|
[ Home > Regional
Profile > Real Estate ]
Real
Estate
Real Estate
The North Okanagan offers businesses and individuals a variety
of available and very affordable real estate options. The North
Okanagan region has prime residential housing and
serviced commercial space available.
Across the North Okanagan
, the
average residential listing price in 2009 was $368,000.
| AVERAGE RESIDENTIAL COSTS (2009) |
| Single-Family
Residence |
$368,485 |
| Townhouses |
$286,131 |
| Apartments |
$177,338 |
| Commercial |
$671,809 |
Source: Okanagan Mainline Real Estate Board
Updated January 2010
For Information on available residential real estate contact the Okanagan Mainline Real Estate
Board.
[ Back to Top ]
Property Taxation
Property taxation rates are based on regulations covered by the
provincial Municipal Act. The BC Assessment Authority provides
the assessment on real property for taxation purposes. Annual
property taxes cover the period January 1 to December 31.
BC Assessment Authority
2820 28th St.
Vernon, BC
Ph: (250) 545-2171
Fax: (250) 545-5603
Toll free: 1-800-990-1191
Homeowners can claim a provincial Home
Owner Grant for their residence
Property tax rates are either quoted as an average rate between
land and improvements or have distinct separate rates. In the
case of separate rate, the land mill rate applies only to the
value of the land and the improvements only to the assessed value
of the improvements/structures. Where the rates have been averaged
please be advised that the rates can vary slightly, since they
are dependent on the relative mix of land and improvements.
For more detailed information on property taxes, please contact
the Tax Department of the various municipalities:
Vernon
, Coldstream, Armstrong, Enderby,
Lumby, Spallumcheen.
[ Back to Top ]
Commercial Leasing
Commercial leasing of space involves many different factors including location, type of space, zoning, etc. Due to government downsizing and private sector efficiencies and rationalization, there is an abundance of office and commercial service space available in the North Okanagan. For information on commercial leasing availability, contact Royal LePage - Downtown Reality at (250) 545-5371
[ Back to Top ]
Industrial Land
Light industrial land is available for production industries depending on particular needs of a business. Industrial real estate is available in limited quantities in the Greater Vernon. In-service properties are available in several parcels throughout the region at an average cost of $90,000 per acre. Serviced industrial property is available in limited quantity in Vernon, Spallumcheen Industrial Park (15 kms/10 miles north of Vernon), and in Lumby Industrial Park (24 kms/18 miles east of Vernon) at an average cost of $125,000.
[ Back to Top ]
Building
In 2008 there were 639 Residential Building permits issued with a value of $174,879,000. In that same time Non-Residential building permits issued had a value of $90,757,000.
Updated January 2010
[ Back to Top ]
|
