What is the property tax after immigrating to Canada?

Every year, local governments do two things. First, according to the plan, they will submit a budget to the local Council for approval, and then they will know how much they will spend next year. Then the value of all the properties in the whole region is evaluated, and the sum of the evaluated values of all the properties in the whole region becomes tax basis. With this total value, divide the budget by this total value and get the property tax rate. Of course, the actual tax is relatively more complicated. In the assessment, some properties are not included, such as hospitals, churches, educational facilities, etc., and do not need to pay property tax. Moreover, different property tax rates are different, such as farm houses, commercial land, pipelines, forest farms, houses, industrial land and farms. Commercial land can be subdivided into general commercial land, office land or shopping center. And the tax rate may be different. This seems fair, after all, it is unfair to let residential buildings pay taxes like shopping malls.

This tax has two purposes: municipal administration and education. The former is determined by local governments, while the latter is determined by provincial governments. According to the local government structure, the former part may be divided into two parts, for example, some local governments are also divided into two levels, municipal governments and regional governments, so that tax revenue will be divided into three parts. This is why the tax rates are different in different places. For example, the house price in Saskatoon is 500 thousand Canadian dollars. If the annual tax rate is 1% and the property tax is $5,000, another 250,000 house in Charlottetown, Prince Edward Island may have an annual tax rate of 2% and a property tax of $5,000. These two $5,000 are based on the budget of the local government, because no matter whether the local real estate value is high or low, the cost of public services required is not much different, far less than the real estate value. So you can see that despite the high housing prices, the real estate tax rate in Vancouver is relatively low, which is why!