School Tax

Starting in 2019, the provincial government will apply an additional school tax for property's assessed at $3 million and over. 

As announced in the province's 2018 budget, this additional school tax will be applied to all residential properties in the province valued at $3 million and above, including:

  • detached homes
  • stratified condominium or townhouse units
  • most vacant land

The additional tax rate is:

  • 0.2% on the residential portion assessed between $3 million and $4 million
  • 0.4% on the residential portion assessed at over $4 million

For mixed-use properties, only the residential portion of the property’s assessed value above $3 million will be taxable.

Impact on West Vancouver

The table below provides some indication of how this might impact properties in West Vancouver. 

The 2018 Basic School Tax rate will not be available until late April, and, based on prior years’ experience, this rate may be higher than 2017, and may be raised again in 2019.

In other words, it is expected that the Basic School Tax rate, which applies to all properties, will also go up, and the additional taxes will then be added onto the increased base rate.

Note: the 2017 School Tax rate acts as a base.

A B C D E F

Assessed 
Value

Current 2017 School Taxes

Proposed 2019 School Tax on value between $3M and $4M Proposed 2019 School Tax on value $4M and over Proposed 2019
School Tax (B+C+D)
Cost of special additional
School Tax (E-B)
$2,000,000 $1,635.60 -- -- $1,635.60 0
$3,000,000 $2,453.40 -- -- $2,453.40 0
$3,500,000 $2,862.30 $1,000 -- $3,862.30 $1,000
$4,000,000 $3,271.20 $2,000 -- $5,271.20 $2,000
$4,500,000 $3,680.10 $2,000 $2,000 $7,680.10 $4,000
$5,000,000 $4,089 $2,000 $4,000 $10,089 $6,000
$6,000,000 $4,906.80 $2,000 $8,000 $14,906.80 $10,000
$7,000,000 $5,724.60 $2,000 $12,000 $19,724.60 $14,000
$8,000,000 $6,542.40 $2,000 $16,000 $24,542.40 $18,000
$9,000,000 $7,360.20 $2,000 $20,000 $29,360.20 $22,000
$10,000,000 $8,178 $2,000 $24,000 $34,178 $26,000
$15,000,000 $12,267 $2,000 $44,000 $58,267 $46,000
$20,000,000 $16,356 $2,000 $64,000 $82,356 $66,000
$25,000,000 $20,445 $2,000 $84,000 $106,445 $86,000
$30,000,000 $24,534 $2,000 $104,000 $130,534 $106,000
$50,000,000 $40,890 $2,000 $184,000 $226,890 $186,000

 

How many residential properties could be affected in West Vancouver?

Taxable Value Number of Tax Rolls
$3–4 million 3215
$4–5 million 1622
$5–6 million 877
$6–7 million 529
$7–8 million 302
$8–9 million 193
$9–10 million 112
$10–11 million 71
$11–12 million 44
$12–13 million 21
$13–14 million 19
$14–15 million 12
Over $15 million 42
Total residential tax rolls
valued at $3 million and above
7059

 

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Financial Services

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