Kelowna’s finance department proposes tax breaks for property owners facing steep assessment hikes in 2023. Around 420 properties, including residential, industrial, and business zones, saw values surge by more than 30% due to upzoning. To mitigate the impact, recommendations include deferring late payment penalties for businesses and offering a one-time grant to eligible residential owners. The proposals aim to ease the burden for property owners without significant financial strain to the city. The delayed business taxes would cost the city approximately $1.8 million in missed investment opportunities, while the residential grant would have a much smaller impact. City council is expected to consider both options.