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 $4,165, or $347 a month. That comes from the 464 of 1,461 active listings that state an amount, which is 32% of them. Treat it as a guide, not as your future bill.
- Median annual
- $4,165
- Per month
- $347
- Listings stating one
- 464 (32%)
- Cities shown
- 11
Why this page is more cautious than the others
Only 32% 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
- Vancouver 160 of 536 state an amount $5,698
- Burnaby 39 of 138 state an amount $5,363
- Delta 20 of 46 state an amount $4,917
- Richmond 21 of 105 state an amount $4,379
- Coquitlam 15 of 95 state an amount $4,349
- North Vancouver 17 of 38 state an amount $4,200
- Surrey 63 of 175 state an amount $3,711
- Langley 38 of 91 state an amount $3,537
- Mission 26 of 51 state an amount $3,135
- Chilliwack 10 of 20 state an amount $2,600
- Abbotsford 30 of 56 state an amount $2,208
Measured across 464 listings that state a tax amount on .
Regional figure: $4,165.
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 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 $4,165 a year, $347 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.
How many listings actually state a property tax amount?
464 of 1,461 active listings, which is 32% of the market this hub tracks. That is the thinnest field coverage used anywhere in this hub, which is why every figure here is presented as a guide rather than a guarantee.
What does property tax actually pay for?
The bill covers the municipal rate plus levies for the region, transit, schools, and other shared services, all multiplied against the assessed value of the property. Two homes with the same assessed value in the same city pay the same total, regardless of what either owner paid to buy the home.
When is a property assessed for tax purposes?
BC Assessment values every property as of July 1 of the previous year. A home finished shortly before or after that date may still be assessed as bare land or as the previous structure, which is one reason the tax amount on a new listing can understate what the bill will be once the completed building is assessed.
Where these figures come from
- VanPlex active listings, MLS® data
Active townhouses, half duplexes, and row houses built in the last two years across Metro Vancouver and the Fraser Valley.
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- BC Assessment
Assessed values, which drive the municipal property tax bill.
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- Government of BC, home owner grant
Reduces annual property tax on a principal residence, subject to an assessed value threshold.
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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.