Metro Vancouver Property Tax by City: What $1M Pays

Why the rates differ: the assessment base

A municipal tax rate is the levy council needs divided by the assessed value it can tax. Vancouver's 2026 general purpose levy on residential property is $703.3 million, spread over about $363.6 billion of net taxable residential value, which works out to a city rate of $1.93406 per $1,000 (City of Vancouver council report RTS 18298). A city with less assessed value behind each dollar of spending needs a higher rate to raise the same money.

Councils also decide how to split the levy between homes and businesses. For 2026, Vancouver council set that split at about 57.5 per cent residential and 42.5 per cent non-residential. Burnaby and New Westminster share a border, yet Burnaby's 2026 municipal residential rate is $1.72223 per $1,000 (Burnaby Rates Bylaw 2026, No. 14814) and New Westminster's is $3.10387 (City of New Westminster, 2026 Tax Rates). That municipal line accounts for most of the $1,509.39 gap between the two bills on a $1,000,000 home.

The school portion varies as well. The BC government sets a residential school tax rate for each school district under section 119 of the School Act. For 2026, among the cities above, it runs from $0.9791 per $1,000 in School District 39 (Vancouver) to $1.2349 in School District 40 (New Westminster) (BC Order in Council 124/2026). TransLink ($0.35860), BC Assessment ($0.03810) and the Municipal Finance Authority ($0.00020) charge the same base residential rate across all nine for 2026. Vancouver's averaged figures differ in the fourth decimal place because the city applies land assessment averaging.

A low rate does not mean a low bill

The rate is half of the calculation. The other half is the assessed value, and in BC that value is recent. BC Assessment's 2026 figures reflect market value as of July 1, 2025 and physical condition as of October 31, 2025. BC Assessment told Lower Mainland owners that most 2026 changes would fall between a 10 per cent drop and no change.

A lower assessment does not lower the bill when the levy keeps rising, because council divides a larger budget across a smaller base and the rate goes up. In the City of North Vancouver, the average residential assessment fell from $1,451,726 in 2025 to $1,387,684 in 2026, while the average total property tax bill rose from $4,618 to $4,790 (City of North Vancouver, 2026 Property Tax Info Sheet).

Vancouver shows how much the assessed value matters. The city's 2026 example puts a median single-family home, assessed at $2,093,000, at $7,040 in property taxes before the grant, and a median strata unit assessed at $770,000 at $2,590 (City of Vancouver council report RTS 18298, Appendix B). Its rate sits in the lower half of this list, but its detached owners pay some of the largest bills in the region. Zealty's live listings show the same pattern in prices: the median asking price is $1,350,000 in the City of Vancouver today, against $849,000 in Burnaby.

What Surrey, Burnaby and Vancouver property tax rates leave out

The total rate covers property value taxes only. Several other charges arrive on the same notice or beside it.

• Flat parcel taxes. Surrey adds a Capital Parcel Tax of $300 a year on residential property, plus a drainage parcel tax, both collected with property taxes (City of Surrey, 2026 property tax rate schedule). With the capital parcel tax, the Surrey bill on a $1,000,000 home is $3,727.31 before drainage.
• Utility fees. Water, sewer and garbage are often billed as flat fees rather than through the rate. Vancouver's 2026 example adds $2,540 in utility fees for a median single-family home (City of Vancouver council report RTS 18298, Appendix B).
• BC's additional school tax. For 2026 the province charges 0.2 per cent on the residential portion of a home assessed between $3 million and $4 million and 0.4 per cent on the portion above $4 million. From January 1, 2027 those rates rise to 0.3 and 0.6 per cent (City of Vancouver council report RTS 18298).
• Vacancy taxes. Vancouver's Empty Homes Tax and BC's Speculation and Vacancy Tax are separate taxes with their own declarations. Our guides to the Vancouver Empty Homes Tax and the BC Speculation and Vacancy Tax cover who has to file.

The home owner grant then reduces the bill on a principal residence. For 2026 the full grant applies to homes assessed at $2,075,000 or less, it shrinks by $5 for every $1,000 above that, and the regular grant reaches zero above $2,189,000 (Province of BC, Home Owner Grant). The regular grant in Metro Vancouver is $570 for 2026, the amount Vancouver's own example deducts for a median strata unit. Our BC property tax guide covers how to claim it, due dates and the deferment program.

Comparing homes in two cities

• Multiply the assessment, not the asking price. Find the property's BC Assessment value, or read it off the seller's last tax notice, and multiply it by the city's total rate.
• Compare total rates. In New Westminster the municipal line is about 65 per cent of the total residential rate. In Vancouver it is about 57 per cent.
• Add the flat charges. A $300 parcel tax or $2,540 in utility fees can move the comparison more than a gap in the rate.
• Expect the bill to change every year. Assessments reset each January and rates each spring, so a bill can rise in a year the assessment falls.
• Put the annual figure in your carrying costs beside the mortgage, insurance and any strata fees. On a $1,000,000 assessment, the spread across this list is about $126 a month.

Where to start

Before you weigh Surrey property tax against a Burnaby or Vancouver bill, pull the current rate from each city's own page, because BC rates reset every spring. Check the assessed value of any home you are serious about; our BC property assessment guide explains how the value is set and how to appeal it. You can search Metro Vancouver listings on Zealty, or compare prices on the Vancouver, Surrey, Burnaby, Richmond, Coquitlam, North Vancouver, New Westminster and Langley housing market pages.

This article is educational and is not tax or legal advice. Confirm your own situation with the municipality and a tax professional before you act on it.