What is the property tax rate in Vancouver?

Vancouver's residential property tax rate for 2026 is approximately 0.27% — the lowest in Canada. Despite this low rate, annual taxes can exceed $5,000 due to high assessed values.

Why is Vancouver property tax rate so low?

Vancouver has the highest property values in Canada. Even at 0.27%, a $1.5M home pays $4,050 annually. The city generates sufficient revenue without needing a higher rate.

How much is property tax on a $2 million home in Vancouver?

At 0.27%, annual property tax on a $2 million assessed home in Vancouver is approximately $5,400 ($450/month).

When is Vancouver property tax due?

Vancouver property tax is due by early July each year. A 5% penalty applies to late payments. Pre-authorized monthly payment plans (TIPP) are available.

Vancouver Property Tax 2026 | Tax Rate & Calculator

Vancouver Property Tax 2026

Vancouver has the lowest property tax rate in Canada at approximately 0.27%.

Component	Details
Residential tax rate	0.27%
Per $1,000 assessed value	$2.70
Assessment authority	BC Assessment
Assessment frequency	Annual

Vancouver Property Tax Calculator

Assessed Value	Annual Tax	Monthly
$800,000	$2,160	$180
$1,000,000	$2,700	$225
$1,250,000	$3,375	$281
$1,500,000	$4,050	$338
$1,750,000	$4,725	$394
$2,000,000	$5,400	$450
$2,500,000	$6,750	$563
$3,000,000	$8,100	$675

Vancouver vs BC Cities

City	Tax Rate	Tax on $1M	Difference
Vancouver	0.27%	$2,700	—
Burnaby	0.36%	$3,600	+$900
Richmond	0.38%	$3,800	+$1,100
Surrey	0.39%	$3,900	+$1,200
Coquitlam	0.41%	$4,100	+$1,400
Victoria	0.52%	$5,200	+$2,500

Additional Vancouver Levies

Beyond basic property tax, Vancouver homeowners may pay:

Levy	Rate/Amount
Metro Vancouver regional	Included in rate
TransLink transit	Included in rate
BC Assessment levy	Included
Empty Homes Tax	5% of assessed value (if vacant)
Speculation Tax	0.5-2% (if applicable)

Vancouver Empty Homes Tax

Owner Status	Tax Rate
BC resident (not vacant)	0%
Vacant home	5% of assessed value
Canadian (not living in BC)	Speculation tax may apply
Foreign owner	Additional taxes apply

On a vacant $2M home: $100,000/year in Empty Homes Tax alone.

Vancouver vs Calgary Deep Dive

Metric	Vancouver	Calgary
Tax rate	0.27%	0.66%
Avg home value	$1.5M	$600K
Tax on avg home	$4,050	$3,960
Tax comparable	Similar $	Similar $

Despite rates differing by 2.4×, actual taxes paid are similar due to home values.

BC Assessment

Feature	Details
Assessment date	July 1 each year
Notices mailed	January
Appeal deadline	January 31
Based on	Market value

Home Owner Grant

BC provides a grant to reduce property taxes:

Category	Grant Amount
Basic grant	$570
65+ or disabled (basic)	$845
Additional for Northern/Rural	+$200

Applied automatically if you claim it.

Payment Options

Method	Details
TIPP (monthly)	Pre-authorized payments
Full payment	Due early July
Online banking	Through bank’s bill pay
In-person	City hall

Late payment penalty: 5% added after due date.