Vancouver named Canadian city with lowest percentage property taxes (INFOGRAPHIC)

But we all know what a smaller percentage of a much-larger assessed value means…

By
Glacier Media Real Estate
July 31, 2018





zoocasa property tax infographic cropped
Source: Zoocasa

In a real estate market with the highest property transfer taxes in Canada, where it takes 20 years to save for a down payment, Vancouverites need to take wins where they can find them.

Better news comes in the form of a new study by real estate website Zoocasa, which surveyed 25 major Canadian cities and found that Vancouverites pay the lowest property tax rate in the country.

Vancouver property taxes are 0.24683 per cent of assessed value, which is less than half that of the second-lowest city, Abbotsford, which has a rate of 0.51300 per cent.

Zoocasa found the four cities with the lowest property tax rates were all in B.C., with Victoria at 0.52035 per cent and Kelowna at 0.52605 per cent. No other B.C. municipalities were included in the study.

However, as Zoocasa pointed out, “Living in a region with a low tax rate doesn’t necessarily translate to less tax paid, if average home prices are higher.”

zoocasa property tax infographic
Source: Zoocasa

 

 

 

 


Joannah Connolly is editorial director of Glacier Real Estate, Glacier Media's real estate division. Joannah writes and curates real estate news for Glacier Media's local newspaper websites, including the Vancouver Courier, Times Colonist, Prince George Citizen, North Shore News, Burnaby Now, Tri-City News and others. She also oversees editorial content in Real Estate Weekly Homes, West Coast Condo, Western Investor and Glacier's special real estate publications. A dual Canadian-British citizen, Joannah has 22 years of journalism and editing experience in Vancouver and London, with a background in construction, architecture, healthcare and business media. Joannah has appeared on major local TV outlets as a real estate commentator, has moderated and spoken on various industry panels, and spent two years hosting the Real Estate Therapist radio show on Roundhouse Radio.
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