Grasping the ins and outs of real estate is a complex process, more so when understanding what goes into property taxes for homeowners, investors and potential home buyers. In cities like Vancouver, where the real estate market is vibrant and ever-changing, this becomes even more critical.
Vancouver is known for its high property values, which directly influence the amount of property tax payable. The city’s property tax revenue is a significant source of income used to fund various public services and infrastructure that contribute to the city’s livability.