Property taxes in Kelowna are based on assessed value and municipal tax rates. While rates can change annually, a common estimate is approximately $4.40 per $1,000 of assessed value. For a home valued at $1 million, that translates to roughly $4,400 per year, before any exemptions.
Actual tax bills vary depending on location, school taxes, and regional district levies. Homeowner grants may reduce taxes for eligible residents, particularly seniors.
Because assessments don’t always reflect current market value, taxes can lag behind price changes. Reviewing your annual tax notice carefully helps avoid surprises.
For homeowners looking to estimate future ownership costs, Anthony Shephard of 2% Realty can help interpret assessments and local tax trends.
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