Who is paying Canada's Highest Property Taxes?
Homeowners in some of Canada’s most expensive real estate markets pay some of the country’s lowest property tax rates, and vice versa.
The Real Property Association of Canada (REALpac) has released new numbers on property tax rates across the country, and of major cities surveyed, Vancouver came in with the lowest property tax rate.
Vancouverites typically pay $3.68 per year in taxes for every $1,000 of assessed home value. Compare that to residents of Regina, who pay $13.69 for every $1,000 of home value.
But the tax rate is just part of the story; ultimately what you pay depends on your home’s assessed value.
So we took REALpac’s numbers and crunched them with the Canadian Real Estate Association’s estimates of average house prices. That gives us an approximate idea of what an average property tax bill will look like in Canada’s major cities after the next round of assessments.
And guess what? Vancouver still comes out as the lowest property tax jurisdiction. The average property tax bill there works out to $2,322 per year.
So residents of Vancouver, where the average house price including condos is $631,000, pay on average about half as much property tax as residents of Saskatoon, where a home averages $353,000.
Saskatoon thus has the dubious honour of having the highest average property tax among major cities in Canada — $4,440, by our calculations. Ouch
Here are the estimated average property tax bills for major Canadian Cities:
Vancouver - $2,322
Montreal - $2,704
Calgary - $2,830
Edmonton - $2,947
Winnipeg - $3,347
Halifax - $3,875
Toronto - $3,947
Ottawa - $4,057
Regina - $4,065
Saskatoon - $4,440
Via Huffington Post