Homeowners and renters in six of Canada’s ten major centres have borne the largest share of property tax than businesses but Vancouver has gone the other way.
A report from the Altus Group reveals that Vancouver residents paid $2.55 per $1000 of value in 2017 while the commercial rate was $12.55 per $1000, the highest rate in Canada.
That means that the ratio between residential and commercial property taxes in Vancouver was 4.87, up from 4.38 in 2016.
Toronto is second with commercial rates 3.81 times residential, followed by Montreal (3.77), Halifax (2.77), Calgary (2.73), Ottawa (2.67), Edmonton (2.44), Winnipeg (2.01), Regina (1.73) and Saskatoon (1.72).
Residential taxes were reduced in many cities due to the larger tax base and higher property values. Toronto decreased residential tax rates for the ninth consecutive year and Vancouver has seen 14 years of decreasing taxes.
Calgary, Edmonton, Winnipeg and Ottawa saw an increase in residential rates in 2017 while Montreal’s remained relatively stable.
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