A Comparison of Property Tax Rates – 2

A new report compares tax rates among Metro Vancouver municipalities. A common perception is that the District of North Vancouver has higher tax rates than the City of North Vancouver. The truth, per $1000 of assessed value is that the City’s taxes are slightly higher.

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The second report from the Altus Group on comparisons of property tax rates – this time just among Metro Vancouver municipalities:

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2014 Property Tax Rate Comparison Report 

A deeper analysis into local tax rates across the Lower Mainland.

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Commercial rates (Vancouver is fourth from left)

Local commercial

Click to enlarge

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Residential rates (Vancouver is second from left):

Local - residential

Click to enlarge

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Altus notes the qualifier picked up in the comments on the first post:

From a residential assessment standpoint, West Vancouver, Vancouver and Richmond preserve the lowest property taxes per $1000 of residential assessment, while Delta, New Westminster and Abbotsford have the highest. These municipalities also enjoy the highest residential assessed values. This means, in order to balance the municipal budget, a lower tax rate is needed on much larger taxing base.

Large tax bases and the highest assessed property values allowed Vancouver to decrease residential tax rates for the…

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