Local governments in Canada need revenue from property taxes to pay for a wide variety of public services, ranging from police and fire stations to schools, roads and sewers. This tax is imposed on various kinds of property and the primary source of revenue used to fund public services and each municipality has its unique tax formula. However, all property taxes in Canada are based on two critical factors: property value assessment (how much your property is worth) and the residential rate.
Here is a table breaking down the property taxes of each Canadian province:
Provinces | Residential Tax Rate | Taxes for your home's assessed value of $250,000 | Taxes for your home's assessed value of $500,000 | Taxes for your home's assessed value of $1,000,000 |
|---|---|---|---|---|
| British Columbia | ||||
| Vancouver | 0.28% | $700 | $1,400 | $2,800 |
| Kelowna | 0.52605% | $1,315 | $2,630 | $5,260 |
| Victoria | 0.44% | $1,100 | $2,200 | $4,400 |
| Abbotsford | 0.51300% | $1,283 | $2,565 | $5,130 |
| Alberta | ||||
| Calgary | 0.66% | $1,650 | $3,300 | $6,600 |
| Edmonton | 0.94% | $2,350 | $4,700 | $9,400 |
| Lethbridge | 1.11067% | $2,777 | $5,553 | $11,107 |
| Ontario | ||||
| Toronto | 0.67% | $1,675 | $3,350 | $6,700 |
| Burlington | 0.81519% | $2,038 | $4,076 | $8,152 |
| Ottawa | 1.06841% | $2,671 | $5,342 | $10,684 |
| Mississauga | 0.82348% | $2,059 | $4,117 | $8,235 |
| Waterloo | 1.10785% | $2,770 | $5,539 | $11,078 |
| Kitchener | 1.21% | $3,025 | $6,050 | $12,100 |
| Hamilton | 1.26196% | $3,155 | $6,310 | $12,620 |
| Guelph | 1.17125% | $2,928 | $5,856 | $11,713 |
| London | 1.35082% | $3,377 | $6,754 | $13,508 |
| New Brunswick | ||||
| Saint John | 1.78500% | $4,463 | $8,925 | $17,850 |
| Fredericton | 1.33% | $3,325 | $6,650 | $13,300 |
| Saskatchewan | ||||
| Saskatoon | 1.29% | $3,225 | $6,450 | $12,900 |
| Regina | 1.07445% | $2,686 | $5,372 | $10,745 |
| Quebec | ||||
| Montreal | 0.59% | $1,475 | $2,950 | $5,900 |
| Quebec City | 0.87780% | $2,195 | $4,389 | $8,778 |
| Newfoundland & Labrador | ||||
| St. John's | 0.91% | $2,275 | $4,450 | $9,100 |
| Nova Scotia | ||||
| Halifax | 1.12% | $2,800 | $5,600 | $11,200 |
| Manitoba | ||||
| Winnipeg | 2.64% | $6,600 | $13,200 | $26,400 |
From the table above, Vancouver boasts the lowest property tax rate in Canada. However, the city also has some of the most expensive homes, averaging above $1 million. On the other hand, Victoria has house prices averaging at $699,000, which is significantly lower, but its 0.52035% property tax rate is more than double what real estate owners pay in Vancouver.
In general, cities such as Vancouver and Toronto have high home values and low property taxes, while Fredericton, Winnipeg and other cities with low home values have some of the highest tax rates. However, there's a significant disparity across different cities. Toronto's property taxes, for instance, are almost triple what homeowners pay in Vancouver.
