Property Tax Estimator KELOWNA

Property Tax estimator -Kelowna Values shown for 2008 are estimates* only. Final taxes will be calculated once tax policies have been decided and after 2008 budgets are approved by the School Board, Regional District, BC Assessment, Hospital and the City, in May 2008. Residential assessments for the City of Kelowna have increased on average by 17% which would result in an estimated 4.5% increase in the total tax levy. 2007 2008 Difference Change Assessed Value $500,000 $561,500 $61,500 12.3% Tax Levies School $1,081.70 $1,066.68 ( $15.02) - 1.4% Municipal $1,772.45 $1,792.93 $20.48 1.2% Regional District $160.85 $158.62 ( $2.23) - 1.4% BC Assessment $33.85 $33.35 ( $0.50) - 1.5% Hospital $145.95 $143.91 ( $2.04) - 1.4% SIR Program $13.93 $13.73 ( $0.20) - 1.4% Total Tax Levy $3,208.73 $3,209.22 $0.49 0.0% Note: Total taxes shown are for the taxable portion of your property's assessment and do not include local services taxes (specified area charges, parcel taxes, garbage and landfill charges) or any reductions for Home Owner Grants. *2008 values are estimated and valid only for residential properties (Class 01). Estimates assume a 5.66% municipal tax rate increase and 3% tax rate increase for other taxing authorities. The City has no information at this time regarding the actual tax requirements for other taxing authorities. ---------------------- Don Quixote Note: I have plugged in 12.3% assessment increase to produce a property tax increase of $0. (For illustration only). Handy little calculation tool that Vernon should acquire from Kelowna and put on the Vernon website after plugging in applicable Vernon and regional parameters.