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Asked by: Arnette Dresselhaus
personal finance personal taxesHow much is the property tax in BC?
Levy (per $1000 taxable value) | 2019 | 2018 |
---|---|---|
BC Assessment Authority | $0.03970 | $0.04147 |
Greater Vancouver Regional District | $0.04164 | $0.04353 |
Municipal Finance Authority | $0.00020 | $0.00021 |
TOTAL | $2.56116 | $2.46826 |
Keeping this in view, how are property taxes calculated in BC?
Since the property tax rate applies to each $1,000 of taxable assessed value, you must divide the assessed value of your property by $1,000. Next, multiply that number by the property tax rate for your property class to determine your property taxes.
In this regard, how much are property taxes in Vancouver BC?
Vancouver's property tax rate is, in fact, the lowest in North America, at just $2.56 per $1,000 in assessed value — or 0.26 per cent.
That never stops and, in all likelihood, will rise over time. The thing is: The services that your taxes pay for don't stop. In many areas, much of the property tax goes to fund the schools. The schools have to remain open.