BC Assessment has mailed assessment notices to property owners across Penticton. For 2026, the average residential property value in the city increased by 0.1 per cent.
The City of Penticton reminds residents that a change in their property’s assessed value does not automatically result in the same percentage change to their property taxes.
Each year, the City adopts a budget that sets the total amount of property tax revenue needed to fund essential community services. While individual property assessments may increase or decrease, the total amount of property tax collected citywide remains fixed at the budgeted amount.
To achieve this, tax rates are adjusted annually before May 15 so that only the budgeted amount of property tax revenue is collected. How this affects an individual property depends on how its assessment change compares to the citywide average:
If your property assessment increased by 0.1 per cent, your municipal property tax change will generally align with the overall budgeted tax rate change.
If your assessment decreased, or increased by less than 0.1 per cent, your tax increase will likely be lower than the budgeted rate change.
If your assessment increased by more than 0.1 per cent, your tax increase will likely be higher than the budgeted rate change.
Property owners who have questions or concerns about their assessed value are encouraged to contact BC Assessment directly. Requests for a review must be submitted by Jan. 31, using the contact information provided on the assessment notice.
For more on BC Assessment Notices, click here .