Understanding Homeowner Taxes in British Columbia

When you purchase a property in Vancouver and the Lower Mainland, you are possibly subject to a variety of different property taxes. To understand those taxes, I’ve put together a guide that better explains them.

Taxes are implemented by the government for a number of reasons. They help pay for public services such as education, the police & emergency forces, recreation facilities and community programming. They are also implemented to cool housing markets, increase affordability and rental inventory. There are a number of taxes in both Vancouver and British Columbia to be aware of.

Please check out the following guide to understanding local taxes and how they may affect you as a current or future home owner. If you have further tough questions about taxes, we can hook you up with our beloved local tax accountant!

You can also find out more about property taxes on the Government of British Columbia’s website here:

https://www2.gov.bc.ca/gov/content/taxes/property-taxes