Whether we like them or not, the truth is we can’t live without them and whether you own a home or rent, we all pay property taxes. Property taxes are the biggest source of revenue for any municipality, commonly supporting essential services including police and fire departments, schools, road maintenance, garbage collection, snow removal, sewage upkeep and in one city, recent repairs to damaged water lines. What isn’t common is the property tax rates in Canadian cities, which according to a study by online real estate portal, Zoocasa, range from a low of 0.29681% to a high of 1.78914% in 24 cities it measured across the country. The type of home you live in can influence how much property tax you pay. “For instance, condo owners might have lower property taxes because their maintenance fees cover shared spaces and building upkeep, which are subject to different guidelines than single-family homes,” says Zoocasa. “Generally, property taxes could be lower in densely populated areas since the public costs are distributed among more people.” “We compiled a list of 24 cities across Canada and their property tax rates for 2024 and calculated the amount of property taxes a resident would pay on homes with assessment values of $500,000, $750,000 and $1,000,000.” According to Zoocasa, Alberta’s two largest cities come in at fifth and tenth lowest in the country. Calgary is in fifth with a rate of 0.64861%, resulting in taxes of $3,243 on a $500,000 home; $4,865 on a $750,000 home and; $6,486 on a $1 million home. In tenth, Edmonton’s rate is 1.01738%, with taxes of $5,087 on a $500,000 home; $7,630 on a $750,000 home and; $10,174 on a $1 million home. The three municipalities with the lowest property tax rates are in BC, with the Greater Vancouver Area (GVA), which has the highest priced homes and the highest assessed home values in Canada, being the lowest. The GVA tax rate is 0.29681%, resulting in taxes of $2,968 on a $1 million home. If you can find a home in the GVA for $500,000, the taxes are $1,484, on a $750,000 home, taxes are $2,226. Right behind the GVA in second is Abbotsford, with a rate of 0.39590%, for taxes of $1,980 on a $500,000 home; $2,969 on a $750,000 home and; $3,959 on a $1 million home. In third spot is Victoria with a rate of 0.47426%, with taxes of $2,371, $3,556 and $4,742 on $500,000, $750,000 and $1 million homes respectively. At the other end of the scale is Sault Ste. Marie, ON, with the highest property tax rate in Canada at 1.78914%, with taxes of $8,946 on a $500,000 home; $13,429 on a $750,000 home and; $17,891 on a $1 million home. The second highest rate is in Saint John NB, 1.58000%, with taxes of $7,900, $11,850 and $15,800 on $500,000, $750,000 and $1 million homes respectively. Third on the highest rate list is London ON, at 1.57313% with taxes of $7,866, $11,798 and $15,731 on $500,000, $750,000 and $1 million homes respectively. Canada’s city with the second most expensive home prices is Toronto, with a tax rate of 0.71529%, with a $500,000 home taxed $3,576; a $750,000 home taxed $5,365, and; a $1 million home taxed $7,153.
