Saskatoon Real Estate News October 16, 2014

Property taxes across the country

Ever wonder what other’s across the country are paying for property taxes? Would it surprise you to know that homeowners in some of Canada’s most expensive real estate markets pay some of the country’s lowest taxes? And those with the least expensive markets are paying some of the highest taxes?

The Real Property Association of Canada (REALpac) just released some new numbers on property tax rates across the country. Of all the cities surveyed, Vancouver came in with the lowest tax rates.

Homeowners in Vancouver were found, on average, pay $3.68 every year in taxes per $1,000 of assessed property value. Comparatively, Regina pays $13.69 for every $1,000. The study also found that residents of Vancouver who’s average house price including condos is $613,000 pay on average about half that as a resident of Saskatoon where the average house price is $353,000.

Saskatoon was named the city with the highest on average property tax among major centres in Canada at $4,440. Hooray (?)

The City of Saskatoon is disputing this claim and has said that the property taxes were calculated using a biased approach. They also state that it failed to take into account that Saskatoon tax levies taxes on only 70% per cent of a home’s value although Altus Research Group who did the initial calculations claimed they did.

1. Vancouver – $2,322

2. Montreal – $2,704

3. Calgary – $2,830

4. Edmonton – $2,947

5. Winnipeg – $3,347

6. Halifax – $3,875

7. Toronto – $3,947

8. Ottawa – $4,057

9. Regina – $4,065

10. Saskatoon – $4,440


Kari Calder

Saskatoon real estate agent

Century 21 Fusion