Understanding your property tax notice

3 weeks ago


Vancouver, Canada Vancouver Food Policy Council Full time

Land assessment averaging gives property owners temporary tax relief by phasing in tax increases due to changes in land values set by BC Assessment.

While averaging does not increase or decrease the City’s tax revenue, it affects the amount of taxes paid by individual property owners.

By March 31 each year, Council decides whether to continue to use averaging to calculate property taxes and the eligibility criteria and requirements for averaging.

Since 2015, the City of Vancouver has used targeted land assessment averaging to calculate property taxes as recommended by the Property Tax Policy Review Commission in 2014. We transitioned from three to five year targeted averaging in 2019.

Under targeted averaging, only properties facing significant year-over-year increases in property values above a certain threshold ("hot" properties) will be eligible for averaging.

For eligible "hot" properties, the program calculates property taxes for the City and other taxing authorities using an average of the assessed land value for the current and prior four years, plus their current assessed improvement value.

 The benefit of averaging is limited to the threshold percentages indicated below. A property's averaged value cannot be reduced below the applicable threshold.

All other properties would continue to pay property taxes based on their current year BC Assessment value.

Your main tax notice will indicate averaging has been applied to your property if the taxable land value is different from the current year assessed land value.

What properties are eligible for averaging

Your property is eligible for averaging if it:

  • Is a residential (class 1), light industrial (class 5), or business and other (class 6) property
  • The taxable value has increased over a threshold since last year
  • Is not otherwise exempt under the Land Assessment Averaging Bylaw

If your property isn't eligible, it will be taxed based on its assessed value, just like in other BC cities.

Tax rates for property classes eligible for averaging

Find this year's residential (class 1) property tax rate.

Find this year's light industry (class 5) property tax rate.

Find this year's business and other properties (class 6) tax rate.

Contact information, partner agencies, and website policies #J-18808-Ljbffr

  • Vancouver, Canada The City of Vancouver Full time

    **Requisition ID**:39324 **Organization** Located on the traditional, ancestral and unceded lands of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) Peoples, Vancouver has a commitment to becoming a City of Reconciliation. Vancouver consistently ranks as one of the world’s most liveable cities and is...


  • Vancouver, BC, Canada Wesgroup Properties LP. Full time €50,000 - €55,000

    Wesgroup Properties started as a family business in British Columbia more than 60 years ago and today is one of Western Canada’s largest private real estate companies with a diversified portfolio spanning across residential and commercial real estate. Wesgroup owns and manages over 3.2 million square feet of commercial and multi-family real estate and has...

  • Income Tax Preparer

    1 month ago


    Vancouver, Canada Liberty Tax Service Full time

    Liberty Tax Service is the country’s fastest-growing retail tax preparation firm, with over 2,000 office locations in Canada and the United States. We are looking for an Income Tax Preparer for Liberty Tax Service office to file T1 returns starting February 1, 2023. Wages ranging from $17.00 - $19.00 based on experience and...

  • Income Tax Preparer

    4 weeks ago


    Vancouver, Canada Liberty Tax Service Full time

    Liberty Tax Service is the country’s fastest growing retail tax preparation firm, with over 2,000 office locations in Canada and the United States. We are looking for an Income Tax Preparers for Liberty Tax Service office to file T1 returns starting February 1, 2023. Wages ranging from $16.00 - $19.00 based on experience and...

  • Property Manager

    4 weeks ago


    Vancouver, Canada Rossano Property Management Group Full time

    A seasoned Property Manager is required for a growing property development company that has been in business for over 30 years. We have a diverse portfolio comprised of commercial, residential, industrial and retail properties. **Responsibilities**: - Maintain positive, productive relationships with tenants - Support and work with Building Managers to...


  • Vancouver, Canada KPMG-Canada Full time

    **Overview** At KPMG, you'll join a team of diverse and dedicated problem solvers, connected by a common cause: turning insight into opportunity for clients and communities around the world. The opportunity: Our Canadian Corporate Tax practice works with clients to help minimize federal and provincial corporate income taxes. We also provide assistance in...


  • Vancouver, BC, Canada Lannick Full time €75,000 - €90,000

    Our client is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. The Client serves the interests of more than 750 institutional clients with expertise in the asset management of office, retail, industrial and multi-residential property across the globe. The Client has offices in 28...

  • Senior Tax Manager

    11 hours ago


    Vancouver, Canada RecruitNRefer Full time

    This position generally requires working from our Vancouver office. Upon completing the probationary period, the successful candidate may work on a hybrid schedule. Your day-to-day You will be responsible for: Manage and coordinate tax planning and compliance services for corporations, partnerships, trusts and individuals Assist with tax advisory and...

  • Senior Tax Manager

    13 hours ago


    Vancouver, Canada RecruitNRefer Full time

    This position generally requires working from our Vancouver office. Upon completing the probationary period, the successful candidate may work on a hybrid schedule. Your day-to-day You will be responsible for: Manage and coordinate tax planning and compliance services for corporations, partnerships, trusts and individuals Assist with tax advisory and...

  • Senior Tax Manager

    12 hours ago


    Vancouver, Canada RecruitNRefer Full time

    This position generally requires working from our Vancouver office. Upon completing the probationary period, the successful candidate may work on a hybrid schedule. Your day-to-day You will be responsible for: Manage and coordinate tax planning and compliance services for corporations, partnerships, trusts and individuals Assist with tax advisory and...


  • Vancouver, Canada CP Group Full time

    **Commercial Property Coordinator** **Job Overview**:The Commercial Property Coordinator plays a crucial role in the day-to-day operations of our commercial properties, ensuring efficient and effective management and administration. This position involves overseeing tenant relations, lease administration, property maintenance, and financial management to...


  • Vancouver, Canada Canderel Group Full time

    Tuesday, March 5, 2024 Who we are: Canderel is a leading real estate company committed to creating vibrant communities across the nation. With a strong emphasis on sustainability, innovation, and inclusivity, we take pride in delivering exceptional properties that enhance the lives of residents and tenants. As part of our unwavering commitment to...


  • Vancouver, Canada Canderel Group Full time

    Tuesday, March 5, 2024 Who we are: Canderel is a leading real estate company committed to creating vibrant communities across the nation. With a strong emphasis on sustainability, innovation, and inclusivity, we take pride in delivering exceptional properties that enhance the lives of residents and tenants. As part of our unwavering commitment to...


  • Vancouver, Canada Canderel Group Full time

    Tuesday, March 5, 2024 Who we are: Canderel is a leading real estate company committed to creating vibrant communities across the nation. With a strong emphasis on sustainability, innovation, and inclusivity, we take pride in delivering exceptional properties that enhance the lives of residents and tenants. As part of our unwavering commitment to...

  • Property Clerk I

    4 weeks ago


    Vancouver, Canada The City of Vancouver Full time

    **Requisition ID**:37439 **Company** Located on the traditional, ancestral and unceded lands of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) Peoples, Vancouver has a commitment to becoming a City of Reconciliation. Vancouver consistently ranks as one of the world’s most liveable cities and is working...


  • Vancouver, Canada Amacon Full time

    About Us Driven by a passion for detail and a tradition of excellence in design and architecture, Amacon is recognized as one of Canada’s most influential real estate development and construction firms. With five decades of development and construction expertise, a precise level of design and craftsmanship is evident in all the homes and commercial...


  • Vancouver, Canada Warrington PCI Management Full time

    Warrington PCI Management is the largest commercial property managers in BC. The company manages approximately 18 million sq ft of retail, office, industrial, multi-family and marine properties throughout the Lower Mainland. **Primary Purpose** The primary purpose of the Residential Property Manager is to provide excellent and responsive service to the...


  • Vancouver, Canada BC Hydro Full time

    Powered by water... and by people like you Providing clean electricity to 4 million customers takes a diverse workforce and that’s where you come in. We need your talent to help us build major projects to meet growing demand. To help our customers find clean energy solutions for their homes and businesses and to be ready to respond during storms and...


  • Vancouver, Canada QuadReal Property Group Full time

    **About QuadReal Property Group** QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management total $67.1 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in...

  • Property Accountant

    2 weeks ago


    Vancouver, British Columbia, Canada Morguard Full time

    PURPOSE The Property Accountant is accountable to the Manager, Accounting or Supervisor, Accounting for the timely and accurate completion of all accounting activities for an assigned portfolio of real estate investments and for ensuring financial reporting is timely, accurate and is completed in compliance with company's accounting policies and...