Vancouver Property Tax 2026 — Mill Rate 0.3364%
British Columbia · annual residential property tax · municipal levy (separate from CRA income tax)
Quick answer — annual property tax on a $1,500,000 home
$5,046 /year
≈ $420/month escrow · mill rate 0.3364% · YoY +2.46 bps
BC's Lower Mainland hub. Vancouver residents pay British Columbia provincial tax plus federal tax — no municipal income tax.
Annual property tax by home value in Vancouver
| Home value | Annual tax | Monthly escrow |
|---|---|---|
| $500,000 | $1,682 | $140 |
| $750,000 | $2,523 | $210 |
| $1,000,000 | $3,364 | $280 |
| $1,500,000 | $5,046 | $420 |
| $2,000,000 | $6,728 | $561 |
| $3,000,000 | $10,092 | $841 |
Vancouver property tax due dates (2026)
As published by the municipality. Missing a due date triggers a penalty, so these matter more than the rate does.
Advance taxes
- February 3, 2026
Main taxes
- July 3, 2026
Advance taxes are due the second business day of February and main taxes the second business day of July. Any 2025 balance unpaid after December 31, 2025 accrues 8.95% arrears interest from January 1, 2026. Missing either due date adds a 5% penalty.
Due dates source: https://vancouver.ca/home-property-development/deadlines-and-penalties.aspx · verified 2026-08-27
Mill rate breakdown
| Component | Rate | % of total |
|---|---|---|
| Municipal | 0.1934% | 57.5% |
| Education (British Columbia) | 0.0980% | 29.1% |
| Transit / City Building | 0.0359% | 10.7% |
| Other levies | 0.0091% | 2.7% |
| Total | 0.3364% | 100.0% |
Compare with other British Columbia cities
Annual tax shown for a $1,000,000 home, sorted lowest to highest mill rate.
| City | Mill rate | Tax on $1M home |
|---|---|---|
| Surrey | 0.3108% | $3,108 |
| Richmond | 0.3194% | $3,194 |
| Burnaby | 0.3284% | $3,284 |
| Coquitlam | 0.3852% | $3,852 |
| Abbotsford | 0.4500% | $4,500 |
| Kelowna | 0.5150% | $5,150 |
| Nanaimo | 0.5550% | $5,550 |
| Victoria | 0.5656% | $5,656 |
Related calculators for Vancouver
Buying in Vancouver? Use the Land Transfer Tax calculator for the one-time purchase tax. Comparing salaries? Estimate your take-home pay in Vancouver with the take-home pay calculator. Or browse all city property tax pages.
Note: Class 1 residential. Total levy $3.36394/$1,000 for 2026 (General Purpose $1.93406 + Provincial School $0.98001 + TransLink $0.35893 + BC Assessment Authority $0.03814 + Metro Vancouver $0.05260 + Municipal Finance Authority $0.00020), per official 2026 rate table.
Frequently asked questions
What is Vancouver's 2026 property tax rate?
Vancouver's 2026 residential mill rate is 0.3364% (0.00336394 as a decimal). On a $1,500,000 home this works out to $5,046 per year, or roughly $420 per month if your lender holds the tax in escrow. Source: https://vancouver.ca/home-property-development/residential.aspx, last verified 2026-07-22.
When are Vancouver property taxes due?
Vancouver's 2026 advance taxes is due February 3, 2026. Vancouver's 2026 main taxes is due July 3, 2026. Advance taxes are due the second business day of February and main taxes the second business day of July. Any 2025 balance unpaid after December 31, 2025 accrues 8.95% arrears interest from January 1, 2026. Missing either due date adds a 5% penalty. Source: https://vancouver.ca/home-property-development/deadlines-and-penalties.aspx, last verified 2026-08-27. Most lenders collect property tax monthly through PITI escrow rather than waiting for the city's due date.
How is my Vancouver home assessed?
Your tax is calculated as assessed value × mill rate, not market value × mill rate. British Columbia uses a public assessment authority (BC Assessment, MPAC in Ontario, etc.) to set assessed values, usually updated every 1-4 years. Assessed value typically lags market value, so the same mill rate produces different effective burdens depending on assessment cycle timing.
Are Vancouver property taxes deductible on my income tax return?
Property tax on your principal residence is NOT deductible federally or provincially. It only becomes deductible when the property generates rental income (line 9180 on T776) or self-employed business income (CCA / business-use-of-home on T2125). For a principal residence, the tax is a non-deductible cost of ownership.
Why does Vancouver's mill rate differ from neighbouring cities?
Each Canadian municipality sets its own residential mill rate to fund local services — police, fire, transit, parks, road maintenance — plus a provincially-set education portion. Cities with higher assessed values can raise the same revenue at a lower mill rate (Vancouver, Toronto), while cities with lower assessed values often need higher rates to fund equivalent services. Compare Vancouver with other British Columbia cities in the table above.
Source: https://vancouver.ca/home-property-development/residential.aspx · Last verified 2026-07-22
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