We here in Greater Victoria have the… unique pleasure of not actually living in one contiguous city, but in one of 13 different municipalities. This has the great benefit of every region reinventing the wheel and not working together. One of the main ways that all this hand wringing is funded is through property taxes. Some municipalities like Saanich and Victoria are fairly open with this data, while others like Oak Bay think it’s improper to discuss these kinds of financial matters with plebes present and don’t post it on their websites.
However I recently stumbled on the DataBC website, and one of the resources it has are all the municipal tax rates in BC. Given that outside of the mortgage itself and perhaps maintenance, property taxes are one of the biggest expenses of home ownership, it’s worth looking at how the different regions compare. I’ve extracted out our little corner of the province and here it is.
|Municipalities||Tax Rate ($/$1000 value)||Representative House Value||Residential Taxes|
From a rate perspective, Esquimalt residents will pay the highest tax rate, but due to the high property values in Oak Bay the total bill on a representative house will be highest there. Keep in mind that most people will also receive at least the basic homeowner grant which takes off $570 from these numbers. The exemption was recently raised to $1.2 million from $800k.