Question: Which city leads in property tax cuts?
November 13, 2017
Vancouver slashed residential property taxes by 19.2 per cent this year from 2016, while Saskatoon trimmed the tax by 8.7 per cent, according to a national study by Altus Group.
The mill rate (the tax on $1,000 in value) for residential property in Vancouver is the lowest among ten major cities at $2.55, while Saskatoon was among the highest with a mill rate of $9.29, the study found.
Across Canada, the average residential property mill rate is $8.66, down 2.4 per cent from 2016.
The report found that only three cities increased their residential property taxes: Edmonton raised taxes 6.3 per cent to a mill rate of $8.51, Calgary hiked the tax 5.3 per cent to a mill rate of $6.50, and Winnipeg increased the tax 3.1 per cent to a mill rate of $12.15—the highest of any city in the study.