Kamloops property taxes jump by 9.55%

Property owners in Kamloops will be faced with a higher tax bill this year. The new rate was adopted at a May 14 meeting, where City council gave a unanimous approval to a 9.55 per cent tax increase. That's down from what was initially floated to be an 11% increase https://infotel.ca/newsitem/kamloops-homeowners-are-looking-at-a-nearly-11-tax-hike/it101789...

Property owners in Kamloops will be faced with a higher tax bill this year. The new rate was adopted at a May 14 meeting, where City council gave a unanimous approval to a 9.55 per cent tax increase. That's down from what was initially floated to be an 11% increase https://infotel.ca/newsitem/kamloops-homeowners-are-looking-at-a-nearly-11-tax-hike/it101789 until council cut some costs, but it is the largest increase in several years. https://infotel.ca/newsitem/inflation-and-asset-management-behind-big-tax-hikes-in-the-okanagan-kamloops/it102350 Property taxes were increased by 6.8% last year and 4.9% in 2022, with less than 4% increases in the previous three years. The new rate for each home will vary, however, and property owners can check the City's tax estimator tool https://www.kamloops.ca/city-services/property-taxes/property-tax-estimator to get an idea of how much more they will be from last year. According to the City's website, the assessed value of the average Kamloops home is $636,878, down from $644,095 in 2023. Property taxes are due on July 2. To contact a reporter for this story, email Levi Landry mailto:llandry@infonews.ca or call 250-819-3723 or email the editor mailto:news@infonews.ca . You can also submit photos, videos or news tips to the newsroom mailto:tips@infonews.ca and be entered to win a monthly prize draw. We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here https://infotel.ca/newsletter .