Property values in Kamloops saw a two percent increase, on average, according to the latest data from BC Assessment, which published its 2025 update in early January.

Kamloops’ typical assessed value for a single family residence went from $678,000 in 2023 to $693,000 in 2024.

That increase is typical for most areas in the Southern Interior. Sun Peaks saw a similar two percent increase, where typical property values have increased to $1.48 million. Kelowna saw a one percent decrease to a typical value of $938,000, and Penticton saw a two percent decrease to $693,000. Nearby Vernon was flat, with a typical assessed value of $721,000.

Ashcroft was the most significant outlier, seeing a seven percent increase to a typical assessed value of $416,000.

The data is based on 445,000 assessed homes in the Southern Interior, which is one percent more than last year. Assessments are done on July 1 each year.

All told, the total assessed value of all Southern Interior real estate was $323 billion, up three percent in total over last year. Construction, rezoning and subdivisions accounted for $5.3 billion of that increase.

BC Assessment deputy assessor Boris Warkentin said homeowners should keep in mind that a higher assessment doesn’t necessarily mean homeowners will pay more in property taxes.

“As noted on your assessment notice, how your assessment changes relative to the average change in your community is what may affect your property taxes,” Warkentin said.

At least 500 properties in the province were assessed at $12.5 million or more, with the vast majority located in the City of Vancouver. The highest assessment in the province is a single family residence valued at $82.7 million in the Kitsilano neighbourhood on Point Grey Road in Vancouver.

Kamloops does not appear in the list of top 500 assessed properties and Kelowna’s highest spot on the list is No. 320, a single family residence waterfront property on Hobson Road worth $14.4 million.