The tax, a levy of an extra one per cent of the property’s assessed value for the year, targets homes that are empty or only used part-time. With Vancouver’s rental vacancy rate remaining close to zero for several years now, the primary purpose of the policy, the city said, w...
The ability to continue to build for the future while keeping the property tax rate lower than all other Metro Vancouver municipalities is a conscious effort by the Safe Surrey Coalition-led City Council, according to Mayor Doug McCallum. “Our agenda is the most ambitious in the history of th...
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/11/2025 from various mortgage lenders with which we have lead or other similar arrangements; the Estima...
Tax Rate Reduction The EHT will reduce from 5% to 3% for the 2023 vacancy reference year. This addresses in part the concern that a higher EHT will prompt more false declarations and higher audit and compliance costs. Amendment to the existing 5% rate. Renovation Exemption An owner will no...
plus landlords are responsible for the cost of home maintenance and repairs. Homeowners, on the other hand, are more vulnerable to unexpected expenses like maintenance and repairs, as well as potential mortgage rate increases. As a result, renting often ends up being much cheaper than your total...
Initially the same as Type B except that the property tax rate is reduced (discounted) because rental is calculated based on a combination of two factors: the total days during the taxation period in which the property was rented, and the area percentage of the property that was rented. ...
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/9/2025 from various mortgage lenders with which we have lead or other similar arrangements; the Estimat...
The city says in a news release that it expects to generate a total of $30 million from the first year of the tax which is applied to vacant residential properties in a bid to ease Vancouver’s near-zero vacancy rate. The city says $8 million raised by the tax in 2017 has alread...
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