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Tax Rates
Tax rates in Keremeos have decreased each year over the past four years. This decrease is an indication that the finances of the Village are well-managed. Property values in Keremeos have risen over the four year period, but not as quickly as in the Lower Mainland or Okanagan Valley. Increased values have enabled the Village to decrease tax rates while maintaining services.
In order to get comparable figures on the cost of taxes, the tax rate and average assessed value must be used to calculate the tax paid on similar properties. In the table below, Keremeos’s tax rate is compared to other municipalities and the costs of taxes for a representative home and one hectare of industrial land are shown.
Comparison of Municipal Tax Rates and Taxes Paid: 2007 ($ per $1000 assessed value)
Source: BC Ministry of Community Development. * Cost of land per hectare from real estate agent estimates
The relatively low tax cost on residential property is attractive to families moving to the area for employment. The very low cost of light industrial land and a very low tax rate make purchasing land in Keremeos very attractive.
$2025
Oliver
6.86660
19.08420
20.14020
2287
$10,500
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