517,000 (minus 2%), Osoyoos USD 433,000 (1%), Oliver USD 416,000 (7%) and Coldstream $ 606,000 (4%).</p> <p>BC Assessment’s annual publication also includes lists of the top rated homes in the Thompson Okanagan and across BC.<br />On site, the waterfront home is 1.3 acres at 12990 Pixton Rd. In Lake Country and was valued at $ 10.7 million. BC Assessment’s annual publication also includes lists of the top rated homes in Thompson Okanagan and across BC.</p> <p>An internet search reveals that it is a 13,178-square-foot, five-bedroom, seven-bathroom property with a pool and beach.</p> <p>According to Redfin.ca, it was bought by the current owner for $ 12 million in August 2019.</p> <p>In all of BC, the largest estimate of $ 66.8 million for the mansion was at 3085 Point Gray Rd. In Vancouver’s Tony Kitsilano neighborhood.</p> <p>Owned by Lululemon founder Chip Wilson, it has seven bedrooms, nine bathrooms, a landscaped courtyard, tennis court and swimming pool.</p> <p></p> <p style=

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