The property tax anomaly; lower values, higher taxes

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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. Read the full story.
  • Victor Simone on 2014-09-29 3:59:02 PM

    Also, many parts of Canada use various methods to arrive at the property valuation. Some valuations are closer to market value, just being off about 10%-15% of the market price. While in other provinces the tax valuation is about 35% lower than the market value.

    I think the formula governments use is, how much can people afford to pay in property taxes before a riot breaks out.

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