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.
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