The Tolko Mill in Kelowna as seen from the air. - Image: Kevin Parnell/Capital News

Tolko Mill sees assessment dropped by millions

Tolko saw its Kelowna assessment from more than $7 million but city says no impact to taxpayers

A successful challenge of its annual property assessment for its Kelowna operations by lumber company Tolko will not have a major impact on city taxpayers says city hall.

The company, which operates a mill on the lakeshore in the city’s North End saw its assessment for 2017 drop to $14.2 million from $21.4 million in 2016 following an appeal.

But according to Angie Schumacher, revenue supervisor for the City of Kelowna, a policy in place for many years protects residents from the impact of major changes in assessments for large industrial taxpayers.

In other words, residential home owners will not have to “make up” the difference, she said.

The tax distribution policy is set up to make sure that is the case.

Schumacher said the city’s annual budget is based on the cost of running the city and paying for required and desired services, amenities and facilities. And large increases and decreases in assessments do not mean the same percentage hike in residential taxes.

This year, city council approved an average residential tax increase of 3.84 per cent. Most of the increase was attributed to the cost of the new $48 million police services building on Clement Avenue.

According to B.C. Assessment, the average residential assessment in the city increased jumped by about 14.2 per cent this year.

Just Posted

Update: Wildfire near Peachland grows to 500 hectares, structures threatened

Peachland - Evacuation orders have been issued for Brent Road and Highway 97 South properties

Updated: Complete list of B.C. Interior wildfire coverage

Up-to-date information on blazes happening the Kamloops Wildfire Centre

Kelowna Riding Club offers up stalls for evacuees

75 stalls available for horse owners who are threatened by fires

Mount Conkle wildfire near Summerland hits 80 hectares

Lightning-caused fire near Summerland now at estimated size of 80 hectares

Chase RCMP request help locating missing First Nations girl

Shayna Ignace was last seen at 5 p.m. Wednesday, July 18 in the Shuswap

Update: Wildfire near Peachland grows to 500 hectares, structures threatened

Peachland - Evacuation orders have been issued for Brent Road and Highway 97 South properties

B.C. to add hundreds of taxis, help cab companies modernize

Ride hailing companies can apply by the fall of 2019

BC Summer Games ready to begin on Vancouver Island

More than 2,000 athletes will compete in 18 sports from Friday to Sunday

Plenty of heroes in Thai cave rescue, says B.C. diver

Erik Brown reflects on team effort that brought 12 boys and their coach to safety

Dental crew brushes back Gray Monk

North Okanagan Women’s Soccer Association roundup

Gallie going for gold at Games

Vernon 16-year-old a slugger with Zone 2

Chase RCMP request help locating missing First Nations girl

Shayna Ignace was last seen at 5 p.m. Wednesday, July 18 in the Shuswap

Funding available to replace infected B.C. hazelnut trees

B.C. Hazelnut Growers to recieve $300,000 over three years to battle eastern filbert blight

Woman charged after eight dogs seized from hotel room

Sixteen dogs recently seized from Adams and her daughter in Quesnel

Most Read