The property tax anomaly; lower values, higher taxes
New analysis of figures shows that the lowest property prices do not always mean low property taxes. In fact the stats from the Real Property Association of Canada (REALpac) reveal that those in some of the most expensive markets in the country pay the lowest property taxes. In Vancouver for example, homeowners pay $3.68 per year for every $1000 of the value of their homes while in Regina the figure is around $10 more per $1000. Using average house prices and the REALpac data, Saskatoon has the highest property tax bills in Canada and pay twice that of Vancouverites despite average house prices of around half.