BC Assessment sees moderate increases in Okanagan

With the calendar flipped over to 2018, BC Assessment has released its annual residential property assessments.

In Kelowna, those are up 17% over last year, with homes having an average value of $725,000.

Lake Country also saw an increase of 17%, while assessments in Peachland were up 16%, and rose 15% in West Kelowna.

The agency is also reminding people that homes are appraised based on their value last July 1, and that homes affected by flooding and fire were assessed based on that.

As for the Okanagan's highest appraisals, a home on Hobson Road came in at over $10 million, to lead the way.

The top five is rounded out by West Kelowna properties on Pritchard Drive and Whitworth Road, a Lake Country home on Pixton Road, and a house on Kelowna's Fuller Road that's worth nearly $8 million.

But that doesn't even rank in the province's top 500 homes, the vast majority of which are in the Vancouver area.

The number one spot is held by Lululemon founder Chip Wilson - his Kitsilano mansion is valued at nearly $79 million.

Anyone wanting to appeal their assessment must file a notice of complaint by the end of January.