Average Property Tax in BC: City Rates, Grants, and Deferment

Residential property tax in BC varies widely by city. Rates run from about 0.33% of assessed value in Vancouver and Burnaby to over 0.70% in smaller cities like Nanaimo and Kamloops. On a home assessed at $1 million, that works out to roughly $3,300 to $7,300 a year before any grants or deferments. The average property tax in BC by city depends on two things: what your home is worth on July 1 of the prior year, and the total rate your municipality sets for the current year.

How the Rate and Assessed Value Work Together

BC Assessment, an independent provincial Crown corporation, values every property in the province each year.¹ The valuation date is July 1, and the assessor bases the number on what your property would likely sell for on that date given market conditions and comparable sales.² Notices go out by early January.

Your municipality then applies a rate expressed as dollars per $1,000 of assessed value. If the total rate is $3.50 per $1,000 and your home is assessed at $800,000, you owe $2,800 for the year. The rate is reset annually based on how much revenue the city needs and how the total value of local properties has moved.

2026 Residential Rates in Major BC Cities

Vancouver’s 2026 total residential tax rate is $3.36 per $1,000 of assessed value, an effective rate of about 0.34%.³ A $1.5 million home in Vancouver would owe roughly $5,046. That figure includes the city portion, school tax, TransLink levy, and smaller regional charges.

Burnaby sits just below at $3.28 per $1,000, about 0.33%.⁴ The same $1.5 million home there would cost around $4,925.

Outside the Lower Mainland the numbers change quickly. Nanaimo’s 2026 total residential rate is $7.31 per $1,000, roughly 0.73%.⁵ Kamloops is $6.85 per $1,000, about 0.69%.⁶ A $500,000 home in Nanaimo produces about $3,656 in annual tax. That’s more than the same home would produce in Burnaby, even though the Burnaby home would be worth three times as much. This catches a lot of people moving from Metro Vancouver to smaller communities off guard.

Why Rates Are So Different

The main driver is the size of the local tax base. Vancouver spreads its costs across enormous residential and commercial property wealth, so a low percentage still funds the city. A smaller municipality has to charge a higher rate on lower-valued properties to cover the same basic services: roads, water, fire protection.

Commercial and industrial property matters too. Cities with dense business districts shift more of the burden onto non-residential owners, which pulls the residential rate down. Municipalities that are mostly residential don’t have that cushion. Local spending choices also feed straight into the rate; a city investing heavily in transit or infrastructure needs more revenue than one holding the line.

What Makes Up Your Bill

An annual tax notice bundles several separate levies. The largest piece is the municipal general levy, which pays for city services. Your municipality also acts as the collection agent for other bodies, and each gets its own line.

The school tax is collected on behalf of the province. Despite the name, revenue flows into BC’s consolidated revenue fund and supports a broad range of provincial services, not just local schools.⁷ In Metro Vancouver, a TransLink levy funds regional transit. Smaller charges cover BC Assessment, the Municipal Finance Authority, and your regional district. Burnaby’s 2026 bill breaks into six separate line items, with the city portion making up just over half.⁴

Additional School Tax on Homes Over $3 Million

Properties assessed above $3 million pay an extra provincial school tax on top of the standard levy:⁸

0.2% on the residential portion assessed between $3 million and $4 million
0.4% on the residential portion assessed above $4 million

Only the value above $3 million is taxed at these rates. A home assessed at $3.5 million pays the 0.2% surcharge on just the $500,000 above the threshold. Non-stratified rental buildings with four or more units are exempt.⁸

Home Owner Grant

The Home Owner Grant is the most widely used property tax reduction in BC. If you are a Canadian citizen or permanent resident living in the property as your principal residence, it comes straight off your bill.⁹ The basic amount depends on region:

$570 in the Capital Regional District, Metro Vancouver Regional District, and Fraser Valley Regional District
$770 everywhere else in the province

Seniors 65 or older, veterans, and persons with disabilities can receive up to an additional $275, bringing the total to $845 in the three named regional districts and $1,045 elsewhere.⁹

For 2026, properties assessed at $2,075,000 or less qualify for the full grant. Above that, the grant shrinks by $5 for every $1,000 of assessed value over the threshold.⁹ The regular grant disappears entirely at $2,189,000 in assessed value ($2,229,000 in northern and rural areas). The additional grant phases out at $2,244,000 ($2,284,000 in northern and rural areas). You must apply through the province every year, and the deadline aligns with your municipality’s property tax due date.

Deferment Programs

BC lets qualifying homeowners postpone paying property taxes on their principal residence. The unpaid amount accumulates as a low-interest charge against the property and is settled when you sell or transfer ownership.

Regular Program

Open to homeowners who are 55 or older during the current year, surviving spouses of any age, and persons with disabilities as defined under provincial law.¹⁰ As of April 2026, the interest rate is 2.45%, compounded monthly, and floats with prime.¹¹

Families With Children Program

Available to parents or stepparents financially supporting a child under 18, or an adult child who is in school or has a disability.¹⁰ The interest rate is 4.45% as of April 2026.¹¹

Both programs require Canadian citizenship or permanent residency, at least one year of BC residence, and all previous property taxes fully paid before you apply.¹⁰

Deadlines and Penalties

Most BC municipalities set property tax due dates in early July. In Vancouver, the 2026 main payment is due July 3, and a 5% penalty applies immediately to any unpaid balance after that date.¹² Vancouver also requires an advance payment in early February. The 5% penalty is standard across most cities, and some apply a second 5% penalty on amounts still unpaid after September.

The July deadline is also the cutoff for claiming the Home Owner Grant and completing deferment applications.¹² If you miss it, the penalty applies to your full balance, including the grant amount you would otherwise have received. Municipalities will not waive the penalty even for a one-day-late grant application.

Speculation and Vacancy Tax Is Separate

The speculation and vacancy tax is not part of your annual property tax bill. It is a separate provincial charge on residential properties in designated regions that are left empty or underused, including Metro Vancouver, the Capital Regional District, Kelowna, and several other municipalities. Owners in those areas must file a declaration with the province every year by March 31.¹³

Principal residences are exempt. So are properties occupied by a long-term tenant, registered charities, housing co-ops, and Indigenous Nations.¹³ For properties that don’t qualify, the rate is 1% of assessed value for Canadian citizens and permanent residents, and 3% for foreign owners and satellite families. Missing the annual declaration means the tax gets applied at the highest applicable rate, even if you would have qualified for an exemption.

1
BC Assessment. Data Validation
2
British Columbia Laws. British Columbia Code – Assessment Act – Section: Part 3 Valuation
3
City of Vancouver. Residential Property Tax Rates
4
City of Burnaby. Property Taxes
5
City of Nanaimo. City of Nanaimo – Tax Rates
6
City of Kamloops. Property Taxes
7
Province of British Columbia. School Tax
8
Province of British Columbia. Additional School Tax Rate
9
Province of British Columbia. Home Owner Grant
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Province of British Columbia. Property Tax Deferment Program Eligibility
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Province of British Columbia. Property Tax Deferment Interest Rate History
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City of Vancouver. Tax Deadlines and Penalties
13
Government of British Columbia. Exemptions for the Speculation and Vacancy Tax