Fernie Leads the Way with Highest Property Assessments in Kootenays

Overall, the Kootenay Columbia region's total assessments increased from $38.6 billion in 2017 to $40.87 billion this year.

A timberframe home for sale in Fernie currently listed at $1,275,000 — Photo courtesy Fernie Real Estate Company

Based on the recently released BC Assessments for residential properties in the Kootenays, here is a Top 10 list of the communities with the top property values. Fernie has the highest residential property assessment value in the Kootenay.

Community                               Assessment Value        Percentage Increase

City of Fernie                                    $506,000                         +7.4%

District of Invermere                         $456,000                         +0.02%

City of Revelstoke                            $436.000                         +21.1%

City of Nelson                                  $413,000                          +9.3%

Village of Radium Hot Springs        $337,000                          +8.4%

District of Sparwood                        $309,000                          +4.4%

City of Rossland                              $303,000                          +11.8%

City of Cranbrook                            $298,000                          +3.5%

City of Castlegar                              $295,000                         +5.4%

District of Elkford                             $281,000                         +0.0%  

The communities of Village of Slocan ($167,000) and City of Greenwood ($141,000) had the lowest assessment values (most affordable housing) and of the larger municipalities in the Kootenays the City of Trail was the lowest in assessed value at $195,000 – again making the city with most affordable housing.

Overall, the Kootenay Columbia region's total assessments increased from $38.6 billion in 2017 to $40.87 billion this year. A total of almost $460 million of the region's updated assessments is from new construction, subdivisions and rezoning of properties. BC Assessment's Kootenay Columbia region covers the southeast portion of the province from Fernie to Grand Forks and from Revelstoke to Cranbrook.

During the month of January, office hours (Nelson and Cranbrook) are 8:30 a.m. to 5:00 p.m., Monday to Friday. Property owners can contact BC Assessment toll-free at 1-866-valueBC (1-866-825-8322) or online at bcassessment.ca