H & S Real Estate Group
Vancouver property tax is an annual property tax paid to the city of Vancouver. The city of Vancouver property tax is determined by your property’s BC assessment value, multiplied by a tax rate. Each year, the Vancouver city council sets a new Vancouver property tax rate. Please note thatThe city of Vancouver property tax is different from the Vancouver empty home tax and Vancouver foreign buyer tax.
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Use this Vancouver property tax calculator to find out how much is your Vancouver property tax in 2020. Just enter your Vancouver home’s BC Assessment value, and the calculator will automatically calculate your 2020 Vancouver property tax.
When British Columbians own, lease or gain an interest in a property, for example, land, home, etc., located in BC, they must pay property taxes. Generally, when you buy a property in BC, you must pay a one-time property transfer tax. While owing the property, you pay an annual property tax to the municipal government.
There are many different types of BC property taxes. Below are the different kinds of property taxes in BC, depending on where your property is located.
Vancouver’s average property tax varies depending on your property’s BC assessment value and Vancouver property tax assessment.
Vancouver’s property tax rate is one of the lowest in North America, at just $2.93 per $1,000 in assessed value in 2020 – or 0.29 percent.
| Levy (per $1000 taxable value) | 2020 |
|---|---|
| General Purpose Tax Levy | $1.58076 |
| Provincial School Tax | $0.99877 |
| TransLink | $0.25337 |
| BC Assessment Authority | $0.04288 |
| Greater Vancouver Regional District | $0.04970 |
| Municipal Finance Authority | $0.00020 |
| TOTAL | $2.92568 |
| Property value | 2020 |
|---|---|
| $0- to $3-million | $0.00000 |
| $3- to $4-million | $2.00000 |
| $4-million or more | $4.00000 |
The amount of property tax in Vancouver varies, depends on the property’s assessed value and the Vancouver property tax rate.
Your Vancouver property tax amount in 2020 is dependent on your property’s assessed value. To find out your Vancouver property tax in 2020, please visit the city of Vancouver property inquiry website. This page allows you to view your property tax and utility balance. You don’t need to log in or register to check your 2020 Vancouver property tax.
How is property tax calculated in Vancouver, BC?
The Vancouver property tax is based on the assessed value of your property. Please be aware that the assessed value can differ considerably from the market value of your property. Your final Vancouver property tax amount is calculated by multiplying the Vancouver property tax rate from the previous year’s BC Assessment value.
For example, if your property is assessed at $500,000 as of July 1st of the previous year. Since the property tax rate applies to each $1,000 of taxable assessed value, you must divide your property’s assessed value by $1,000. Afterwards, you multiply that number by your property class’s property tax rate to determine your property taxes. See the below example.
Source: BC Assessment
Please note that additional school tax may apply if your property is valued at $3 million or more. Please visit BC government’s school tax website.
Properties in UBC, University Neighbourhood Association, or University Endownment Land are not subject to Vancouver property tax. If you own a UBC property or in the surrounding area, you may need to pay the UBC levy and BC rural property tax instead.
The information on this page is for information purposes only. For specific questions about property taxes, please consult your municipality or taxing authority.
Please contact me if you have any questions regarding your Vancouver Property Tax in 2020.
Sam Huang PREC
H & S Real Estate Group
Real Estate Coal Harbour
RE/MAX Select Properties
Address: 5487 West Boulevard, Vancouver BC V6M 3W5, Canada
Phone: 778-991-0649
WeChat: ubchomes
QQ: 2870029106
Email: Contact Me