Princeton is one of the cheapest places to buy a home in the area.
According to the provincial finance branch, the average assessed value of a single family home here was $192,184 in 2017.
That number compares to Keremeos, at $241,681, Merritt at $241,089, and is less than half the value of a property in Osoyoos - $409,677.
“Try buying a house on the coast for $192,184,” quipped James Graham, Chief Finance Officer for the municipality.
“Princeton has some of the lowest house values in the province, not just in the Similkameen.”
The lower assessment also equates to lower taxes for Princeton residents, said Graham.
In the same year local enjoyed lower school taxes, municipal taxes and Regional District taxes than homeowners in Keremeos, Osoyoos, Oliver, Hope, and Merritt. Princeton ratepayers also paid the least in total residential property taxes and charges.
“We are one of the most affordable places in the Okanagan Similkameen to live and we want it to stay that way.”
In 2019 municipal taxes increased by five per cent.
“Some of the rates will have to go up by we are really hoping to keep a fair and balanced approach on this.”
Graham said he believes housing values are starting to rise however.
“From a personal stand point values have increased. Asking prices are starting to increase in general.”
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