Property Taxes Across The Country

September 30th, 2014

Some findings on property taxes across the nation:

Calgary

-Estimated commercial property taxes per $1,000 of assessment: $14.11
-Estimated residential property taxes per $1,000 of assessment: $6.10
-Commercial-to-residential ratio: 2.31, up 2.2 per cent from last year
-Calgary has one of the lowest estimated tax rates on commercial properties per $1,000 of assessment

Edmonton

-Estimated commercial property taxes per $1,000 of assessment: $18
-Estimated residential property taxes per $1,000 of assessment: $8.01
-Commercial-to-residential ratio: 2.25, down 3.6 per cent from last year
-Residential rates rose by 2.5 per cent

Halifax

-Estimated commercial property taxes per $1,000 of assessment: $34.02
-Estimated residential property taxes per $1,000 of assessment: $12.11
-Commercial-to-residential ratio: 2.81, down 4.4 per cent from last year
-Halifax’s ratio has been edging down since 2012. A 6.8-per-cent increase in the city’s taxable commercial property assessment base this past year allowed for a significant drop in commercial rates, which went down by more than residential rates. As a result Halifax’s ratio saw the largest drop of all the cities since last year.

Montreal

-Estimated commercial property taxes per $1,000 of assessment: $37.12
-Estimated residential property taxes per $1,000 of assessment: $8.27
-Commercial-to-residential ratio: 4.49, up 1.9 per cent from last year
-This is the tenth year in a row the ratio has risen in Montreal. Both commercial and residential rates fell from last year, but residential rates are declining more quickly. The city has one of the highest estimated commercial tax rates per $1,000 of assessment.

Ottawa

-Estimated commercial property taxes per $1,000 of assessment: $30.41
-Estimated residential property taxes per $1,000 of assessment: $11.27
-Commercial-to-residential ratio: 2.7, up 0.4 per cent from last year
-The ratio is expected to remain stable for the rest of Ontario’s 2013-2016 property assessment cycle. Ottawa has one of the highest estimated commercial tax rates per $1,000 of assessment.

Regina

-Estimated commercial property taxes per $1,000 of assessment: $21.37
-Estimated residential property taxes per $1,000 of assessment: $13.69
-Commercial-to-residential ratio: 1.56, down 0.1 per cent from last year
-Regina has one of the lowest ratios, with one of the highest residential property tax rates.

Saskatoon

-Estimated commercial property taxes per $1,000 of assessment: $17.62
-Estimated residential property taxes per $1,000 of assessment: $12.58
-Commercial-to-residential ratio: 1.4, down 1 per cent from last year
-Saskatoon has one of the lowest ratios and highest residential property tax rates. It has a goal of maintaining the target ratio of 1.4 per cent.

Toronto

-Estimated commercial property taxes per $1,000 of assessment: $28.98
-Estimated residential property taxes per $1,000 of assessment: $7.23
-Commercial-to-residential ratio: 4.01, down 1.5 per cent from last year
-The ratio has been falling for 11 years. The city aims to reduce the tax ratios for commercial properties to 2.5 times the residential rate by 2020. It cut residential taxes for the sixth year in a row.

Vancouver

-Estimated commercial property taxes per $1,000 of assessment: $15.91
-Estimated residential property taxes per $1,000 of assessment: $3.68
-Commercial-to-residential ratio: 4.33, down 0.4 per cent from last year
-The ratio has been fairly stable for three years.

Winnipeg

-Estimated commercial property taxes per $1,000 of assessment: $25
-Estimated residential property taxes per $1,000 of assessment: $12.13
-Commercial-to-residential ratio: 2.06, up 1.9 per cent from last year

Sales Prices Up, Number Of Sales Up, Demand Up, But Supply (Listings) Down For August 2014 In Toronto.

September 12th, 2014