VANPLEX
David Babakaiff
Written by David Babakaiff — Co-Founder, VanPlex | 25+ Years BC Construction

The Cost of Owning | Property Tax

What you will pay in property tax

Measured from what active listings actually state, with an honest account of why that number is weaker evidence than the price and size figures elsewhere in this hub.

The short answer

The median annual property tax stated on a newly built ground-oriented home in the region is $4,097, or about $341 a month. That comes from the 421 of 1,394 active listings that state an amount, which is 30% of them. Treat it as a guide, not as your future bill.

Median annual
$4,097
Per month
$341
Listings stating one
421 (30%)
Cities shown
11

Why this page is more cautious than the others

Only 30% of active listings state an annual property tax amount, the thinnest coverage of any field used across this hub. That alone would call for care.

There is a second problem specific to new homes. A home finished in the last year or two may not have been assessed as a completed building yet, so the amount on the listing can reflect the bare land or the house that stood there before. That pushes the stated figure down in a way that has nothing to do with what you will pay.

So use these numbers to compare cities against each other, which is what they are good for, and get your actual figure from BC Assessment and the municipality before you rely on it in a budget. Cities where fewer than eight listings state an amount are left off entirely.

Median annual property tax by city

  • Burnaby 35 of 118 state an amount $5,720
  • Vancouver 148 of 515 state an amount $5,462
  • Coquitlam 11 of 86 state an amount $4,780
  • Delta 18 of 41 state an amount $4,634
  • North Vancouver 18 of 47 state an amount $4,036
  • Surrey 66 of 175 state an amount $3,783
  • Langley 32 of 92 state an amount $3,432
  • Richmond 20 of 92 state an amount $3,308
  • Abbotsford 21 of 55 state an amount $3,075
  • Mission 16 of 42 state an amount $2,858
  • Chilliwack 10 of 18 state an amount $2,600

Measured across 421 listings that state a tax amount on .

Regional figure: $4,097.

How the bill is actually calculated

Your bill is the assessed value of the property multiplied by the rate the municipality sets, plus levies for the region, transit, schools, and other shared services. Two things follow from that.

First, the bill follows the assessed value, not the price you paid. BC Assessment values every property as of 1 July of the previous year, and your purchase does not reset it. Two neighbours who paid very different prices in different years can have near-identical bills.

Second, a low municipal rate does not mean a low bill. A city with high assessed values and a low rate can easily bill more than a city with the opposite. Compare the dollar amount, which is what the chart above shows.

The home owner grant reduces the bill on a principal residence, subject to an assessed value threshold above which it phases out. It has to be claimed each year, and it is not applied for you.

Common questions

How much is property tax on a townhouse in Metro Vancouver?

The median stated on active newly built listings is $4,097 a year, about $341 a month. It varies by city because each municipality sets its own rate, and by home because the bill follows the assessed value rather than the price you pay.

Why should I not rely on the figure in a listing?

Two reasons. A newly built home may not have a full year of assessment behind it yet, so the stated amount can reflect the land before the home existed. And the figure is for the current owner, whose home owner grant status may differ from yours. Confirm the assessed value with BC Assessment and the rate with the municipality.

What is the home owner grant?

A provincial reduction on the property tax bill for a principal residence, subject to an assessed value threshold above which it phases out. It is not automatic. You have to claim it each year, and in a region with high assessed values plenty of homes sit above the threshold.

Does property tax go up after I buy?

The bill follows the assessed value and the municipal rate, both of which change annually and independently of your purchase. Buying does not reset the assessment to your purchase price, but a newly completed home usually sees its assessment rise once the finished building is assessed rather than just the land.

Is property tax higher in Vancouver than in Surrey?

The rate and the assessed value pull in opposite directions, so the answer is not a simple yes. Vancouver has historically had one of the lower residential rates in the region applied to some of the highest assessed values. Compare the actual dollar bill rather than the rate.

Where these figures come from

See the homes behind these numbers

Every figure on this page comes from listings you can open. Search the full set of newly built townhouses, half duplexes, and row houses, and filter by price, bedrooms, freehold or strata, pets, and parking.

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